ElectricMotorcycleForum.com
General Category => General Discussion => Topic started by: Richard230 on October 13, 2015, 08:22:25 PM
-
There was a report on the CBS radio news this morning that Tesla Model X buyers might qualify for a $25,000 tax credit on their purchase. Apparently, there is a $25,000 tax credit benefit in an obscure section of the IRS tax rules for anyone owning an electric vehicle that weighs over 6,000 pounds and is used as a business expense . It was designed to help farmers, but it looks like big-bucks EV buyers will be making hay too. ;)
I wonder if Terry's Zero streamliner would qualify? ::)
-
Actually it has nothing to do with EVs, it's just heavy vehicles in general are considered "commercial" vehicles, so they get the commercial tax break. They've been calling it the "Hummer credit" because it's actually been encouraging some people to purchase larger vehicles than they need. But now that Tesla purchasers can use it, they'll probably shut that loophole in a few nanoseconds.
-
Actually it has nothing to do with EVs, it's just heavy vehicles in general are considered "commercial" vehicles, so they get the commercial tax break. They've been calling it the "Hummer credit" because it's actually been encouraging some people to purchase larger vehicles than they need. But now that Tesla purchasers can use it, they'll probably shut that loophole in a few nanoseconds.
An article in the financial section of my newspaper today provided more details and said the same thing. In addition the article said that Model X owners could also get the $2500EV tax return credit, as well as any state EV rebate. It is all over the new today, so I assume that Congress will be commenting on the "credit" soon and going on a crusade to eliminate it for overweight Teslas. ;)
-
Obviously, there is some EV animosity out there because Section 179 (Hummer tax credit) has been around for at least 5 year and it is for small business vehicles.
Each news agency copies the news from another and then never stop to think if the content even makes since. There have been a couple of articles recently that are incorrect calling out Tesla.
An example, news sources are calling out the Tesla Model X as too expensive because it costs $130,000, but Tesla has said that the Model X stars at ~$75,000.
-
Awesome! I need to get one.