New York just announced tax credit for EV !

[deonb]

I will be interested in this but apparently I have to wait 30 months after utilizing the federal tax credit initially before I can update to a new car. 12 more months to go. Who knows what surprises await? I Will be upgrading then to a new nose, lights, 100 kw battery, ventilated seats, full glass roof, auto pilot 2.0 and rear cup holders. Not to mention any software revisions. Isn't progress grand?

Where did you see 30 months?

 

[CraZ8]

Saw it in another thread, can't recall which one. Apparently if you trade your car in before that time you have to give a portion of your tax credit back. It makes sense but I haven't verified through my own tax accountant so don't quote me. It will be at least a year before I upgrade so it doesn't make a difference to me unless I win the lottery

 

[Chopr147]

I have checked Google several times and called NYS.( Tried to anyway. No-one seems to know) Same answer: No further at this time. Still waiting for the April vote to be put into effect. Will be keeping an eye out until tax time

 

[gimmi80]

... have to wait 30 months after utilizing the federal tax credit initially before I can update to a new car. ...

is that correct? You can use a federal tax credit ($7500) every 30 months?
I don't seem to find that info on the IRS website...

 

[miimura]

The California State Rebate (not tax credit) requires you to hold the car for 30 months. If you trade/sell/total the car within that period you owe a prorated portion back to the rebate program. It does not apply to the Federal Tax Credit.

 

[bigjoefatz]

Correct - 7500 rebate is good on day 1. Don't have to worry about giving it back so long as you did not acquire the vehicle with a view of selling it. I think if you genuinely used the car for less than a year and traded it in you're fine.

Back to NY- anyone hear anything. I can't find nuttin

 

[Rove]

Anyone hear anything on this? Its getting closer to tax time. Tried looking but didn't find anything yet.

 

[S3XY]

The best I could find was this article. It's about charging stations but there is mention of the release of EV rebate details being pushed out to the current quarter.

 

[Chopr147]

I plan on doing another intensive search, asking my tax man etc...... before doing my 2016 taxes. A reminder: The tax credit was passed in May 2016 but no word on when it will be implemented.

 

[gimmi80]

The program is being preparred by NYSERDA and should be available by April 2017.

 

[Snow Drift]

I asked @NYSERDA for an update on Twitter and they replied:

We're finalizing the necessary steps to launch rebate. We're looking forward to announce it & get more EVs on NY roads

 

[idontknow1]

I am in NY and I am scheduled to take delivery of my Model X in May to early June. I would LOVE to have this in effect when I take delivery. Does the law have to be inplemented when I take delivery, or as long as I purchase in 2017 and the law implemented in 2017 is that enough for me to get the rebate? Any idea?

 

[Stasla]

I am in NY and I am scheduled to take delivery of my Model X in May to early June. I would LOVE to have this in effect when I take delivery. Does the law have to be inplemented when I take delivery, or as long as I purchase in 2017 and the law implemented in 2017 is that enough for me to get the rebate? Any idea?

Apparently this was signed into law last April. I'm assuming and hoping it would also apply to 2016 purchases. So far the most info I found was that the process to claim is being finalized. No specifics yet.

 

[Snow Drift]

I am in NY and I am scheduled to take delivery of my Model X in May to early June. I would LOVE to have this in effect when I take delivery. Does the law have to be inplemented when I take delivery, or as long as I purchase in 2017 and the law implemented in 2017 is that enough for me to get the rebate? Any idea?

The budget said they had one year to implement. That would be April 2017. So probably starts then, maybe retroactive to Jan 2017.

 

[bigjoefatz]

officially announced, effective April 1 (makes sense given NY budget is Apr 1-March 31).

New York to Launch Electric Vehicle Rebate

 

[Snow Drift]

officially announced, effective April 1 (makes sense given NY budget is Apr 1-March 31).

New York to Launch Electric Vehicle Rebate

I'm going to click but I'm expecting an April Fool's joke. Just to be clear!

 

[Snow Drift]

Now is it a true rebate or a credit? I've seen both terms used.

 

[gimmi80]

There is also an article on Electrek.co but it does not seem to add much to what we already know.

 

[Snow Drift]

Details...

It's a point of sale rebate based on battery only mileage up to $2k, but $60,000+ only gets $500 (five hundred).

That's fine my Model 3 will be under that.

How the Drive Clean Rebate Works - NYSERDA

Drive Clean Rebate for Electric Cars - NYSERDA

Governor Cuomo Launches $70 Million Electric Car Rebate and Outreach Initiative

 

[gimmi80]

I think it's fair