bronsonb
Posts: 82
Joined: Mon Nov 19, 2012 12:19 pm
Delivery Date: 23 Nov 2012
Leaf Number: 021512

Re: Any Leafs delivered to Georgia yet?

Sat May 11, 2013 7:09 am

Daniel is correct...you can roll over the GA rebate for up to five years. Thanks for correcting me there! It's the federal rebate that cannot be rolled over (but with the lease, Nissan gives that to you as a capital cost reduction).
Bronson B
Marietta, GA

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nogajim
Gold Member
Posts: 309
Joined: Wed Apr 20, 2011 1:26 pm
Delivery Date: 22 Jun 2011
Leaf Number: 3300
Location: Georgia
Contact: Website

Re: Any Leafs delivered to Georgia yet?

Sat May 11, 2013 7:13 am

getabetterpic wrote:
bronsonb wrote:...

As for the charger credit, I don't have the details in front of me, but I recall it was only for COMMERCIAL chargers. I don't think GA gives you a credit for one you install in your home (but I might be wrong).
I've not looked closely at GA, but I'm pretty sure you can get a federal deduction for 30% of the installation of the charging station.
Yes. The federal credit was reinstated this year. I missed out on it in 2011 because I bought the Leaf and was taking the $7500 on the same return. This kicked in something called a Temporary Minimum Tax (or something like that) that kept me from taking the deduction and the credit in the same year. Since you are leasing, and didn't get the $7500 directly, I assume this would not apply to you. :)
2011 LEAF SLe delivered June 2011
Status: Lost 1st Bar 6-20-13 17,500 mi. Sold 7-19-2014, 28,700 mi - still 1 bar down
2015 SV delievered 7-19-2014
http://www.evclubsouth.org

sonnylax
Posts: 170
Joined: Fri Apr 19, 2013 10:57 am
Delivery Date: 23 Apr 2015
Location: Peachtree Corners, GA

Re: Any Leafs delivered to Georgia yet?

Sat May 11, 2013 10:49 am

cracovian wrote:Is that $179 inclusive of all the fees and taxes? Is that for a 2013?
Yes, 2013 Leaf S with quick charger.

Read here:
http://www.mynissanleaf.com/viewtopic.p ... 47#p285747" onclick="window.open(this.href);return false;
and here:
http://www.mynissanleaf.com/viewtopic.p ... 96#p286196" onclick="window.open(this.href);return false;

sonnylax
Posts: 170
Joined: Fri Apr 19, 2013 10:57 am
Delivery Date: 23 Apr 2015
Location: Peachtree Corners, GA

Re: Any Leafs delivered to Georgia yet?

Sat May 11, 2013 10:50 am

bronsonb wrote:Hi Sonnylax-
Congrats on the Leaf Lease. I think you'll be pleasantly surprised to learn you should get the full $5,000 tax credit. The credit of 20% of purchase price up to $5K is based, for leases, on the capitalized cost. So as long as the capitalized cost is at least $25K, you get the full $5,000. It's not, as I thought once too, based on what you actually pay out of pocket for the Leaf.

I can attest to this as I've already received by $5,000 for the Leaf I leased last November.

Although you have to file by paper for the EV credit, I received mine in about 4 - 6 weeks. Much faster than those who submitted in 2011 and had to wait about six MONTHS from what I hear.

As for the tax liability statement, that just means that you have to pay at least $5,000 in taxes to get the full $5,000. If you only paid $4K in taxes, then you'd only get $4k for the credit. I think you already figured out that it's your tax liability and not your actual refund.

As for the charger credit, I don't have the details in front of me, but I recall it was only for COMMERCIAL chargers. I don't think GA gives you a credit for one you install in your home (but I might be wrong).
I don't follow you. The State of GA mails you a check for $5k, outside your normal Fiscal Year Tax Refund??

bronsonb
Posts: 82
Joined: Mon Nov 19, 2012 12:19 pm
Delivery Date: 23 Nov 2012
Leaf Number: 021512

Re: Any Leafs delivered to Georgia yet?

