$7500 Federal Tax Credit coming by years end? - says Tesla Rep

[CyberT]

TLDR;
A guy you don't know tells you of a conversation with another guy that both you and he don't know about something that you really want to be true, and it will come true sooner than you think.



Take it for what it's worth; it might not be much except for dreams and wishes.

I stopped by a showroom today to update my order from Cyber Wheels to CORE Wheels, keeping the total under $80k, in hopes that the Cybertruck will soon be eligible for the $7500 Federal Tax POS credit.

The rep who helped me was very knowledgeable about the Cybertruck; he knew all the news stories we talk about here and answered all my questions. I asked him if the $7500 would be approved soon. He replied that it was a "paperwork" thing, and he claimed that the Cybertruck WILL be quickly approved for the $7500 to be available before the end of the year as they will push for every demand lever to deliver all they can before year's end.

I've waited five years. What's another month or two for a chance to get $7,500 knocked off?

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[Gatec77]

That is good news. Thanks for sharing.

 

[mongo]

TLDR;
A guy you don't know tells you of a conversation with another guy that both you and he don't know about something that you really want to be true, and it will come true sooner than you think.



Take it for what it's worth; it might not be much except for dreams and wishes.

I stopped by a showroom today to update my order from Cyber Wheels to CORE Wheels, keeping the total under $80k, in hopes that the Cybertruck will soon be eligible for the $7500 Federal Tax POS credit.

The rep who helped me was very knowledgeable about the Cybertruck; he knew all the news stories we talk about here and answered all my questions. I asked him if the $7500 would be approved soon. He replied that it was a "paperwork" thing, and he claimed that the Cybertruck WILL be quickly approved for the $7500 to be available before the end of the year as they will push for every demand lever to deliver all they can before year's end.

I've waited five years. What's another month or two for a chance to get $7,500 knocked off?

It's beyond paperwork. As long as Tesla is using 4680 cells with imported Chinese cathodes, the Cybertruck will not qualify for any Clean Vehicle Credit.
Getting their internal dry battery electrode (DBE) process running, into production vehicles, and sold in 2024 would allow the credit. As would Panasonic sourced 4680s.
In 2025, Chinese sourced minerals will result in disqualification. I'm not sure on their supply chain.

 

[CyberT]

It's beyond paperwork. As long as Tesla is using 4680 cells with imported Chinese cathodes, the Cybertruck will not qualify for any Clean Vehicle Credit.
Getting their internal dry battery electrode (DBE) process running, into production vehicles, and sold in 2024 would allow the credit. As would Panasonic sourced 4680s.
In 2025, Chinese sourced minerals will result in disqualification. I'm not sure on their supply chain.

Thanks for the clarification.

 

[M0unt41nm4n]

It's beyond paperwork. As long as Tesla is using 4680 cells with imported Chinese cathodes, the Cybertruck will not qualify for any Clean Vehicle Credit.
Getting their internal dry battery electrode (DBE) process running, into production vehicles, and sold in 2024 would allow the credit. As would Panasonic sourced 4680s.
In 2025, Chinese sourced minerals will result in disqualification. I'm not sure on their supply chain.

Not true.

https://www.tesla.com/support/incentives#new-vehicles

Look under Commercial Vehicles:

Inflation Reduction Act

As part of the 2023 Inflation Reduction Act, eligible businesses and tax-exempt organizations can claim up to a $7,500 credit when purchasing new Tesla vehicles with a gross vehicle weight rating (GVWR) of up to 14,000 pounds. All Tesla passenger vehicles qualify for this incentive:

• Model S
• Model 3
• Model X
• Model Y
• Cybertruck

Additionally, Semi qualifies for a tax credit of up to $40,000.

 

[mongo]

Not true.

https://www.tesla.com/support/incentives#new-vehicles

Look under Commercial Vehicles:

Totally true:
I'm talking about 30D for the average consumer. "Any" refers to not getting a partial credit on the mineral side.

the Cybertruck will not qualify for any Clean Vehicle Credit.

You are referencing 45W: Credit for Qualified Commercial Clean Vehicles

 

[M0unt41nm4n]

Totally true:
I'm talking about 30D for the average consumer. "Any" refers to not getting a partial credit on the mineral side.

You are referencing 45W: Credit for Qualified Commercial Clean Vehicles

Correct. You had mentioned Clean Vehicle credit and I assumed you were referring to that. I specifically put my CT in my business to take that ?. I got an additional 5000.00 from Colorado too, so 12,500.00 back in total. I was happy because even with sales tax, my CT cost me 93k. I was pretty happy.

 

[Gurule92]

Correct. You had mentioned Clean Vehicle credit and I assumed you were referring to that. I specifically put my CT in my business to take that ?. I got an additional 5000.00 from Colorado too, so 12,500.00 back in total. I was happy because even with sales tax, my CT cost me 93k. I was pretty happy.

Did they do CO POS for you? Or was that before they started doing that

 

[mongo]

Correct. You had mentioned Clean Vehicle credit and I assumed you were referring to that. I specifically put my CT in my business to take that ?. I got an additional 5000.00 from Colorado too, so 12,500.00 back in total. I was happy because even with sales tax, my CT cost me 93k. I was pretty happy.

Nice!
Unfortunately for me, contract software work doesn't really justify a vehicle.

I try to use the full credit name to reduce confusion but they are very similar.

 

[M0unt41nm4n]

Nice!
Unfortunately for me, contract software work doesn't really justify a vehicle.

I try to use the full credit name to reduce confusion but they are very similar.

It does! . Thats what I do. Just be sure it's S-corp or LLC. I mean... sometimes you do need to haul computers and racks, right? You sometimes need to pick up stuff from UPS, no?

It qualifies... talk to your accountant.

 

[M0unt41nm4n]

Did they do CO POS for you? Or was that before they started doing that

No...I get it when I do my taxes. It comes as a credit. It will be all passthrough to my personals.

 

[mongo]

It does! . Thats what I do. Just be sure it's S-corp or LLC. I mean... sometimes you do need to haul computers and racks, right? You sometimes need to pick up stuff from UPS, no?

It qualifies... talk to your accountant.

Yeah... my accountant...
So far the truck has 5,400 miles 15 of which are business related.

 

[brandonhd]

It does! . Thats what I do. Just be sure it's S-corp or LLC. I mean... sometimes you do need to haul computers and racks, right? You sometimes need to pick up stuff from UPS, no?

It qualifies... talk to your accountant.

S-corp is a pass through LLC. I believe you have to file the tax credit on the personal level and not the business. So the commercial wouldn’t apply. Right?

 

[M0unt41nm4n]

S-corp is a pass through LLC. I believe you have to file the tax credit on the personal level and not the business. So the commercial wouldn’t apply. Right?

Nope. Not true. It's most certainly a business. Yes, if the LLC is considered a "disregarded entity"m then it may cause issues. But as long as you file a tax return for the business and yourself (two tax returns total), then it works perfectly.

Scorp and LLCs qualify fully. S-corp is a passthrough on a K1. LLC works similarly.

 

[M0unt41nm4n]

Yeah... my accountant...
So far the truck has 5,400 miles 15 of which are business related.

Yeah... if only 15 qualify, then it gets difficult. Since I live rural, my first stop is the post office every morning. That helps it significantly and it's 15 miles one way. UPS is 18 miles. Also if you visit any clients, that would count too.

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