[aminking]

Hi I am really confused about the potential rebates/tax credits available for an EV6 in MA. I get that there is a state rebate of USD 2,500 for cars less than USD 50,000 (including state tax?), but if I go for an AWD GT-line (probably close to USD 58,000 + tax), would I still be eligible for the USD 7,500 Federal tax credit? The dealer I discussed this with said that it would not be eligible for either ☹. If this is the case, can anyone please also confirm whether there is a max car value which the Federal tax credit applies to (I read there was a plan to limit to USD 80,000 for SUVs and USD 55,000 for “other” - and the EV6 might be classed as a “station wagon”, so falls under “other). Can anyone shed any light on this? Thanks in advance!

 

[Jack mannix]

Hi I am really confused about the potential rebates/tax credits available for an EV6 in MA. I get that there is a state rebate of USD 2,500 for cars less than USD 50,000 (including state tax?), but if I go for an AWD GT-line (probably close to USD 58,000 + tax), would I still be eligible for the USD 7,500 Federal tax credit? The dealer I discussed this with said that it would not be eligible for either ☹. If this is the case, can anyone please also confirm whether there is a max car value which the Federal tax credit applies to (I read there was a plan to limit to USD 80,000 for SUVs and USD 55,000 for “other” - and the EV6 might be classed as a “station wagon”, so falls under “other). Can anyone shed any light on this? Thanks in advance!

Hi I am really confused about the potential rebates/tax credits available for an EV6 in MA. I get that there is a state rebate of USD 2,500 for cars less than USD 50,000 (including state tax?), but if I go for an AWD GT-line (probably close to USD 58,000 + tax), would I still be eligible for the USD 7,500 Federal tax credit? The dealer I discussed this with said that it would not be eligible for either ☹. If this is the case, can anyone please also confirm whether there is a max car value which the Federal tax credit applies to (I read there was a plan to limit to USD 80,000 for SUVs and USD 55,000 for “other” - and the EV6 might be classed as a “station wagon”, so falls under “other). Can anyone shed any light on this? Thanks in advance!

yes you qualify for the federal $7500 tax credit if you lease Kia does not pass along the $7500 tax credit they keep it

 

[Jack mannix]

yes you qualify for the federal $7500 tax credit if you lease Kia does not pass along the $7500 tax credit they keep it

In order to take advantage of the $7500 tax credit when purchasing you have to have $7500 at least in tax liability for the year you cannot carry it over

 

[aminking]

Thanks for the quick response. The dealer is pretty sure the car wouldn’t qualify for the USD 7,500 credit, even though I sent them the IRS webpage which shows it does. The confusion is around the MA state incentive of USD 2,500 for EVs under USD 50,000, as the dealer seems to believe the 2 incentives are one and the same (and that would not qualify for either as the car costs over USD 50K). I asked another dealer, and they just told me to seek tax advice… Doesn’t seem like the dealers really know, or they would use it as a marketing tool!

 

[Jack mannix]

Thanks for the quick response. The dealer is pretty sure the car wouldn’t qualify for the USD 7,500 credit, even though I sent them the IRS webpage which shows it does. The confusion is around the MA state incentive of USD 2,500 for EVs under USD 50,000, as the dealer seems to believe the 2 incentives are one and the same (and that would not qualify for either as the car costs over USD 50K). I asked another dealer, and they just told me to seek tax advice… Doesn’t seem like the dealers really know, or they would use it as a marketing tool!
[/QUOTE
CPA

He’s a salesman not A CPA

 

[Cnsheets]

State incentives are separate from the IRS $7500 incentives. Here in Califronia, they just changed the income qualifications for the state rebate, which I'll miss qualifying for by $80. But I still qualify for the IRS federal incentive. How much of the $7500 is dependent on your tax liability.