$5000 EV Rebate Workshop October 4, 2010

[TRONZ]

Good Morning All,

mwalsh is right, you need to have the VIN number before you can apply for the rebate. It is our understanding that you will only recieve your VIN number at the point of purchase. So, unfortunately you will not be able to reserve your rebate.

Makes sense! IMHO I think that the CA rebate should just be based on the time of EV delivery. This makes it very fundamental and easy for people to understand. The application should just be part of the purchase paperwork. The dealer signs it, time stamps it and gives it to you to complete and turn in. It also helps the CA Rebate program keep clear track of who got EV's and when. "Reserving" the rebate could easily backfire if you reserve too early and the 14 days expires without a completed application. Cars get stuck in ports all the time. Maybe this thought is just a spinoff of Leafs that have been reserved, with open dashboards but not ordered yet. Seems most fair to support the people that are not only willing to order a Leaf but, most importantly, sign on the dotted line to actually purchase the car. This is where all the rubber meets the road... IMHO.

 

[hill]

This whole ecotality/ev project thing ... it never fails to baffle folks. Do the math:

California: . . . . Over 30 million people (close to 40 mil ... but let's round down)
Oregon: . . . . . Over 3 million people

Yet in their infinite wisdom, ecotality is putting TWICE as much effort into Oregon EVSE startup infrastructure. In most people's whacky thinking, Oregon would necessarily get 1/10 the startup infrastructior based on their population ... or from the other view, that CA would get 10X more. So the math would suggest that Ecotality's system is about 20X lopsided. When someone asks ... I simply haven't been able to reconcile that. Other glaring issues abound as well ... but that one stands out the most.

As for the $5K "rebate" ?? Um, you mean "credit"? Who is the person (or, who are the people) 'teaching' about tax credit issues, I'm wondering. CPA(s)? Tax attorney(s)?

.

 

[TRONZ]

I believe the Federal $7500 is a Tax Credit. The $5000 is a CA State Rebate. Others know more but no matter what, the Leaf is going to be a Fantastic Deal for everyone in line! For me, it will save over $200 a month over our Civic Hybrid. Can't imagine how much people will save over a normal car.

 

[Center4Energy]

hill, TRONZ is right. The $5000 rebate is not a tax credit. If you purchase a new LEAF and are approved for the rebate you will recieve a check for $5000. However, if you lease a LEAF and are approved for the rebate you will still benefit from the rebate. In this case the $5000 rebate will reflected in your purchase price, reducing your overall monthly lease payment.

The $7500 Federal tax credit is indeed a tax credit.

 

[garygid]

Still, is the CA Rebate Taxable as income?

Official ruling?

 

[malloryk]

If you purchase a new LEAF and are approved for the rebate you will recieve a check for $5000. However, if you lease a LEAF and are approved for the rebate you will still benefit from the rebate. In this case the $5000 rebate will reflected in your purchase price, reducing your overall monthly lease payment.

The $7500 Federal tax credit is indeed a tax credit.

hi david, just curious about this statement although I'm sure all will be covered in your workshop So if you choose to lease, do you not get the $5000 check directly? Would it go to the leaser?

 

[garygid]

If it goes to the lease holder, do they have to pay tax on it?

 

[LEAFer]

hill, TRONZ is right. The $5000 rebate is not a tax credit. If you purchase a new LEAF and are approved for the rebate you will recieve a check for $5000. However, if you lease a LEAF and are approved for the rebate you will still benefit from the rebate. In this case the $5000 rebate will reflected in your purchase price, reducing your overall monthly lease payment.

The $7500 Federal tax credit is indeed a tax credit.

Whaaaat ??? That's the first I have heard that the $5k rebate is handled differently for buyers versus lessees ! If the $5k is really reducing the purchase price ... wouldn't NILT have to apply for it ?

Do you have the $5k and the $7.5k reversed ? The $7.5k for lessees is what reduces the lease payment.

(Also ... did you miss my question about "Is the $5,000 taxable" from yesterday ?)

Thanks ... your feedback is appreciated.

 

[hill]

hill, TRONZ is right. The $5000 rebate is not a tax credit. If you purchase a new LEAF and are approved for the rebate you will recieve a check for $5000. However, if you lease a LEAF and are approved for the rebate you will still benefit from the rebate. In this case the $5000 rebate will reflected in your purchase price, reducing your overall monthly lease payment.

