-----
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.
--------------
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
-------------
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.
----------------
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.
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.
Once a Thread Wiki is added to a thread, "Create Wiki" button will disappear. If you would like to learn more about Thread Wiki feature, click here.
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.
Join The Conversation
Share your experience with the Slickdeals community
Share information with the community. Please follow our Community Guidelines and be kind!
1.8K Comments
Sign up for a Slickdeals account to remove this ad.
https://www.eenews.net/articles/t...ev-rebate/
and this
https://www.vpm.org/news/2023-05-...c-vehicles
All Tesla needs to do is allow lease buyout and incentivize tax credit for leases.
Tesla is losing sales by not being on this list https://leasehackr.com/blog/2023/...-on-leases
how about an Affordable AND Repairable electric or gas car?
ouch, we feel yur pain.
so i checked with the AI bot at you.com, wow problems i guess. some of their cars came in second to last, but better than being last...
https://www.cnbc.com/2021/11/18/c...fared.html
I think the question should be whether new M3 price is going to be the same, higher or maybe lower than the current M3 price.
https://www.dmv.ca.gov/wasapp/Fee...cleForm.d
Sign up for a Slickdeals account to remove this ad.
I think the question should be whether new M3 price is going to be the same, higher or maybe lower than the current M3 price.
Also the % sourced from certain places amount goes up next year so it's possible whatever homologating Tesla is doing to get the chinese-sourced battery packs the full $7500 credit this year won't be doable next year, that's a TBD right now.
Your iPhone battery barely lasts 5 years without significant degradation. Why would anybody want that kind of financial timebomb in a car is beyond me !
MEANWHILE BACK IN REALITY those 10 year old cars are still on original batteries and still retaining on average 88% of original capacity after 200,000 miles.
https://www.greencarrep
And those are the oldest-tech batteries Tesla used... newer ones are even better.
So, just maybe, your ignorance of the difference between a cell phone battery and an EV battery, not just in terms of chemistry, but in terms of cooling and BMS, is showing
Sign up for a Slickdeals account to remove this ad.
Your iPhone battery barely lasts 5 years without significant degradation. Why would anybody want that kind of financial timebomb in a car is beyond me !
Join The Conversation
Share your experience with the Slickdeals community
Share information with the community. Please follow our Community Guidelines and be kind!