Plug-In » taxes http://www.plug-in.com Accelerated Hybrid and Electric Car Resource Thu, 11 Mar 2010 00:17:02 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Stimulus Bill Facilitated by Grass-Root Supporters http://www.plug-in.com/stimulus-bill-facilitated-by-grass-root-supporters/ http://www.plug-in.com/stimulus-bill-facilitated-by-grass-root-supporters/#comments Fri, 20 Feb 2009 03:30:41 +0000 Rick http://www.plug-in.com/?p=83 handshake ]]> handshake
In a press release by Jay Friedland of Plug In America, we learn that the non-profit organization helped organize many thousands of emails to various congressional representatives in support of favorable provisions to be added to the stimulus bill.  They claim to have played a key role in the formulation of an amendment by Sen. Maria Cantwell (D-WA), which extended a 10% tax credit to three-wheeled electric vehicles, electric motorcycles, “Neighborhood” Electric Vehicles, and gas/hybrid cars that have been converted to plug-ins.

Along with Plug In America, another non-profit group, CalCars.org,  and various hybrid and plug-in manufacturers formed a coalition to encourage (successfully) greater tax credits and infrastructure stipulations within the plan signed by President Obama.

Read the whole statement here.

Join the forum discussion on this post - (1) Posts ]]> http://www.plug-in.com/stimulus-bill-facilitated-by-grass-root-supporters/feed/ 0 An In-Depth Look into the Green Car Provisions in the Stimulus Package http://www.plug-in.com/an-in-depth-look-into-the-green-car-provisions-in-the-stimulus-package/ http://www.plug-in.com/an-in-depth-look-into-the-green-car-provisions-in-the-stimulus-package/#comments Tue, 17 Feb 2009 07:18:29 +0000 Rick http://www.plug-in.com/?p=76 stimulus-money ]]> stimulus-money

Green Car Advisor has delved a bit further into the Economic Recovery and Reinvestment Act of 2009, revealing many of the numbers that were designed to jumpstart the product of hybrid and electric vehicles.

Conventional hybrid manufactuers will continue to enjoy a $3,400 tax-credit for their first 60,000 hybrids, followed by a %50 drop each of the following 6 months.   Of course, companies like Toyota have already used up all of these tax-credits, while General Motors still has its full reserve available.

State sales taxes for the purchase of hybrid cars can be written off as federal income tax deductions.  This provision applies to other fuel-efficent vehicles, and interestingly, includes purchases of  Dodge Rams , Lincoln Navigators and Hummers (?).

Plug-in Vehicles enjoy the largest bounty of the Recovery Act, with tax credits going as high as $15,000 per vehicle.   The deductions are tiered according to the capacity of the vehicles battery pack and the weight of the vehicle itself.    Eligible vehicles must be powered by a battery pack with at least 4 kilowatt-hours to qualify for a $2,500 tax credit.  Each extra kilowatt-hour of capacity qualifies for an extra $417 credit, with cars under 10,000 pounds topping out at $7,500.  According to the article, “For vehicles weighing from 10,001 pounds to 14,000 pounds, the maximum credit is $10,000; it jumps to $12,500 for 14,001- to 26,000-pound vehicles; and tops out at $15,000 for vehicles in excess of 26,000 pounds.”

Interestingly, the growing popularity of aftermarket conversions of hybrid cars , such as the Toyota Prius, into plug-ins with all-electric range, can qualify the owner for a 10%  (of conversion cost) tax savings — up to $4,000.   Even electric motorcycles and low speed electric vehicles (EVs) qualify for a $2,500 credit.

There are also billions in the stimulus package dedicated to providing the sort of technology and infrastructure needed to convert America’s automobiles into less gas-dependent resources.

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