Charge-Up NJ rebate program Phase 2

[rjpjnk]

My account page still shows only a RN number and not a VIN. Not sure who to call since I was never assigned an SA. However, I did do a test drive at Springfield, but the guy I spoke with there did not seem to think he was my SA.

With the news yesterday about the likely restoration of the 7500 federal tax credit for parts of 2021 I really want to make sure I qualify for this (aside from possible NJ credit). As currently written it appears retroactive for all Teslas purchased after May 24, 2021. But that's only because that was the day the committee passed it. If they revise if in House/Senate they may change this to whatever the last revision date is I suppose.

EDIT: Here is the proposal as recently passed:
Clean Energy for America Act is available here

 

[spat12]

My account page still shows only a RN number and not a VIN. Not sure who to call since I was never assigned an SA. However, I did do a test drive at Springfield, but the guy I spoke with there did not seem to think he was my SA.

With the news yesterday about the likely restoration of the 7500 federal tax credit for parts of 2021 I really want to make sure I qualify for this (aside from possible NJ credit). As currently written it appears retroactive for all Teslas purchased after May 24, 2021. But that's only because that was the day the committee passed it. If they revise if in House/Senate they may change this to whatever the last revision date is I suppose.

Could you please share link where you see potential federal $7,500 and 5/24/2021?
Thanks

 

[rjpjnk]

Here:

https://www.finance.senate.gov/imo/media/doc/Clean%20Energy%20for%20America%20Act%20-%20Chairman's%20Mark.pdf

Excerpt from Pg 30. There are 4 separate benefits that have effective dates listed as follows.

"Effective Date
The extension of the EV credit for two- and three-wheeled electric vehicles is effective for vehicles acquired after December 31, 2020. The elimination of the per-manufacturer-cap is effective for vehicles sold after May 24, 2021. The portions of the proposal making the EV credit a refundable personal income tax credit along with the VIN requirement are effective for vehicles acquired after December 31, 2021. The EV credit phase-out rule is effective on the date of enactment."

 

[ahsan206]

My account page still shows only a RN number and not a VIN. Not sure who to call since I was never assigned an SA. However, I did do a test drive at Springfield, but the guy I spoke with there did not seem to think he was my SA.

With the news yesterday about the likely restoration of the 7500 federal tax credit for parts of 2021 I really want to make sure I qualify for this (aside from possible NJ credit). As currently written it appears retroactive for all Teslas purchased after May 24, 2021. But that's only because that was the day the committee passed it. If they revise if in House/Senate they may change this to whatever the last revision date is I suppose.

EDIT: Here is the proposal as recently passed:
Clean Energy for America Act is available here

Does the 7500 federal tax credit go by order date or purchase date regarding teslas? My order date was April 4th, will I still be eligible?

I also got that "Confirm Your Order Update" screen when I logged into my Tesla account today. Can anyone advise on whether I should click proceed if I am still trying to take advantage of the Charge Up rebate if possible?

 

[rjpjnk]

Yes, that's the big question... Do we push the big blue button?

On the federal tax return Form 8936 the date asked for is "date vehicle was placed in service". I really doubt that has anything to do with ordering.

https://www.irs.gov/pub/irs-pdf/f8936.pdf

 

[ahsan206]

Just decided to click proceed. Now I have a Vin and a delivery date of May 30 - June 04. Gonna try to talk to my advisor and see what my options are. I have a feeling that the only way to get the rebate would be to cancel and reorder which would make the rebate only $2k for me since I ordered the model 3 before a lot of the price increases, At that point, I think i'll just accept the delivery early.

 

[rjpjnk]

Thanks for the update. I am glad I didn’t click now. That fed 7500 has definitely got my attention.

let us know what your advisor says.

 

[SpicyPaneer]

there is no update on that either, it has not passed the senate nor house yet.. if the fed's do pass it, it won't be on GM or Tesla, they have used used their portion or phased out already. Hence HM is encouraging the biden Admin to raise teh capacity to 600k, but Tesla surpassed 800k last year alone. The B admin, should just give the rebate to all green vehicle and not just single out a particular vendor. sorry for the rant.

NJ is already planning to give $2k instead of $5k, if you July, you will have taken on more increase Tesla has in store too.

Trust me I want the ^10k gov, $5k NJ rebate, the car would still cost the average consumer for M3 or Y LR anywhere from $35k to $45k. It alot of money to shell out for going green, no thanks, I can go light green in a Prius for $25k.

 

[spat12]

Here:

https://www.finance.senate.gov/imo/media/doc/Clean%20Energy%20for%20America%20Act%20-%20Chairman's%20Mark.pdf

Excerpt from Pg 30. There are 4 separate benefits that have effective dates listed as follows.

