GA EV tax credit almost repealed. Decision postponed.

[asemeco]

That is the version from yesterday:

Status History
Mar/18/2014 - Senate Passed/Adopted By Substitute

 

[jsongster]

This is a shame. The Republicans painting this as pork are simply in the pocket of big oil and the defense industry. The Koch Bros. oilmen are evil folks. They and their shell lobby shops like ALEC are responsible for these bad choices. The defense INDUSTRY ( not the soldiers) are also rotten to the core and padding their already overstuffed chairs on the fear of the other.

We all need BEVs and PHEVs to succeed to get off foreign oil and oil in general. Evil repugs need to go back into the holes they crawled out of.

 

[asemeco]

Well, at least we still have the tax credit. And if we reach the 2000 Leafs per year, it could be argued that this market segment is taking hold and no further stimulus is warranted.

The question is, is $10 million too small an amount?

It would be nice to have the numbers for 2013; I emailed the Georgia DNR office, asking for the number of tax credits approved last year. I will report if I get a reply.

 

[dalamchops]

Well, at least we still have the tax credit. And if we reach the 2000 Leafs per year, it could be argued that this market segment is taking hold and no further stimulus is warranted.

The question is, is $10 million too small an amount?

It would be nice to have the numbers for 2013; I emailed the Georgia DNR office, asking for the number of tax credits approved last year. I will report if I get a reply.

There were almost 900 Leafs sold/leased in december 2013. So yes, 2000 is easily achievable. This should've been revised so that leases should get a much smaller portion of the money vs car purchases

 

[asemeco]

Latest from the GA Legislature:

Status History
Mar/20/2014 - House Agrees Senate Amend or Sub As Amended

So, once the Governor signs it, it comes into effect on July 1st.

Until the last day of June, there are no caps. Same as before.

Starting in July, expect the $10M cap to be filled relatively quickly. It is hard to find out how popular the program is, but apparently around 1100 tax credit certificates have been received so far in 2013. Less than three months.

It could have been worse. At least they didn't repeal the tax credit entirely.

 

[leafatl]

Latest from the GA Legislature:

Status History
Mar/20/2014 - House Agrees Senate Amend or Sub As Amended

So, once the Governor signs it, it comes into effect on July 1st.

Until the last day of June, there are no caps. Same as before.

Starting in July, expect the $10M cap to be filled relatively quickly. It is hard to find out how popular the program is, but apparently around 1100 tax credit certificates have been received so far in 2013. Less than three months.

It could have been worse. At least they didn't repeal the tax credit entirely.

The fiscal year runs July to June - so it should start at 0 credits issued in July.

 

[DNAinaGoodWay]

Did they include an expiration date, or will the program continue until it's amended?

If it goes for a few years, folks will just wait until July 1 and it'll be first come first served.

 

[leafatl]

Did they include an expiration date, or will the program continue until it's amended?

If it goes for a few years, folks will just wait until July 1 and it'll be first come first served.

That's what I expect, but we need details on how they're going to track/enforce the limit before we'll really know. Maybe they'll create a pre-purchase registration program that provides a time window to purchase the car and still receive the credit, otherwise your "slot" expires.

 

[DaveEV]

There were almost 900 Leafs sold/leased in december 2013. So yes, 2000 is easily achievable. This should've been revised so that leases should get a much smaller portion of the money vs car purchases

Agreed. Cutting the rebate in half or more would have been much smarter.

Expect to see 2000 EVs sold in July this year in Georgia. The months leading up to July should be huge as well.

If Nissan and it's Georgia dealers are smart, they will push as much inventory towards Georgia as possible until July.

 

[CmdrThor]

The House amended the Senate version and sent it back for them to vote. The Senate never voted on it. The legislature has adjourned Sine Die and therefore the bill is dead, the tax credit will remain as is for the time being.

 

[DNAinaGoodWay]

Way to go GA!

Plus, gives EVs lots of free publicity.

 

[Stoaty]

Georgia Senate Runs Out Of Time To Vote On HB 257 – $5,000 EV Incentive Lives Another Year!

http://insideevs.com/georgia-does-not-cap-ev-incentive-hb257-doesnt-make-vote/" onclick="window.open(this.href);return false;

 

[nogajim]

Would the OP please edit the title to something more accurate?
Thanks!

