It helps to stimulate manufacturers to invest into the production of batteries in North America instead of being dependent on ChinaThey can say they designed and passed the bill, but it helps no one.
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It helps to stimulate manufacturers to invest into the production of batteries in North America instead of being dependent on ChinaThey can say they designed and passed the bill, but it helps no one.
The Model Y is an SUV. Mine is registered as such, no questions.
Model 3 long range for 2023 has been withdrawn from the website - maybe something is afoot regarding eligibility for the credit.
Point of sale for the MY starts in 2024, NOT 2023. 2023 is only tax credit that you claim off taxes. So people are thinking they can take the $7500 off the point of sale when they pick up their MY in 2023 are out for a rude awakening. That is fine b/c that means they are trying to delay and will delay their order which will make mine move up earlier which I am happy about!thanks much. So for 2023 I'd have to claim the credit when I file my federal tax at the end of the year and it wouldn't be applied by the dealer at the showroom. correct?
The Model X, yea but it is over $80k so not eligible!Question is, will it be classed as an SUV?
“SUV is a loose term that traditionally covers a broad range of vehicles with four-wheel drive that can be taken off-road and have the feel of a lighter truck.”
The Model X is probably more likely to be considered an SUV.
Turns out this is not a forgone conclusion. As far as I know there is no official definition of what is an SUV and just because Tesla calls the Y an SUV may not be enough. What is to stop every car manufacturer from labeling their cars as SUVs? Remember we are now dealing with the IRS.
But like others have stated, the origin of the bulk of the battery is the remaining issue. Well, that, and the President hasn’t signed the bill as yet.I'll bet that there isn't a state in the country that doesn't register the Model Y as an SUV. There is no reason for this kind of paranoia.
You are most likley correct, but we are talking about the IRSI'll bet that there isn't a state in the country that doesn't register the Model Y as an SUV. There is no reason for this kind of paranoia.
I believe that there are 2 different sentences concerning battery material sourcing instructions for the "Secretary". One says by 12/31/2022, the other says by 2024. Until the bill is signed and provisions explained a bit more clearly 2023 Model Y credits are hard to forecast.But like others have stated, the origin of the bulk of the battery is the remaining issue. Well, that, and the President hasn’t signed the bill as yet.
I believe the EPA determines this. My understanding is that EPA approval is needed before the vehicle can be brought to market. NHTSA classifies vehicles. No expert on this though I will say in Maryland the MY is registered as a Utility Vehicle.Turns out this is not a forgone conclusion. As far as I know there is no official definition of what is an SUV and just because Tesla calls the Y an SUV may not be enough. What is to stop every car manufacturer from labeling their cars as SUVs? Remember we are now dealing with the IRS.
Actually the current credit language is "placed in service". Date of sale or delivery is not mentioned. See attached.Prior tax credits have gone by the year the vehicle was purchased, IIRC. Nothing to do with when it was registered or placed into service.
And yeah, I don't think there is any reason to worry about the Y being classified as an SUV for the purposes of this tax credit. The battery chemistry counting it out is more likely.
I will delay if Tesla will let me. My current EDD is 9/10-10/8. I don't think they're going to let me delay for 2+ months. But I'll try. Just trying to work the scenario where they force me to take delivery this year.Not an accountant . Placed in service most likely means taking title of the vehicle or taking delivery. No way that I know of to take possession before either of these things. If you want a guarantee of the tax credit wait until after 1.1.2023 .
I'm going to politely challenge that given some more research I did."Placed in service" doesn't need much guidance. You won't find anything that differs from the date that you take possession - ownership. You can't hide it from "service" to get around the provisions of the law.
Tesla will not force you. If you ask for "hold" or "delay" they will say no, and they will give you two options. Take it or leave it.I will delay if Tesla will let me. My current EDD is 9/10-10/8. I don't think they're going to let me delay for 2+ months. But I'll try. Just trying to work the scenario where they force me to take delivery this year.