"Effective Date
The extension of the EV credit for two- and three-wheeled electric vehicles is effective for vehicles acquired after December 31, 2020. The elimination of the per-manufacturer-cap is effective for vehicles sold after May 24, 2021. The portions of the proposal making the EV credit a refundable personal income tax credit along with the VIN requirement are effective for vehicles acquired after December 31, 2021. The EV credit phase-out rule is effective on the date of enactment."

Then there is a modification https://www.finance.senate.gov/imo/...y_for_America_Act_Chairmans_Modified_Mark.pdf. Modifications adds $5,000 more credits ($2,500 made in USA + $2,500 made with union worker) for total of $12,500 EV credits. This along with removing manufacturer cap is effective after 5/24/2021. Not sure if this needs to be passed by congress or just by subcommittee.

 

[Mr_Bob]

Then there is a modification https://www.finance.senate.gov/imo/...y_for_America_Act_Chairmans_Modified_Mark.pdf. Modifications adds $5,000 more credits ($2,500 made in USA + $2,500 made with union worker) for total of $12,500 EV credits. This along with removing manufacturer cap is effective after 5/24/2021. Not sure if this needs to be passed by congress or just by subcommittee.

Has to pass Congress and get signed by Biden. Once the subcommittee approves and the Rules Committee signs off it will go before the Senate, in this case. Assuming the GOP doesn’t try to filibuster it and it passes, it then needs to pass the House. It probably will. Biden will absolutely sign. The only real roadblock is the Senate because although the GOP is in the minority, they have enough to filibuster, or stop discussion on, business before the Senate. With that said it might actually happen because a GOP controlled Congress already passed similar legislation back in 2019 but Trump vetoed it. A lot of folks are on-board now because of the increase in American jobs and manufacturing.

 

[pwagh31]

So, if the green act is passed and the NJ phase2 is active from July 2021, could new Tesla customers receive $7500-10k Federal credit, plus $2-5k NJ tax rebate?

 

[veriojon]

potentially yes

 

[Dsn112]

they should just retro the fed back to all of 21 since nobody can file for that until feb 2022 at the earliest.

 

[pwagh31]

right, that makes sense. I believe a lot of people will probably order starting July onwards but again there is no guarantee that we will receive the federal credit. If the bill says you are eligible only after this date onwards then that would suck big time. I guess we have to wait and see what happens.

Will the green act bill actually be signed by Biden in next the couple of months or is it going to be stretched until the end of the year?

 

[SpicyPaneer]

EV credit increase The Chairman’s modification provides an additional credit amount of $2,500 for new qualified plug-in electric drive motor vehicles for which the final assembly is at a facility whose production workers are members of or represented by a labor organization. Chairman’s modification also provides an additional credit amount of $2,500 for new qualified plug-in electric drive motor vehicles for which the final assembly is at a facility in the United States before 2026. For vehicles sold after December 31, 2025, the base amount of credit for new qualified plug-in electric drive motor vehicles is increased from $2,500 to $5,000, and final assembly of a new qualified plug-in electric drive motor vehicle must occur in the United States. Therefore, under the Chairman’s modification a new qualified plug-in electric drive motor vehicle is eligible for a maximum credit of $12,500, for a vehicle assembled in the United States at a facility whose production workers are members of or represented by a labor organization. Vehicle price limitation In addition, the Chairman’s modification requires that a new qualified plug-in electric drive motor vehicle purchased by the taxpayer has a manufacturer’s suggested retail price (MSRP) of $80,000 or less. That is, the credit amount is reduced to $0 if the MSRP for the vehicle is more than $80,000. The changes to credit amounts are effective for vehicles acquired after December 31, 2021.

so $12,500 federal + $2k to $5k NJ state= potential savings?

 

[Gellie]

So are we suppose to hold off on ordering ? Test drove a Y this morning and ready to buy. Guy at Tesla store said any potential tax saving from the Fed or NJ takes place upon delivery , not ordering ?

 

[rjpjnk]

there is no update on that either, it has not passed the senate nor house yet.. if the fed's do pass it, it won't be on GM or Tesla, they have used used their portion or phased out already. Hence HM is encouraging the biden Admin to raise teh capacity to 600k, but Tesla surpassed 800k last year alone.

Read the proposal. The per-manufacturer cap is to be lifted on all cars sold after May 24, 2021 as written. This would make Tesla and GM eligible again immediately no matter how many cars they produced.

 

[Gellie]

Read the proposal. The per-manufacturer cap is to be lifted on all cars sold after May 24, 2021 as written. This would make Tesla and GM eligible again immediately no matter how many cars the produced.

Can you share the link again?

 

[rjpjnk]

Can you share the link again?

It’s just above in post 463. Still seems to be working. Are you having trouble accessing it?

 

[SpicyPaneer]

Read the proposal. The per-manufacturer cap is to be lifted on all cars sold after May 24, 2021 as written. This would make Tesla and GM eligible again immediately no matter how many cars they produced.

Thank you Brother for the clarification, how did I miss that.. Thanks again.