State tax rebates

[Cobra Kai]

Hello everyone! As with all of you who have Model X reservations, I'm patiently waiting for the day mine arrives. I'm recently new to the TMC forums, but a long time peruser on various message boards for car enthusiasts.

I had a question about state or federal tax rebates that hopefully some of you can shed some light on.

With the continued delay of the Model X, I'm getting nervous that by the time I purchase my X that the coveted rebates ($7,500 was my understanding) will be gone. I live in Arizona, and I have no idea if the $7,500 rebate for alternative fuel/electric vehicles is still valid or is set to expire at some point. Any of you have any information on this? I believe it differs from state to state.

I really hope they get rid of this before the Model X comes out!

 

[RandyS]

The $7,500 is a Federal tax credit, and it doesn't start to wind down until the manufacturer has produced 200,000 vehicles...So you should be okay with your reservation. You do have to have $7,500 of federal tax liability to get the full tax credit, though...Usually not a problem for Tesla customers

 

[Cobra Kai]

That is good news! Thanks for the quick reply. I'm #4892, so I'm hoping I get my X by summer next year! Without going into great detail, what is the process in getting the federal tax credit? Will it be rolled into the purchase price or is it something I will need to take care of after the purchase?

 

[rkruff]

Hello everyone! As with all of you who have Model X reservations, I'm patiently waiting for the day mine arrives. I'm recently new to the TMC forums, but a long time peruser on various message boards for car enthusiasts.

I had a question about state or federal tax rebates that hopefully some of you can shed some light on.

With the continued delay of the Model X, I'm getting nervous that by the time I purchase my X that the coveted rebates ($7,500 was my understanding) will be gone. I live in Arizona, and I have no idea if the $7,500 rebate for alternative fuel/electric vehicles is still valid or is set to expire at some point. Any of you have any information on this? I believe it differs from state to state.

I really hope they get rid of this before the Model X comes out!

That is good news! Thanks for the quick reply. I'm #4892, so I'm hoping I get my X by summer next year! Without going into great detail, what is the process in getting the federal tax credit? Will it be rolled into the purchase price or is it something I will need to take care of after the purchase?

You claim the credit on your federal tax return. There is a form for it..you enter the vin, etc.. And the credit is applied to you tax liability. Pretty straight forward.

 

[Cobra Kai]

Ah, Got it. That makes sense. Thanks!

 

[Alysashley79]

And it's a credit not like something that comes off your income but is a full $7500 credit. So as long as your liabilities as there you'll see the full amount the following year come back to you.

 

[thgchris]

And it's a credit not like something that comes off your income but is a full $7500 credit. So as long as your liabilities as there you'll see the full amount the following year come back to you.

Is there a "you make to much money" income cut off? e.g. I don't quality for Roth IRA etc

As a side note: I see you're based in Seattle. Have you heard anything about the WA sales tax exemption being extended? As it sounds now unless they extend it that will be too late for Model X buyers as you have to take delivery of the car to recognize the 0 sales tax.

 

[spleen]

Is there a "you make to much money" income cut off? e.g. I don't quality for Roth IRA etc

As a side note: I see you're based in Seattle. Have you heard anything about the WA sales tax exemption being extended? As it sounds now unless they extend it that will be too late for Model X buyers as you have to take delivery of the car to recognize the 0 sales tax.

No cut off for the federal credit. We don't qualify for Roth IRA either and were able to get the credit.

 

[Alysashley79]

Is there a "you make to much money" income cut off? e.g. I don't quality for Roth IRA etc

As a side note: I see you're based in Seattle. Have you heard anything about the WA sales tax exemption being extended? As it sounds now unless they extend it that will be too late for Model X buyers as you have to take delivery of the car to recognize the 0 sales tax.

hi thechris. Sorry just saw this. I haven't heard anything on the extension of the sales Texas of
Yet. I've been talking with several of the legislators trying to get the HOV lanes for plug in EV current HB1523 that is set to expire in April 2015 on the table and set into motion. I've already taken delivery of my MS however that doesn't mean I won't again in the future want another want. I do!!' I would recommend calling all the legislatures or emailing them and requesting they extend this bill. I think you will find that they are all or most of them are quite nice and happy to discuss the. Issues with us. My guess is that it will be extended but don't quote me on that.

 

[slipdrive]

Anybody have issues with claiming on the 2013 Colorado tax returns. I believe the forms were correctly completed, and they required an upload of the dealer paperwork, ... but refund is overdue. They may be hand reviewing all EV rebates ...(?)

 

[loganthefirst]

Colorado Refund

Anybody have issues with claiming on the 2013 Colorado tax returns. I believe the forms were correctly completed, and they required an upload of the dealer paperwork, ... but refund is overdue. They may be hand reviewing all EV rebates ...(?)

I live in Lone Tree and am reservation holder 11,501. Did you ever received your refund? Were the salesmen at the Park Meadows Store helpful with this or did you go to a tax specialist for EV owners? Did the Federal credit come through by itself and you were waiting for the Colorado state $6000 or all at once? Sorry for all the questions, just want to make sure I take care of this correctly.

 

[slipdrive]

I live in Lone Tree and am reservation holder 11,501. Did you ever received your refund? Were the salesmen at the Park Meadows Store helpful with this or did you go to a tax specialist for EV owners? Did the Federal credit come through by itself and you were waiting for the Colorado state $6000 or all at once? Sorry for all the questions, just want to make sure I take care of this correctly.

Colorado has a form to be filed with your income taxes, and it has the Tesla Model S listed. There is also a calulcation based on MSRP and battery KwH size. They also require an upload (I also included a copy) of the dealer invoice and registration papers. It has just been more than the normal 60 days or so since filing, and nothing back in the form of refund. I will venture into the quagmire this week, and try to find out if there is something else going on....

http://electricridecolorado.com/get_set/my_home/ready-your-home/colorado-tax-credits

 

[ArnieR]

Florida does not offer EV rebates and requires State Sales Tax. Any way around this??