tax credit gone for Leaf?

mwalsh said:

Not until Nissan sells 200,000 EVs in the US, and then it's only set to "phase out", whatever the heck that means.

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The new qualified plug-in electric drive motor vehicle credit phases out for a manufacturer’s vehicles over the one-year period beginning with the second calendar quarter after the calendar quarter in which at least 200,000 qualifying vehicles manufactured by that manufacturer have been sold for use in the United States (determined on a cumulative basis for sales after December 31, 2009) (“phase-out period”). Qualifying vehicles manufactured by that manufacturer are eligible for 50 percent of the credit if acquired in the first two quarters of the phase-out period and 25 percent of the credit if acquired in the third or fourth quarter of the phase-out period. Vehicles manufactured by that manufacturer are not eligible for a credit if acquired after the phase-out period.

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xbox409 said:

I have searched but didn't find any information on the $7500 tax credit. Is it still apply to Leaf? There is also news about they are increasing the tax credit from $7500 to $10000 but that was in May 2014.

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mwalsh said:

Not until Nissan sells 200,000 EVs in the US, and then it's only set to "phase out", whatever the heck that means.

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DaveinOlyWA said:

mwalsh said:

Not until Nissan sells 200,000 EVs in the US, and then it's only set to "phase out", whatever the heck that means.

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phase out reduces credit by half per quarter.

so first quarter after 200,000 are sold, credit is half. 2nd quarter credit is ¼, after that Nada

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The new qualified plug-in electric drive motor vehicle credit phases out for a manufacturer’s vehicles over the one-year period beginning with the second calendar quarter after the calendar quarter in which at least 200,000 qualifying vehicles manufactured by that manufacturer have been sold for use in the United States (determined on a cumulative basis for sales after December 31, 2009) (“phase-out period”). Qualifying vehicles manufactured by that manufacturer are eligible for 50 percent of the credit if acquired in the first two quarters of the phase-out period and 25 percent of the credit if acquired in the third or fourth quarter of the phase-out period. Vehicles manufactured by that manufacturer are not eligible for a credit if acquired after the phase-out period.

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tree1 said:

I talked to Nissan dealer just last week, they still mention $7500 tax credit. I assume still has it.
BTW, they told me $7500 is max Tax credit. Meaning depends on individual tax situation.
Some case may not get full $7500?

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For vehicles acquired after December 31, 2009, the credit is equal to $2,500 plus, for a vehicle which draws propulsion energy from a battery with at least 5 kilowatt hours of capacity, $417, plus an additional $417 for each kilowatt hour of battery capacity in excess of 5 kilowatt hours. The total amount of the credit allowed for a vehicle is limited to $7,500.

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Serf said:

After reading the details, it looks like you get $2,500 dollars for buying a qualified vehicle, then $417 dollars for every 5 kWh. So the Leaf boasts 24 kWh, which puts the credit at $1,164 + the $2,500.

Unless I'm reading this wrong... http://www.irs.gov/Businesses/Plug-In-Electric-Vehicle-Credit-(IRC-30-and-IRC-30D" onclick="window.open(this.href);return false

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For vehicles acquired after December 31, 2009, the credit is equal to $2,500 plus, for a vehicle which draws propulsion energy from a battery with at least 5 kilowatt hours of capacity, $417, plus an additional $417 for each kilowatt hour of battery capacity in excess of 5 kilowatt hours. The total amount of the credit allowed for a vehicle is limited to $7,500.

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