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Discussion Starter · #1 ·
I've noticed many Bolters here saying, "$7,500 federal tax rebate plus $2,500 state tax rebate, and so are subtracting $10,000 from the dealer's asking.

Here in Washington, we have no state income tax; the WA tax rebate is on the sales tax, so we're just not paying the additional 8.2%, but the state sales tax forgiveness in no way reduces the dealer's asking price.

What and how are the state tax rebates in your states?

Also, I notice some calculations include, "$500 rebate from my utility." If one chooses not to install a L2 home charger, then that's a valid reduction against the net, but so state. If used against the cost of the L2, then it's not in my mind a valid computation of the cost of the car.

jack vines
 

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In NY the $2k rebate goes to the dealer and comes right off the price of the car. No sales tax discount in NY.

I like the way NY handles the rebate, as the purchaser or lessee doesn’t need to fill out any additional paperwork or tax forms, or file a tax return to get the rebate. I’m pleasantly surprised that Albany actually got something right.

NY doesn’t have any EVSE purchase or installation rebate for individuals, only for commercial use installations, and the local utility here on LI doesn’t offer any off-peak utility rates for EV charging. It’s always being “studied”, but PSEG-LI is not an EV friendly utility.
 
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My Bolt sticker was $39,690 + $ 2,381 sales tax + $600 tag title and dealer fees for a grand total of $42,600. The out the door price was $38,000. I traded a 2012 Volt for $8,000 and paid $30,000 cash. The state of MD. gave me $3,000 & $7,500 federal equals $27,500 after all credits and discounts. $19,500 if you take the trade off.
 
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MASS has a $2500 cash rebate, Fed $7500 off your taxes (if you can use it) and I had a $10,000 trade in and a $5,500 rebate off the car from the dealer
I have the Premier so If I get all that, it is $ 17,500

even if I can't use all the fed tax rebate it is still $25k for the car

AND... I Paid cash so I have no Finance/Interest payments added to the cost !
 

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Here in Northern California, Bolt buyers are eligible for the following:

$7,500 federal income tax credit: all US taxpayers are eligible for this. This tax credit may be scaled back later this year, at least for GM hybrids and EVs.

$2,500 rebate from the California Center for Sustainability: https://energycenter.org/program/clean-vehicle-rebate-project. This is funded by 'cap and trade' money, not tax dollars, and is available exclusively to California residents. Other states have similar programs.

$500 rebate from PG&E: https://www.pge.com/en_US/residenti.../clean-fuel-rebate-for-electric-vehicles.page. A home charging station is NOT required to be eligible for this rebate. Available only to PG&E customers. Other utility companies have similar programs.

Additional rebates are available in some counties in California. Check the long list at http://upliftca.org/resource-finder...8MIJWWKNy45dJ5V7MGzWGvR90bUHiPWAaAte7EALw_wcB
Significant drilling is required, but the rewards are $500 or more.

I also got a $700 Costco gift card when I purchased my Bolt in December 2017. This program expired January 2, 2018. I think this was available to all Costco 'premium' members ($120 per year membership fee) who bought or leased a GM vehicle.

If you do install a home charging station, there is also a federal income tax credit of 30% of the cost of the parts and (I think) installation. All US taxpayers are eligible for this tax credit. See other posts on this forum for details.

PG&E does offer reduced electricity rates for off-peak usage, but their EV programs are no better than their standard time-of-use programs. All time-of-use programs are about 43 cents per kWh peak, about 23 cents per kWh partial-peak and about 12 cents per kWh off-peak.
 

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I've noticed many Bolters here saying, "$7,500 federal tax rebate plus $2,500 state tax rebate, and so are subtracting $10,000 from the dealer's asking.

Here in Washington, we have no state income tax; the WA tax rebate is on the sales tax, so we're just not paying the additional 8.2%, but the state sales tax forgiveness in no way reduces the dealer's asking price.

What and how are the state tax rebates in your states?

Also, I notice some calculations include, "$500 rebate from my utility." If one chooses not to install a L2 home charger, then that's a valid reduction against the net, but so state. If used against the cost of the L2, then it's not in my mind a valid computation of the cost of the car.

jack vines
Yeah, here's what I listed in the "How much below MSRP thread":
Maryland:
White Premier w/DCFC, DC2, Info.
MSRP = $43,725
Price = $35,636 (a discount of ~$8,000)
OTD = $39,500

Will get ~$9,700 back from the State and Feds.


I listed what and where I was buying. What the sticker MSRP was, and what they actually asked for, then added in taxes and fees for the OTD price. All generic and publicly available. Nothing special or unique like trade-ins, GM credits, etc.
I then listed the rebates as they did factor into my purchasing decision (I was trying to keep the net cost below $30k). Those rebates were not available if I purchased an ICE car. And it turned out I was wrong. In MD the law was originally written to refund sales tax UP TO $3000 - which at 6% on a ~$36k car should have been about $2200. However they actually sent a check for the full $3000. I can't explain it. There are almost no cars available that would qualify for the full $3k credit as the purchase price was capped at $60k (so no Model S or X), and you'd have to spend $50k to get the full $3k. Unless you ordered your Model 3 some years ago and configured it just so, you'd be getting less than $3k. I'm not going to look an $800 gift horse in the mouth, but I would have been just as happy if they used those funds to extend the program (last year they used allotted funds before the fiscal year ended) or to invest in EVSE's.

