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Those $100k Tesla Model Xs could qualify for up to $35,000 per vehicle in tax ....

Discussion in 'News' started by neptune2000, Oct 14, 2015.

  1. neptune2000

    Joined:
    Jul 7, 2015
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    Location:
    Redondo Beach, CA
    Quotes from Silicon Valley Business Journal's "Those $100k Tesla Model Xs could qualify for up to $35,000 per vehicle in tax incentives and rebates":

    http://www.bizjournals.com/sanjose/news/2015/10/13/those-100k-tesla-model-xs-could-qualify-for-up-to.html?ana=yahoo

    "The Palo Alto-based car company’s new $100,000 Model X electric SUV might qualify for a “heavy equipment” tax deduction for nearly a quarter of the cost of the car, the Los Angeles Times reported."

    "The $25,000 tax deduction isn't the same as cash, but a California business owner who uses the vehicle mostly for work could buy a Model X for $100,000 and would immediately qualify for the $7,500 federal income tax credit and the $2,500 California rebate, reducing the vehicle cost to $90,000. The buyer could also deduct $25,000 from the taxable income on their tax return, the Times said, citing tax experts."
     

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