[rhodomel]

and the bad news for those earning over $150K and good news for those earning less than $150K in Callyfornia:

if you earn less than $150K, your rebate could be as high as $4,500 for the Chevy Bolt, and as high as $3,500 for the Chevy Volt.


https://electrek.co/2016/10/18/cali...me-buyers-makes-earners-over-150k-ineligible/

 

[DA\Volt]

This is different than the $1500 CARB rebate?

This is something related to filing your income tax returns, correct?

Sent from my Nexus 6P using Tapatalk

 

[Foxtrot]

No, this has nothing to do with filing your returns.
It is a tax-free rebate from the state.

At lower income levels its worth more.

It phases out completely with incomes above 150K for singles and 300K for couples.

 

[aspomwell]

and good news for those earning less than $150K in Callyfornia

Nope, good news for those earning less than $71550 (3 x poverty level for a family of four)

 

[Whatstreet]

So, for couples at less than $300K annual will get $4500 (CA) + $7500 (FED) making total government incentive $12000! Way cool!

 

[HniC45Jx5!]

Starting Nov 1, there is a $2000 bonus in addition to the $2500 for Bolts, and $1500 for Volts IF you are less than 3 times the Federal Income Tax Poverty Level:

Household Size 300% FPL
1 $35,640
2 $48,060
3 $60,480
4 $72,900
5 $85,320
6 $97,740
7 $110,190
8 $122,670

If you buy right now, the bonus is $1500.

 

[aspomwell]

oh sure, be more thorough than me!

 

[HniC45Jx5!]

I think it's sort of funny that as a reward for cheating on your taxes, you can now buy cars cheaper.

Do they want to sell as many EV's as possible, or expand entitlement programs?

Seriously, some family that makes $60k with 1 kid should not be shopping for Teslas. Heck, even new Volts are bit pricey at that income level. Note that they WON'T qualify for the Fed $7,500 program because they are probably not paying $7,500 in Fed Income Tax, so the car costs even more than it does for those who pay $7,500+ in taxes.

 

[quasimatter]

So as I read this:
If income less than:
Household Size 300% FPL
1 $35,640
2 $48,060
3 $60,480
4 $72,900
5 $85,320
6 $97,740
7 $110,190
8 $122,670

Rebate on Bolt $4500 - Rebate on Volt $3500

If income higher than above BUT lower than:
$150,000 for single filers
$204,000 for head-of-household filers
$300,000 for joint filers

Your rebate is $2500 for Bolt and $1500 for Volt

If income higher than above:

Your rebate is $0 for Bolt and $0 for Volt.

Did I read this right?

To me this seems overall negative news (especially for Tesla buyers).

BTW - this should be in buying/leasing forum.

 

[Veej]

Remember - all of this only for eligible vehicles bought on/after November 1.

Phew ! glad I bought before that. I am now only waiting for the check ...

 

[Qinsp]

Remember - all of this only for eligible vehicles bought on/after November 1.

Phew ! glad I bought before that. I am now only waiting for the check ...

If you are middle to upper class and make under $300k a year as a married couple, nothing changes for you.

If you make under 3 times the Federal Poverty Level, you get a bigger bonus.

Example - If I make $140k a year as a single, I get my normal rebate of $1500 for a Volt or $2500 for a Spark EV.
if I make $35,000 a year or less as a single, today I get $1500 MORE for either car, $3000 and $4000.
Come Nov 1, it become $2000 more for either car.

The person who can responsibly budget a brand new EV purchase but cannot afford a new P90DL Tesla in not going to be affected.