The $7500 Federal tax credit is indeed a tax credit.

Great! And thanks for the clarification (though it smells of 'abuse' to high heaven ... as folks could then turn around ... sell their ride, and really clean up ... there goes the ex-public defender/seen it all sorta thing in me).
So ... what about the other prong of my inquiry ... the credentials of the folks speaking?

 

[mwalsh]

Double WHAAAAT? I'm sure you're wrong about the $5k rebate C4E.

 

[Center4Energy]

Hello all,

In an earlier post I stated "However, if you lease a LEAF and are approved for the rebate you will still benefit from the rebate. In this case the $5000 rebate will reflected in your purchase price, reducing your overall monthly lease payment."

THIS IS INCORRECT. If you LEASE a LEAF and are APPROVED for the rebate you will recieve a check for $5000.00. The rebate WILL NOT be reflected in your purchase price, reducing your monthly payment. This will happen with the $7500.00 Federal tax credit.

I apoligize for any confusion that this statement made. In the world of tax credits and rebates I got the two mixed up. I assure you this will not happen again.

David

A big thanks to mwalsh and LEAFer for questioning this.

 

[Kataphn]

Hey David, we have been months hashing all this out and getting clear on the rebate and tax credit differences. Welcome to the club! Thanks for checking out your info and posting.

 

[EVDRIVER]

David,
I missed the answer regarding funds. If you buy a leaf in 2010 and the funds are gone and more funds come in 2011 can you apply for those funds even though you bought in 2010?

 

[hill]

David,
I missed the answer regarding funds. If you buy a leaf in 2010 and the funds are gone and more funds come in 2011 can you apply for those funds even though you bought in 2010?

. . . . and I missed the part about the credentials of the person(s) doing the workshop.

.

 

[garygid]

If you get the $5000 CA rebate and do not keep the car for at least 3 (I think, but maybe 5?) years, you have to pay back part of the rebate.

All the rules and Application Form are (at least were) on the CCSE website.

The tax status of the rebate was not mentioned.

 

[Center4Energy]

EVDRIVER: When CVRP funds are depleted, applications will be placed on a waiting list pending future funding. If and when additional funding is available, the applicant will receive a rebate based on their placement in the queue.

hill: The workshop will have presentations by representatives from the California Center for Sustainable Energy to talk about the Clean Vehicle Rebate Project. San Diego Gas and Electric to discuss the EV rate structure and impacts to the grid. And ECOtality, which administer the EV Project.

Let me know if this answers your question.

 

[EVDRIVER]

EVDRIVER: When CVRP funds are depleted, applications will be placed on a waiting list pending future funding. If and when additional funding is available, the applicant will receive a rebate based on their placement in the queue.

hill: The workshop will have presentations by representatives from the California Center for Sustainable Energy to talk about the Clean Vehicle Rebate Project. San Diego Gas and Electric to discuss the EV rate structure and impacts to the grid. And ECOtality, which administer the EV Project.

Let me know if this answers your question.

Yes, thank you.

 

[TRONZ]

David,
I missed the answer regarding funds. If you buy a leaf in 2010 and the funds are gone and more funds come in 2011 can you apply for those funds even though you bought in 2010?

. . . . and I missed the part about the credentials of the person(s) doing the workshop.

.

I think the workshop is really just to neatly package what information one needs to successfully submit the rebate. I would hope that Leaf early adopters not need a CPA/Lawyer to instruct them in a rebate for their car. Your typical Environmentalist is probably better informed and has more common sense than those fine folks.

.

 

[hill]

EVDRIVER: When CVRP funds are depleted, applications will be placed on a waiting list pending future funding. If and when additional funding is available, the applicant will receive a rebate based on their placement in the queue.

hill: The workshop will have presentations by representatives from the California Center for Sustainable Energy to talk about the Clean Vehicle Rebate Project. San Diego Gas and Electric to discuss the EV rate structure and impacts to the grid. And ECOtality, which administer the EV Project.

Let me know if this answers your question.

Yes, thank you.

+1

 

[pksd1]

Signed up...looking forward to the workshop.