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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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Adapters: https://shop.tesla.com/product/ge...a-adapters
Bundle: https://shop.tesla.com/product/ne...ter-bundle
The $250 non-refundable order fee is applied to your order, so not an extra charge. Only a factor if you cancel your order.
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If you exclude the tax credit there was technically a cheaper, shorter range, model 3 for $35,000 in early 2019 for about 18 months.... but the max tax credit then was $3750 for some of the time it was on sale, then only $1875 for a while after-- so still more expensive than an inventory car today with ~50 miles more range and the full tax credit.
If you exclude the tax credit there was technically a cheaper, shorter range, model 3 for $35,000 in early 2019 for about 18 months.... but the max tax credit then was $3750 for some of the time it was on sale, then only $1875 for a while after-- so still more expensive than an inventory car today with ~50 miles more range and the full tax credit.
Wasn't it Elon Musk that got on stage in early 2019 and told the world that vehicles with the expensive FSD package ($7,000 at the time, $15,000 today) would be usable as robotaxis by 2020 that would earn their owners $30k per year? He suggested there'd by a million robotaxis on the road in 2020, and that a person would have to be insane to buy any vehicle other than a Tesla (+ FSD).
Elon Musk confidently gave a timeline, and now 2.5 years beyond that timeline, FSD and robotaxis are still a long ways away.
How about the Semi, which Musk got on stage in November 2017 and announced that depositors ($5k, but was raised to $20k) would get their trucks by 2019. They just finally shipped a small handful at the end of 2022.
How about the Roadster, where in that same November 2017 stage show, Musk confidently stated that depositors ($50k - $250k) would get their cars in 2020.
How about all of the youtube creators and EV news site owners / editors who worked their butts off to promote Tesla ("unbiased" journalism...
More than likely, Tesla did get access to the full $7500 tax credit on the model 3 ($3750 more than what they were getting previously) because they're struggling to sell cars, resulting in the treasury bailing them out... again... with a new delay in battery sourcing requirements.
As many here may not realize, battery sourcing requirements were supposed to go into effect on January 1st, but the Treasury delayed it through April 18th... 3.5 months late, during which Tesla pulled in over $200 million extra in tax credits over that period. (by maintaining higher MSRPs on the model 3 RWD) Without that delay, Tesla would have needed to cut prices further, and likely would have lost out on sales, resulting in a pretty terrible quarter... not that their Q1 was all that great even with the bailouts.
As for the "million robotaxis" comment, people misquote this all the time. He was clearly talking about the hardware when he said that there would be "1 million robotaxi-capable cars on the road" that could be remotely turned on when the software was ready. He was not making a timeline claim about the software. (He has made several overly-optimistic predictions on that front, however.)
As for the "million robotaxis" comment, people misquote this all the time. He was clearly talking about the hardware when he said that there would be "1 million robotaxi-capable cars on the road" that could be remotely turned on when the software was ready. He was not making a timeline claim about the software. (He has made several overly-optimistic predictions on that front, however.)
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There's been 2 reports of a missing retaining bolt- out of the >4 million cars Tesla has built.
"Manufacturing records indicate that certain vehicles may have incorrectly
received a complete torque record because of a torque action in the preceding
station. This may have allowed the vehicle to advance without the fastener
being properly torqued."
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