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To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
Federal EV Tax Credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due.
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Here's how cheap you can get a new Model 3 RWD right now (including fed & local EV incentives):
• VT: $26,320
• MA: $26,830
• PA: $27,330
• MD: $27,330 - Delivered after July 1, 2023 https://marylandev.org/maryland-ev-tax-credit
• RI: $27,820
• DE: $27,820
• NY: $28,320
• CA: $28,330
• CO: $28,330
• CT: $29,030
• ME: $29,320
on top of above info federal, state and local incentive info that i posted , some employers are also providing ev incentive like exaple bank of america employees gets $5k incentive , in this case the best case scenario is like below
example scenario
• VT: $26,320 - $5000 bank of america employee ev incentive = $21,320
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CA CLEAN VEHICLE REBATE PROGRAM
$2K is available if your household makes <$200k.
There is an increased rebate of $7500 ($5500 on top of the $2k) available if you fall below income caps based on your household size.
Family of 4 max is $111k, Family of 6 is $149k.
This comes in the form of a check in 2-3 months. https://cleanvehiclereb
This is separate from the CARB Clean Vehicle Grants described below the dashes. It is possible to qualify for both, but the timing is different.
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And California residents that live in a disadvantage community (DAC) https://cleanvehiclegra
Disadvantaged communities are determined using CalEnviroScreen (https://oehha.ca.gov/calenviroscr...
here's the DAC map: https://oehha.ca.gov/calenviroscreen/sb535
And receive an Approval Letter through email.
You must receive an Approval Letter BEFORE you purchase a vehicle. We do not offer rebates and you cannot redeem a grant if you have purchased a vehicle before being approved.
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Top Comments
https://www.tesla.com/model3/design
Deal is even sweeter if you live in a state with additional credits:
VT: $26,320
MA: $26,830
PA: $27,330
RI: $27,820
DE: $27,820
NY: $28,320
CA: $28,330
CO: $28,330
CT: $29,030
ME: $29,320
Full tax credit details below, but the following income limits apply:
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
https://www.irs.gov/credits-deduc...3-or-after
Withholding is totally irrelevant to qualifying for the credit.
If you're unclear on this go read a 1040.
The part where you compute tax liability is lines 16 through 24.
THAT is where the $7500 EV credit comes off.
Your withholdings aren't even looked at until after that on line 25+
This is also not correct.
The Child Tax Credit is worth a maximum of $2,000 per qualifying child. Up to $1,600 is refundable for the 2023 tax year.
Refundable credits are computed AFTER non-refundable ones-- so the CTC is only "worth" $400 off your tax burden for these purposes- the $1600 left is refundable.
Thus if you had say $7900 in tax burden and one CTC and one EV credit, your tax burden would go to $0 and you'd get a full refund of the $1600 refundable part of the CTC
Source:
https://www.nerdwallet.
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1.8K Comments
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All 3 and Y qualify, all the way back to Jan 1.
The IRS website lists both as fully qualified, regardless of VIN or date.
The cars diverted to Canada are built entirely in China.
Tesla has never sold Chinese built cars in the US, so they were not diverted from the US to Canada.
All Teslas ever sold in the US are built in the US.
Sending China built cars to Canada allows Tesla to retain more US built ones to sell inside the US.... but US built RWD 3s are continuing to use the same chinese batteries they have all year.
And all 3 and Ys built year to date qualify for the full $7500.
There's a specific provision in the law that allows you to average all cars of a given model from a given factory. And also allows you to average for shorter time periods.
Since the mineral and battery requirements are only 40% and 50% respectively in 2023, if the AVERAGE across the whole Fremont production (lots of which are using US made batteries) meets that requirement- they're good.
Combine this with the fact that that requirement only began April 18th, and you can see a path to enabling all cars this year to meet the requirement.
Next year? Unknow- especially since the percentages of non-Chinese stuff go up. It's possible they'll be able to do this again if 4680 production ramps really well and more spare 2170s become available, but it's unknown right now.
Which is why for those specifically wanting the RWD 3, the advice to "just wait till it's a point of sale credit in January" might cost them half the credit.
Base price is 40k, and inventory ones are 37k- then any tax credits stack on top of that.
Only way to see it is to circumvent those and go to hot deals. Where every time anyone replies with anything, such as "I hate tesla", goes right back to the top
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That being said, Plz don't buy a tesla. You're gonna complain about something like cost of electricity even though gas is much more expensive. I already know it.
The $250 non-refundable order fee is applied to your order, so not an extra charge. Only a factor if you cancel your order.
You've had the car for 10 years and only changed the wipers and tires? Pretty impressive.
Here's a google search link:
https://www.google.com/search?q=t...of+service [google.com]
KBB:
https://www.kbb.com/car-advice/ma...our-tesla/ [kbb.com]
Consumer Affairs:
https://www.consumeraffairs.com/a...nance.html [consumeraffairs.com]
i charge at superchargers most of the time, never had a line, admittedly i charge early morning or at night after going to the gym and i usually pick up some food to eat, im not one of the people who go shopping and leave the tesla there for an hour.
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