I called MVA directly and talked to them about this, TRADE IN DOES reduce the "purchase price" since you already paid "tax" on that vehicle... so just work with your TESLA delivery team and get them to fill out the form. YES a 3P can qualify if you have a big enough trade in.
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Heads up for the Maryland EV Excise tax credit
- Thread starter TD_alseT
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- credit maryland tax credit
MacGreiner
5YJ
Welcome fellow North Potomacian!
This will have real bearing as to whether I trade my S on the P3D or not together with the impact a Tesla trade has on state tax.
MacGreiner
5YJ
We have done one long (1000 ml) road trip in the 3 with 2 kids (12,14) and that was about right. It's a strange thing, as a passenger, I feel like there is more space in the back seat of the 3 but that is most likely because of the increased headroom. If you are taller than 6 ft, any seat in the rear apart from middle one in an S is difficult. That said, car seats do take up more lateral room so I think it might be tight.
Everything else though I prefer in the 3.. Hence the trade on my S for me to a P3D.
Everything else though I prefer in the 3.. Hence the trade on my S for me to a P3D.
MacGreiner
5YJ
Ok. I just had my new P3D- delivered yesterday. The delivery team of course had not brought the MD excise form and knew nothing about the tradein impacting total price for state tax eligibility. Any ideas on what form I need to go back and get from them to test this?
danrama
New Member
As a fellow soon-to-be Model 3 owner in Maryland (was supposed to be last week but got canceled 48h before delivery--now waiting for new date) I also did some digging around about this topic. I believe I found the official definition of "total purchase price."
In other words:
Hope this is helpful to anyone else. Please continue to report on your experiences!
- I started on this MVA manual: http://www.mva.maryland.gov/_resources/docs/Interactive-Title-and-Registration-Manual.pdf
- Page 9 states:
- "See complete procedures for calculating total purchase and taxable price in Code of Maryland Regulation (COMAR) 11.15.33.00."
- Page 9 states:
- I searched for COMAR 11.15.33.00 and found: http://mdrules.elaws.us/comar/11.15.33.04
- It states:
Code of Maryland Regulations (Last Updated: July 29,2016)
Title 11. Department of Transportation
Subtitle 15. MOTOR VEHICLE ADMINISTRATION—VEHICLE REGISTRATION
Chapter 11.15.33. Vehicle Trade-In Allowance
Sec. 11.15.33.04. Total Purchase Price
A. The total purchase price or taxable price of a vehicle is determined by the certified selling price agreed on by the buyer and the seller, including any dealer processing charges as defined in Transportation Article, §15-311.1, Annotated Code of Maryland, less an allowance for the trade-in. There is no other nonmonetary consideration.
Title 11. Department of Transportation
Subtitle 15. MOTOR VEHICLE ADMINISTRATION—VEHICLE REGISTRATION
Chapter 11.15.33. Vehicle Trade-In Allowance
Sec. 11.15.33.04. Total Purchase Price
A. The total purchase price or taxable price of a vehicle is determined by the certified selling price agreed on by the buyer and the seller, including any dealer processing charges as defined in Transportation Article, §15-311.1, Annotated Code of Maryland, less an allowance for the trade-in. There is no other nonmonetary consideration.
In other words:
Total purchase price = the fully optioned vehicle price + dealer fees - trade-in
I'll be taking a copy of both these pages when it's my turn to (finally) pick-up my Model 3 and apply for the credit (http://www.mva.maryland.gov/_resources/docs/VR-334.pdf).
Hope this is helpful to anyone else. Please continue to report on your experiences!
MacGreiner
5YJ
I had to ask for the form at my delivery. They just assumed I was not eligible. After explaining, they filled out the excise form with the total price minus my trade in at $31k. My problem (1st world to be sure) is that we have already claimed the $2.5k on our first M3 earlier in the year, so I believe we will not be able to dip twice.
MacGreiner
5YJ
Claim the 2nd credit in your spouse's name. The credit is limited to 1 per person per lifetime, but NOT 1 per household. So if your name was on the rebate check last time, submit the new rebate application under your significant other's name. That's what I did. You DO have to make sure your spouse's name is on the purchase/registration paperwork for the new car though, otherwise you can't claim the rebate under their name.
Mailed my form 2nd or 3rd week of September and got my $3k in the mail today! (7-8 weeks)
Had a purchase price of exactly $60k, no trade in.
Had a purchase price of exactly $60k, no trade in.
Couple entries saying "got my $3,000". Don't understand.?? I thought the Maryland $3,000 is a tax credit. Can't use until you file next year's taxes. (vs a check-in-the-mail Rebate, which is how the Maryland EV Charging Station program works, technical name something like "Alternative-Fuel Vehicle Charging Station Rebate").
It's a rebate, not a tax credit. The tax on a new car is an excise tax, not a sales tax.
But then why does the MD state website call it a 'tax credit'? (And they specifically call the $700 one for charging station installation a 'rebate').
- Maryland Excise Tax Credit of $100 per kilowatt-hour of battery capacity up to a maximum of $3,000 for Electric Vehicle or Plug-in Hybrid.
- Maryland offers a rebate of 40% of the cost of Electric Vehicle Charging Equipment and Installation. The rebate is up to $700 for individuals;
Have looked further at the MD state site and the form to be used. No question about it. Although they 'call' it a Tax Credit, the form allows you to submit for reimbursement as soon as you make the purchase. ie. Don't wait for next tax return. Complete opposite of approach to get the Fed $7500 Tax Credit even though both called tax credits. (Didn't experience Md's first hand 'cause I have an 'S' which was of course above the $60,000 limit for Md state $).
MacGreiner
5YJ
I believe it is based on the total cost at purchase minus any trade in. If this is indeed the case, I think you would be fine.
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