Sat May 11, 2013 1:54 pm

Sorry about the confusion. The $5K is PART of your refund. Let's say you had a total tax liability of $10,000 for state of GA. You had withheld $7,000. Normally you'd get back $3,000. But if you leased the Leaf, you'd end up getting back $8,000 (your normal $3K plus the $5K tax credit for leasing the Leaf).

If you go through TurboTax or TaxCut, you'll see where you can insert the tax credit to see how your taxes would have fared for 2012.
Bronson B
Marietta, GA

sonnylax
Posts: 170
Joined: Fri Apr 19, 2013 10:57 am
Delivery Date: 23 Apr 2015
Location: Peachtree Corners, GA

Re: Any Leafs delivered to Georgia yet?

Sat May 11, 2013 6:09 pm

bronsonb wrote:Sorry about the confusion. The $5K is PART of your refund. Let's say you had a total tax liability of $10,000 for state of GA. You had withheld $7,000. Normally you'd get back $3,000. But if you leased the Leaf, you'd end up getting back $8,000 (your normal $3K plus the $5K tax credit for leasing the Leaf).

If you go through TurboTax or TaxCut, you'll see where you can insert the tax credit to see how your taxes would have fared for 2012.
If you have 10,000 in tax liability but only withheld 7000 - you would owe the state $3k before the $5k EV tax credit comes into play. So you would get back $2k - not $8k.

bronsonb
Posts: 82
Joined: Mon Nov 19, 2012 12:19 pm
Delivery Date: 23 Nov 2012
Leaf Number: 021512

Re: Any Leafs delivered to Georgia yet?

Sat May 11, 2013 6:40 pm

Darn! My math has gotten poor! Thanks for swooping in and clarifying. No fuzzy math needed. Just someone who can add and subtract (obviously not me).
Bronson B
Marietta, GA

sonnylax
Posts: 170
Joined: Fri Apr 19, 2013 10:57 am
Delivery Date: 23 Apr 2015
Location: Peachtree Corners, GA

Re: Any Leafs delivered to Georgia yet?

Sun May 12, 2013 3:38 pm

So it's a $5k Tax Credit, assuming you have at least $5K in GA Tax Liability for the Fiscal Year. Regardless of what money is withheld OR what ever GA Tax Credits you are entitled too?

getabetterpic
Posts: 7
Joined: Mon Apr 15, 2013 7:46 pm
Delivery Date: 08 Apr 2013

Re: Any Leafs delivered to Georgia yet?

Sun May 12, 2013 7:47 pm

sonnylax wrote:So it's a $5k Tax Credit, assuming you have at least $5K in GA Tax Liability for the Fiscal Year. Regardless of what money is withheld OR what ever GA Tax Credits you are entitled too?
Almost. It is a $5k tax credit, assuming you have $5k in GA tax liability WITHIN THE NEXT 5 YEARS. This credit CAN be carried over for up to 5 years. And the second part is correct, this is regardiless of what money is withheld or other credits (as long as those other credits don't take your tax liability to $0).

EDIT:

I wanted to clarify this a bit. Say you have $2,400 in GA tax liability this year, so you want to use the credit. So you could use $2,400 of it this year, leaving a $2,600 carryover. Now suppose you still had $2,400 in tax liability in year 2. The $2,600 you didn't use the previous year can be applied to this, reducing your tax liability in year 2 to $0 again. In year 3, you again have $2,400 in tax liability, but there is $200 of the credit you still haven't used. This can be applied in year 3, bringing the tax liability down to $2,200.

So as long as you will have $5,000 in tax liability in the next 5 years, you should be able to use the entire tax credit.
Daniel | Black 2013 Leaf SL | Kennesaw

sonnylax
Posts: 170
Joined: Fri Apr 19, 2013 10:57 am
Delivery Date: 23 Apr 2015
Location: Peachtree Corners, GA

Re: Any Leafs delivered to Georgia yet?

Mon May 13, 2013 4:56 am

I think I understand it now...

I re-read the form. The EV Charger credit only applies to non-retail Business enterprises. So that wouldn't couldn't be used by a residential tax-payer.

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