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NOW IS THE BEST TIME TO
PURCHASE A NEIGHBORHOOD ELECTRIC VEHILCE! |
PURCHASE A
NEW TOMBERLIN AND YOU MAY QUALIFY FOR TAX CREDIT WORTH
UP TO $4500!
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The Internal Revenue
Service has officially issued Tomberlin a letter of
certification acknowledging that Tomberlin has met the
guidelines and certification criteria necessary for
Tomberlin LSV’s to meet the requirements of the
Qualified Plug-In Electric Vehicle Credit as a
Qualified Plug-In Electric Vehicle. These tax credits
range from $4,234.72 to $5,485.72 depending on the
model, as detailed below:
The following Frequently
Asked Questions
should assist you in your understanding of how the
EESA tax credits may apply to purchases of Tomberlin
Low Speed Vehicles.
Does the Tomberlin
E-Merge and ANVIL Qualify? . . . . . .
Yes!
How much is the Credit for a Tomberlin E-Merge?
|
Model Years |
Low Speed
Vehicles |
Credit
Amount |
|
2008/2009/2010 |
Tomberlin
E-Merge E2 Low Speed Vehicle |
$ 4,234.72
|
|
2008/2009/2010 |
Tomberlin E-Merge E2
SS Low Speed Vehicle |
$ 4,493.26 |
|
2008/2009/2010 |
Tomberlin E-Merge E2
LE Low Speed Vehicle |
$ 4,493.26 |
|
2008/2009/2010 |
Tomberlin E-Merge E2
Shelby Low Speed Vehicle |
$ 4,234.72
|
|
2008/2009/2010 |
Tomberlin E-Merge E2
AC Drive Low Speed Vehicle |
$ 4,493.26 |
|
2008/2009/2010 |
Tomberlin E-Merge E4
Low Speed Vehicle |
$ 5,477.38
|
|
2008/2009/2010 |
Tomberlin E-Merge E4
SS Low Speed Vehicle |
$ 5,477.38
|
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2008/2009/2010 |
Tomberlin E-Merge E4
LE Low Speed Vehicle |
$ 5,477.38 |
|
2008/2009/2010 |
Tomberlin E-Merge E4
Shelby Low Speed Vehicle |
$ 5,477.38
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2008/2009/2010 |
Tomberlin E-Merge E4
AC Drive Low Speed Vehicle |
$ 5,477.38
|
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2008/2009/2010 |
Tomberlin Anvil AVL |
$ 5,485.72
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Does the Vehicle Have to
Be a 2009 Model Year Vehicle? . . . . No?
All new 2008, 2009 and 2010 model year Tomberlin LSV’s
qualify, as long as the vehicle was purchased on or
after January 1, 2009.
What is the Consumer
Deadline for Purchasing Vehicles?
The certification issued by the IRS is for all
consumer purchases through December 31, 2009, at which
time all manufacturers will need to re-submit their
qualifications under the revised provisions of
Internal Revenue Code 30D.
Do Traditional Golf Carts
Qualify? . . . . . No!
According to the IRS brief, vehicles manufactured
primarily for off-road use, such as for use on a golf
course, do not qualify for either credit.
Is There a Form the
Consumer must Complete to Receive the Tax Credit!
The IRS is developing the new form 8936 (Qualified
Plug-in Electric Drive Motor Vehicle Credit) which
will be available later this year and will be
available on our web site. This form will need to be
filed with you 2009 Federal Tax Return.
Can A Consumer Claim the
Credit on More Than One Vehicle? . . . . .
Yes?
According to the statute, these credits are vehicle
specific. As long as the consumer possesses the
requisite tax to absorb the total amount of the
credits, each vehicle should qualify for its own
credit.
Any Other Advice?
In this and any tax matter, taxpayers should consult
their tax advisor to determine qualification for any
tax credit and to clarify the benefit that may be
available given their individual circumstances.
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We have included below a copy of the actual press
release form the IRS.
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Tax Breaks Available for
Taxpayers Who Purchase Qualified Plug-In Electric
Vehicles
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IR-2009-45, April 24, 2009
WASHINGTON - Plug-in electric vehicles using certain
types of batteries may qualify for a new tax credit if
purchased this year, the Internal Revenue Service said
today.
The Emergency Economic Stabilization Act of 2008 (EESA)
and the American Recovery and Reinvestment Act of 2009
(ARRA) created two new tax credits for various types
of electric vehicles, which may include what are
commonly referred to as neighborhood electric
vehicles. ARRA creates a tax credit for low-speed or
two- or three-wheel electric vehicles, such as motor
scooters, purchased after Feb. 17, 2009, and before
Jan. 1, 2012. The amount of the credit is 10 percent
of the cost of the vehicle, up to a maximum credit of
$2,500. To qualify, a vehicle must be either a
low-speed vehicle that is propelled to a significant
extent by a rechargeable battery with a capacity of at
least 4 kilowatt hours or be a two- or three-wheeled
vehicle that is propelled to a significant extent by a
rechargeable battery with a capacity of at least 2.5
kilowatt hours.
EESA created a tax credit for vehicles that have at
least four wheels and draw propulsion using a
rechargeable traction battery with at least four
kilowatt hours of capacity. For 2009, the minimum
credit is $2,500 and the credit tops out at $7,500 to
$15,000, depending on the weight of the vehicle and
the capacity of the battery.
During 2009, low-speed, four-wheeled vehicles
manufactured primarily for use on public streets,
roads and highways (neighborhood electric vehicles)
may qualify both for the EESA credit and, if purchased
after February 17, 2009, for the ARRA credit for
low-speed electric vehicles. A taxpayer may not claim
both credits for the same vehicle. Vehicles
manufactured primarily for off-road use, such as for
use on a golf course, do not qualify for either
credit.
The Internal Revenue Service is working on guidance
regarding certification procedures for both of these
credits. |
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