You’re assuming that they care what we have to say about it.
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don’t know if this was asked yet, but will the new 2023 Mini Cooper SE qualify for the full rebate?
There are 0 vehicles that are definitively known to qualify for any rebate as of yet.
I believe they are assembled in England, so they will not qualify.
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Mine was from Oxford, so the NA requirements surely cannot be met.
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Not if you bought after 8/16 and didn’t have a written binding agreement before then or a large deposit. No EV tax credit for you since the car is assembled in Oxford, UK. Now some folks had to put down a $2K deposit at order time like I did and that is big enough to trigger the 5% deposit example from the IRS.
Mine was delivered back in June before the IRA mess so I will be claiming it on my 2022 taxes.
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There is nothing about the 5% generalization itself that is necessarily binding. It all comes down to what your state considers a binding purchase agreement. That may require a large deposit, it may not. A large deposit may make no difference, etc.
In New Jersey, for example, a Court ruled that if an agreement did not include a VIN and miles on the car, it was not a binding agreement.
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The old BBB bill was a debt printing machine. Without many restrictions they would be giving 400K EV tax credits to new Tesla owners every year. That’s $3B into Lord Elon’s pockets every year.
This new bill narrows the number of Teslas applicable and also severely limits the income eligibility. It also deletes the union bonus and is also very “pro Made in the US”
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The last one said, must be built by unions, which Tesla was not
For the tax credit overhaul starting in 2023, are there any credits for EV chargers or updating your electrical to 240v for level 2 charging?
Just curious if I should upgrade or wait until 2023?
To be pedantic, the tax credit overhaul already started. Some of the rules kicked in already, some dont kick in until next year, some in 24, etc. The section 30c extension for the charging credit extended the date to 2032 already. You dont have to wait until next year.
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I don’t believe the extension (for the year of 2022) was for consumers. From what I understand (.gov source attached), any EV charger or installation paid for in 2022 are not eligible for the credit. @GeminiRam, you may have to wait for a month and half to get the 30% credit in 2024 tax filing (for 2023 tax returns).
https://afdc.energy.gov/laws/10513
Consumers who purchase qualified residential fueling equipment between January 1, 2023, and December 31, 2032, may receive a tax credit of up to $1,000.
Nope. The extension of the phase out from dec 21 to dec 32 is effective immediately. The changes to what qualifies (adding bidirectional charging, etc) is what has to wait until next year.
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The business and personal credit for this both fall under section 30(c). Theres nothing it in that restricts dates to just businesses that i can find.
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To clarify, I meant the extension for this current year (2022) was meant for businesses and not consumers. Fair enough, you quoted the bill and I was quoting the energy.gov site, which may not have been updated correctly or recently.
I placed a charger in use this year (prior to the bill being signed) and I’d love to take advantage of the 30% credit. Hoping it works out with the next tax return!
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Ive been amazed how inaccurate many of the official summary pages are regarding many of the details of this, the BBB act when it was going back and forth, etc. I swear they never read the actual language on things.
They didn’t either.
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the credits on the chargers themselves have started but the credits on the electrical system upgrades needed for the charger (wiring, box upgrade, service upgrade, etc.) will begin in 23 and will be solely dependent on the states to implement.
Can you provide a source for this? That conflicts with everything I have seen. Section 30c already provided credits for the electrical system upgrades and the ira just reset the termination date.
I do agree with the expanded application kicking in in 24.
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