Quote:
Originally Posted by Rekla
If the new tax bill is passed as is, January 1st the federal incentive of $7,500 is no longer available. The 'proposed house version' of the new tax bill repeals this incentive:
Present Law
A credit is available for new four-wheeled vehicles (excluding low speed vehicles and vehicles weighing 14,000 pounds or more) propelled by a battery with at least 4 kilowatt-hours of electricity that can be charged from an external source. The base credit is $2,500 plus $417 for each kilowatt-hour of additional battery capacity in excess of 4 kilowatt-hours (for a maximum credit of $7,500). Qualified vehicles are subject to a 200,000 vehicle-per manufacturer limitation. Once the limitation has been reached the credit is phased down over four calendar quarters.
House Bill:
The provision repeals the credit for plug-in electric drive motor vehicles.
Effective date:
The provision is effective for vehicles placed in service in taxable years beginning after December 31, 2017.
Senate Amendment:
No provision.
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per manufacturer limitation, right? BMW is way under that. Only Tesla have that issue.