braineo
Well-known member
didn't see such limitations in the law, I'm myself getting a 2014 if available by end of this year
ccheath776 said:dont forget. If you have the AFV tag on your vehicle you also get to go through the tolls on 400 for free.
Gearscout said:I have reserved a Leaf S for commuting to work here in Georgia. It's a LEASE.
If I understand correctly, my MSRP of $29,000 will be reduced $7500 to $21500 for the purpose of the cost basis.
Thus, instead of qualifying for the full $5,000 tax credit, I would get a tax credit around $4,225. Or is there any consideration of the additional money I will pay in Ad Valorem taxes, etc.?
Is that correct? Still a helluva deal. Used the VPP program.
The EVSE installation/purchase tax credit is only Federal, correct? GA seems to only give this to businesses.
Thanks!
braineo said:Anybody has gotten the Georgia Tax credit when purchasing from a dealer in another state?
WOuld that affect the tax credit at all?
jvdhoeven said:Some years I have been owed a refund from GA State after filing my taxes. Could the tax credit potentially pay me additional money IF I've paid in a lot to GA State based off my W-2?
hnatkin said:I'm confused about the tax credit on a lease.
The tax rule states "20% of the vehicle cost or $5,000 tax credit is allowed for the purchase or lease"
If the lease payments come out to about $7000, would I only get a $1400 credit? Or would actual vehicle value (most of which I am not paying) be figured in, which would take me back up to the $5k credit?
Anyone have any better understanding of the tax law?
Brubaker said:I'm looking to lease a Leaf. If my income tax liability is so low that it would take 3 years to receive the full $5K tax credit, would my lease need to be for the entire 3 year period, or would I somehow be guaranteed the full $5K (over 3 years) even on a 2 year lease?
Thanks to anyone who can help!
leafatl said:Brubaker said:I'm looking to lease a Leaf. If my income tax liability is so low that it would take 3 years to receive the full $5K tax credit, would my lease need to be for the entire 3 year period, or would I somehow be guaranteed the full $5K (over 3 years) even on a 2 year lease?
Thanks to anyone who can help!
You would be able to spread it across up to 5 years, regardless of the length of the lease.
CmdrThor said:leafatl said:Brubaker said:I'm looking to lease a Leaf. If my income tax liability is so low that it would take 3 years to receive the full $5K tax credit, would my lease need to be for the entire 3 year period, or would I somehow be guaranteed the full $5K (over 3 years) even on a 2 year lease?
Thanks to anyone who can help!
You would be able to spread it across up to 5 years, regardless of the length of the lease.
This is contradictory to information received by one of the Atlanta Leaf Owners Facebook group members. He was told you must still own (or be leasing) the car each year you take the credit. It would be advisable to contact the Department of Revenue and/or the Department of Natural Resources to get direct clarification before leasing.
leafatl said:Can you point to the location in the tax code (or even the link to the Facebook post) where this was stated?
Here's a link to the fact sheet for the credit: http://www.georgiaair.org/airpermit/downloads/mobilearea/engines/Alternative%20Fuels/levzevfs.pdf" onclick="window.open(this.href);return false;
Edit: I think I found the post you're referring to, but it's just saying that you can't sell the car before you claim the credit: https://www.facebook.com/groups/ATL.Leaf.Owners/permalink/461561380581740/" onclick="window.open(this.href);return false;
Once you claim the credit (while you still own the car), you're eligible to carry it over for up to 5 years, regardless of whether or not you own the car.
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