After applicable tax credits you can get an electric low speed vehicle for free. A low speed vehicle (max speed under 25 mph) is similar to a golf car, but it is street legal on streets with a posted speed limit of 35 mph or less. There is a federal tax credit available and some states have tax credits available as well. I live in Oklahoma and they have a tax credit that equals 50% of the purchase price on a fully electric vehicle. You can combine the two credits to essentially cover the price of the vehicle. I know of one mfr, www.tomberlin.net that has received a verification letter (posted on their website) from the IRS stating that a number of their vehicles qualify and another mfr, www.rtev.net say they should be receiving their letter soon. www.adaelectriccars.com has the tax credit information on their website.
I have an email into the Oklahoma Tax Commission to clear a few questions up and I will post updates as I receive them if I see that this thread is active.
Message edited by: scha2707 on 2009-08-26 10:37:05 CDT
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The federal tax credit is available in any state. Some states, like OK, have additional state tax credits.
I'm in the process of verifying if the federal tax credit is refundable or non-refundable. If it is non-refundable, then it cannot make your tax liability less than $0.
prastogi said:so its only true if you live in OK? maybe you can update the title. No go for CA>Why no go for CA? CA gives $2500 credit for such vehicles.
Just got one from www.starelectricvehicles.com Got the hunting buggie (Star-48L-22F) http://www.starelectricvehicles.com/pdfs/Star-48L-22F%20or%206SF... with upgraded aluminum wheels for $7700 with a $5335 federal tax credit nd a $1066 SC state credit.. They have one that isn't lifted with smaller tires that looks more like a regular golf cart for $6700 with $5335 federal tax credit... They also have the IRS certification letter listed on their website with detailed info on what credit is available for each of their 10 vehicles that qualify. Their credit is more than Tomberlin because their cars have 8-6volt batteries and Tomberlins have 6 8volt batteries.... Plus Tomberlin doesn't offer the fold down backseat... The Star hunting buggie gives you the ability to drive off road with the larger 22" tires and being lifted.
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