Side note: someone correctly pointed out that my discount wasn't really $8k as the sticker "MSRP" included the Dest charge, while the "Price" did not. So my actual discount was closer to $7k - which worked for me 'cause I'm now Boltin' around!!!.
 

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Discussion Starter · #7 ·
Yes, thanks all for the clarifications. Since the federal tax rebate is a known, but not everyone can use it, a valid comparison for most here would be net-out-the-door; including all unrebated sales taxes, license fees, paperwork fees, destination charges, dealer prep, extended warranty, paint guards, deluxe floor mats, et al, but not including any trade-in.

jack vines
 

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Yes, thanks all for the clarifications. Since the federal tax rebate is a known, but not everyone can use it, a valid comparison for most here would be net-out-the-door; including all unrebated sales taxes, license fees, paperwork fees, destination charges, dealer prep, extended warranty, paint guards, deluxe floor mats, et al, but not including any trade-in.

jack vines
It should be clarified. The Fed $7500 is a credit not a rebate. They don't send you a check like others do. You can only benefit from the credit if you owe taxes to the Feds in that one year. It is not transferable to other tax years. If you owe no taxes you get no benefit. If you only owe say $3000, then you will only benefit by $3000 and there is no refund check coming.

The other thing that people miss is, the actual rebate checks you get from the various states and utility agencies are considered taxable income and you will pay taxes on them, so you never get the full face value deducted from your purchase.

Still all these things are better than nothing!! :)
 

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I forgot the Costco 700. so mine is $16,800


You CAN'T do out the door compare with "unrebated sales taxes, license fees, paperwork fees, destination charges, dealer prep, extended warranty, paint guards, deluxe floor mats, et al,"
All states and even just counties in each state are different.

You can only compare the car price alone (rebates from dealers) And even that is not a good judge.

If your State does not have a rebate, and mine does but yours doesn't then that slues the chart.


also this has been debated before. If you read them you will see that your answers are answered.
 

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Yes, thanks all for the clarifications. Since the federal tax rebate is a known, but not everyone can use it, a valid comparison for most here would be net-out-the-door; including all unrebated sales taxes, license fees, paperwork fees, destination charges, dealer prep, extended warranty, paint guards, deluxe floor mats, et al, but not including any trade-in.

jack vines
My brain hurts. All I know is the joy of driving the Bolt, and getting anything monetary back is a bit of icing on the cake.
 

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... wait till you try to claim the $7,500 credit on your 1040... then your head will really hurt! :crying:

I remember back in the day before e-file and computers, etc... at tax time my father would gather up an armload of paperwork, receipts, etc... and close his office door for a few hours. Hours later when he was done with both the State and Fed returns he would emerge in a state that I once described as "it looks dad just went 10 rounds with a pro boxer".

What happened to "you'll be able to file your taxes on an index card?".....
 

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It should be clarified. The Fed $7500 is a credit not a rebate. They don't send you a check like others do. You can only benefit from the credit if you owe taxes to the Feds in that one year. It is not transferable to other tax years. If you owe no taxes you get no benefit. If you only owe say $3000, then you will only benefit by $3000 and there is no refund check coming.

The other thing that people miss is, the actual rebate checks you get from the various states and utility agencies are considered taxable income and you will pay taxes on them, so you never get the full face value deducted from your purchase.

Still all these things are better than nothing!! :)
Thanks for the reminder about the $7500 being non-refundable and also not being able to carry-over any unused credit into next year.

I leased instead of buying primarily because I couldn’t take advantage of the $7500 credit. Not sure how much of that $7500 actually got factored into my lease, but it was a lot better than $0.

As for the NY $2000 credit, that was paid to the dealer, not the purchaser, so I really don’t know whether it’s considered income to the purchaser. New York hasn’t sent me a 1099 or other tax forms for 2017, which leads me to believe the $2k is not considered taxable income.
 

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New York hasn’t sent me a 1099 or other tax forms for 2017, which leads me to believe the $2k is not considered taxable income.
NY State had originally stated that they would 1099 everyone who got their $2K "Drive Clean" rebate... but I haven't gotten a 1099 from them yet either. I'm itching to do my taxes to get the $7,500 back... but I don't want to have to file an amended return because I filed and then got a 1099 from NYS the next day in my mailbox.

They also said you have to keep the Bolt 3 yrs in order to not be charged back on the rebate if you sold it.
They didn't indicate if the chargeback would be prorated based on the 3 year period.
 
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