Jim

 

[Mw422693]

Hi folks
Question about the GA tax credit. If you lease a leaf S, the credit is for up to $5000 and can be rolled over up to five years. My question, does the credit apply to your state income tax liability before withholdings are credited or after (towards any additional money you owe). And second, is there a minimum amount of liability that you must have in one year, to qualify for the tax credit?

I ask because
1. My withholdings deducted from my paychecks are always more than my year-end tax, so I always get a refund. If the credit applies on money you owe after accounting for with holdings, I would not be able to use it.

2. I've heard some people say the credit can only be used by people who have $5000 or more of liability in a single year. I.e., people who earn >$100,000 per year.
Thanks!
MW

 

[CmdrThor]

Hi folks
Question about the GA tax credit. If you lease a leaf S, the credit is for up to $5000 and can be rolled over up to five years. My question, does the credit apply to your state income tax liability before withholdings are credited or after (towards any additional money you owe). And second, is there a minimum amount of liability that you must have in one year, to qualify for the tax credit?

I ask because
1. My withholdings deducted from my paychecks are always more than my year-end tax, so I always get a refund. If the credit applies on money you owe after accounting for with holdings, I would not be able to use it.

2. I've heard some people say the credit can only be used by people who have $5000 or more of liability in a single year. I.e., people who earn >$100,000 per year.
Thanks!
MW

1. It has nothing to do with withholdings. If you have say $6,000 in liability, had $6,500 withheld, you otherwise would have gotten a $500 refund, now you would get $5,500 with the credit.

2. That's not true. If you have $2,000 in liability every year, you'll apply $2,000 of the credit the first two years, then $1,000 in the final year.

 

[DrivingFree]

Got my 2 year lease - and will get another when this one runs out if the credit is still there.

Gotta laugh at those trying to turn this into a Left/Right issue - I live in one of the reddest counties politically in the nation and I am seeing Leaf's EVRYWHERE here - not because we want to save the planet but because we want to save some cash!

 

[greengate]

Got my 2 year lease - and will get another when this one runs out if the credit is still there.

Gotta laugh at those trying to turn this into a Left/Right issue - I live in one of the reddest counties politically in the nation and I am seeing Leaf's EVRYWHERE here - not because we want to save the planet but because we want to save some cash!

 

[DNAinaGoodWay]

Got my 2 year lease - and will get another when this one runs out if the credit is still there.

Gotta laugh at those trying to turn this into a Left/Right issue - I live in one of the reddest counties politically in the nation and I am seeing Leaf's EVRYWHERE here - not because we want to save the planet but because we want to save some cash!

If it takes frugal people to save the planet, I could live with that.

 

[greengate]

Got my 2 year lease - and will get another when this one runs out if the credit is still there.

Gotta laugh at those trying to turn this into a Left/Right issue - I live in one of the reddest counties politically in the nation and I am seeing Leaf's EVRYWHERE here - not because we want to save the planet but because we want to save some cash!

If it takes frugal people to save the planet, I could live with that.

That's exactly why I bought the Leaf.

Sure save some money, but that was just a side reward for my actions.

I hope someday soon to see EV's as a common sight..on the road and in the parking lots...and having to explain to my great grand kids what a gas station was.

 

[cracovian]

Got my 2 year lease - and will get another when this one runs out if the credit is still there.

Gotta laugh at those trying to turn this into a Left/Right issue - I live in one of the reddest counties politically in the nation and I am seeing Leaf's EVRYWHERE here - not because we want to save the planet but because we want to save some cash!

Don't laugh yet. You may be red but the most LEAF drivers in north ATL (that's where the concentration is) are still basically foreign or H1B visa holders (Chinese and Southeast Asian IT workers.) Those people are or would indeed be democrat-leaning. You will not see many once you make it past Cherokee county and its 80%+ con concentration. The lt. governor may drive one but that's still a minority though it's slowly changing.

Don't get me wrong though - I agree that in theory it should be the other way around (or at least equal across the board) and "conserving" resources and energy independence should be a priority but everything is twisted in this country and especially our state. As a Republican of the early 90s, I find myself way to the left of the hard core commies and my views haven't really changed since then

When there's a systemic EV attack and belittling on Faux News then the tide doesn't come as quickly to everyone. When they say that using more oil is good for the country (demand creates much needed jobs) then you may even see the EVs, hybrids, and small cars as unpatriotic. Finally, when 99% state house Republicans vote to repeal the credit compared only to a handful of Democrats supporting them then it's hard not to look at it as nonpartisan.