NJ EV Tax Break | Is it feasible with AWD + FSD

[Sebat4]

I am actually curious how they would track this after one year or so.

@Balthezor NJMVC shares information with other states about the person and their cars as soon as you register the car in another state they will make sure to share that information. The bill for EV incentive was signned in January 2020, and it took 6-7 months to implement the new regulation so I would assume NJ State took their time to make sure that there is a way for them to track this. Even if they don't notice right away, at some point they will notice and NJ state will ask for the money back. Money wise they notice stuff even if its 10 years later and they will track you down to pay them back.

 

[Sebat4]

This is the information New Jersey is looking for after submitting the application as a proof of ownership/purchase or lease. This might be helpful to some, since I had the this exact question.

To complete your application, we require that you submit the following documentation:

• A complete copy of your executed and signed vehicle lease or purchase agreement. Please include all pages and sections, with your signature and date of purchase or lease visible. Note: Your signature may be on the reverse side of your agreement.
• Proof of vehicle registration. Please include a copy of your permanent registration, temporary registration (attached to your windshield), or the application for “Registration of New Vehicle” that your representative submitted to the MVC.
• A copy of your New Jersey driver's license.

 

[Pilot1226]

How does the $500 rebate work for the home charger credit? For example do I need to file this the same time I file the $5000 rebate for purchase or can it be at a later time? Would love to spend the $500 on the HWC 18’ if they ever get it in stock

 

[hakunamattata]

How does the $500 rebate work for the home charger credit? For example do I need to file this the same time I file the $5000 rebate for purchase or can it be at a later time? Would love to spend the $500 on the HWC 18’ if they ever get it in stock

So far they haven't released any details for home charger nor the effective dates. I would recommend you hold on to your Tesla receipt

 

[Bednarz42]

Given the states fiscal issues since Covid started, I wouldn't be surprised if the $500 home charger rebate never comes to pass.

 

[Balthezor]

@Balthezor NJMVC shares information with other states about the person and their cars as soon as you register the car in another state they will make sure to share that information. The bill for EV incentive was signned in January 2020, and it took 6-7 months to implement the new regulation so I would assume NJ State took their time to make sure that there is a way for them to track this. Even if they don't notice right away, at some point they will notice and NJ state will ask for the money back. Money wise they notice stuff even if its 10 years later and they will track you down to pay them back.

This is very impressive actually.

 

[DanDi58]

@Balthezor NJMVC shares information with other states about the person and their cars as soon as you register the car in another state they will make sure to share that information. The bill for EV incentive was signned in January 2020, and it took 6-7 months to implement the new regulation so I would assume NJ State took their time to make sure that there is a way for them to track this. Even if they don't notice right away, at some point they will notice and NJ state will ask for the money back. Money wise they notice stuff even if its 10 years later and they will track you down to pay them back.

Too bad they haven't spent as much time tracking the tax breaks they gave companies to stay in / more to NJ!

 

[Balthezor]

Too bad they haven't spent as much time tracking the tax breaks they gave companies to stay in / more to NJ!

Haha exactly.

 

[Sebat4]

Too bad they haven't spent as much time tracking the tax breaks they gave companies to stay in / more to NJ!

I agree with you, but that's how the system is design. Go after a little man not the big company because it's cheaper and easier to get money from a little man

 

[Pilot1226]

Is there a limit or actual threat of the $5000 discount being discontinued because of pandemic or budget shortfalls? The discount is what got the ball rolling on the whole "EV" thing altogether.

 

[youtalking2me]

Trade in wouldn't be considered as discount. Just my experience in Maryland, so of course it can be different in NJ. My LR AWD w/ induction wheels, blue color and FSD was $64k. My trade in value for my S was $54k. So my final price was about $10k, and the tax that was charged to me was based on $10k, so about $600. MD limit for the price at $60k for tax credit, so i qualified. Granted, i am only getting about $600 back, but it's a wash for me since I only had to pay $600 tax instead of close to $4000.

I thought MD ran out of the tax credit for 2020 and all apps are on hold. I know they were looking to extend it in Feb. but the bill wasn't passed due to you know, COVID.

 

[Klau2]

I thought MD ran out of the tax credit for 2020 and all apps are on hold. I know they were looking to extend it in Feb. but the bill wasn't passed due to you know, COVID.

Yes, they ran out. Just saying if they start again i will be getting about $600 back. I haven't actually gotten it yet. This was why trading in the car made more sense since i get the taxes taking off the final price right away.

 

[Balthezor]

Praying the NJ one hasn't ran out yet. I just got the VIN today.

 

[Bednarz42]

I took delivery on 7/28, got the email notification that my rebate application has been approved last week.

 

[Sebat4]

I just applied today and I receive an email that $5k was reserved for my application. I think my application was number 2537

 

[Balthezor]

How long did it take you guys to get the approval from submission of the application?

 

[hakunamattata]

How long did it take you guys to get the approval from submission of the application?

It took me two weeks for approval, still waiting for the physical check it has been about five weeks since approval