Prius Prime Preliminary State Tax Credit Discussion

Relevant text:

"(a) Category 1. ... (II) With respect to the tax years commencing on or after JANUARY 1, 2017, but prior to January 1, 2020, FIVE THOUSAND DOLLARS FOR A PURCHASE OR TWO THOUSAND FIVE HUNDRED DOLLARS FOR A LEASE" source: Alternative Fuel Motor Vehicle Income Tax Credits - HB 16-1332

definition:
"Category 1: Electric and plug-in hybrid electric vehicles not exceeding 8,500 lbs" source: https://www.colorado.gov/pacific/sites/default/files/DR0617.pdf

 

I don't think the program has ended, it's just that Illinois isn't paying anything to anybody. The state hasn't approved a budget since the new governor was sworn in. I don't want to get political so I'll only say that both parties here are screwed up. And us taxpayers are the ones getting screwed.

 

Mass updated site this week to show it is 1500 for the prime

 

thanks! unfortunate that they didn't do better than pip, but 6k off ain't bad!

 

And the Illinois politicians are so corrupt we still don't have a budget much less a tax credit.

 

Colorado from 2017: $5000 and refundable credit !

 

sweet.

 

Truly. While the maximum dropped from $6k, the calc giving more money to higher battery capacity cars was discarded. This new rebate could have been written by Toyota it so strongly favors them. I presume it is unintended and will be corrected once the EV buying public catch on to the deal and ignore the other competitors.

 

I don't follow the other plug-in manufacturers closely, but I was thinking about the fraction of the car cost covered by the $5000.

 

Becareful, $1500 for household income is less than 300K. You'd better add that.

 

Is CA a tax credit or a rebate? I got the impression for their website that it's a rebate.

It takes about 30-40 days for them to process it, and then (per my recent e-mail) 90 days to get the check.

You will need to scan the entire sales contract to their website, FYI. I had to make several partial copies because my home scanner could only handle 8x11 paper.

 

In California, where I live in San Diego, it is a rebate via California Air Resources Board or CARB. Their website has a 27 page PDF with instructions and examples for the documents you must submit for review and approval for the $1500 basic rebate. A larger rebate is available as others have pointed out for those with lower income. And no rebate for those with “single OR household” incomes over certain thresholds.
Documents necessary include: the car sales or lease contract, a copy of your California Drivers License (as proof of residency), proof of DMV registration and a signed copy “Clean Vehicle Rebate Project”.

Additionally, you could be “randomly” selected for income verification. That means, forced to submit IRS form 4506-T which gives them access to your ferderal 1040 income tax forms. And, you must submit a household income verification which includes minors age 17 who are working.

After electronic submission you are provided an estimate on the number of days before it even gets reviewed for errors or omissions. I submitted my rebate application on 3/17/2018 and the site indicated it would be 37 business days before the first review. No estimate was given on the granting of the rebate.

Last thing, like all of these government rebates there is a finite amount of money available for rebates. There was no indication regarding the status of funds available.

 

When CA reviews it, they wil e-mail you if anything is amiss. For me, they couldn't read the sales contract and needed a cleaner copy. Once I sent them that, I was approved within hours.

VVTiBob you should get a response by the end of April. Then it's up to 90 days for your money.

I also think people who applied late last year when there was no more money got paid this year.

 

My rebate approval processing took 32 days. Payment of the rebate ($1500 in California) will take another 90 days per their rebate approval email notice. Not that I am complaining, but this another example of how slowly the government works when returning money to taxpayers. The sales tax on this car more than covered this rebate and it seems to me it would have been more efficient to just reduce the sales tax on the spot! Unless, of course, the goal was to use my money for 120 days for free.

 

Didn't read anything above about Oregon news on this subject. They have or will have (unless it gets cancelled) a rebate program that the legislature should be finalizing this month (May, 2018). There is some litigation though that may end it before it starts.