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Reply #28: Source is wrong: it's not $75 tax rebate, it's "Up to $7500" tax rebate to buy an electric car [View All]

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txlibdem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-06-11 09:31 PM
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28. Source is wrong: it's not $75 tax rebate, it's "Up to $7500" tax rebate to buy an electric car
And that is only the federal incentive.
"For Cars

$2,500 to $7,500 tax credit, depending on size of battery (4 kWh to 16 kWh), for electric-drive vehicles (EVs and PHEVs) sold after December 31, 2008. This is the best and biggest new incentive brought on by the American Recovery and Reinvestment Act of 2009 (stimulus bill), and applies to at least 200,000 units per auto manufacturer before it phases out."

For example: the upcoming plug-in Toyota Prius will get you about $3000 tax rebate from the feds while a Chevy Volt or Nissan Leaf will get you the full $7500.

But it doesn't stop at the federal level. Many states (not mine so far (bummer)) offer additional incentives.

Colorado is highest at $6000 (so you add the state incentive and federal incentive, total of $13,500)
Next at $5000 state incentive are California, Oregon, and Georgia. (Georgia!!!!)

You can read the full text at the above link for Plug In America for which states give you carpool lane access, tax rebates on the cost of the charger. Some states even waive all sales tax if you buy an electric vehicle!

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