I read that is is a limited offer that is presently expired. I guess we have to wait for the Texas legislature to fund more money. It is a limited program and looks to be first come first served.
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Texas EV Rebate/Credit - $2500
Any one aware if its true that TX VW ID4 owners can get an additional rebate of $2500? Appreciate any insight and the process to claim.
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Here is every state rebates: Alternative Fuels Data Center: State Laws and Incentives
And here is the TX state page: TX rebates where it says "The latest application period has ended. Applications may no longer be submitted for funding consideration. " with no information on when it may start again.
And here is the TX state page: TX rebates where it says "The latest application period has ended. Applications may no longer be submitted for funding consideration. " with no information on when it may start again.
Good luck in trying to find convenient well located EA charging stations for Tx driving...un-huh.
We are in San Antonio with a daughter in DFW area. Last weekend we visited and checked out the EA stations on I-35 between here and there. There is one at the Round Rock Outlet Mall and a second in Bellmead on the Walmart parking lot. Both are on the NB side of 35. It is 186 miles from our home to Bellmead station. That means one stop of 38 minutes charging should easily get us the 140 additional miles of the trip.Good luck in trying to find convenient well located EA charging stations for Tx driving...un-huh.
EA stations are primarily located along Texas Interstate Hwys about 100 between each.
We have the bare minimum to be able to move around the state on the interstates. I'd feel better about longer trips if there were a few more in between and some along the other highways. I'm sure they'll come in time though.We are in San Antonio with a daughter in DFW area. Last weekend we visited and checked out the EA stations on I-35 between here and there. There is one at the Round Rock Outlet Mall and a second in Bellmead on the Walmart parking lot. Both are on the NB side of 35. It is 186 miles from our home to Bellmead station. That means one stop of 38 minutes charging should easily get us the 140 additional miles of the trip.
EA stations are primarily located along Texas Interstate Hwys about 100 between each.
I believe it has been funded at least 3 separate times. When I used it, I think it was the second time they provided funding, almost 3 years ago, and I know they funded it once since. There may have been more times that I wasn't monitoring it. If I recall correctly, they actually back-dated when it could be applied to a purchase, so you may be lucky if you purchase your ID.4, and it comes out later; they may allow an earlier purchase date to still be used. The Texas site that was referenced above is a good one to keep checking, that's the one I used.
One thing to note, the IRS considers that type of rebate to be separated from the purchase (not a rebate instantly at the time of purchase), so the IRS considers that as "income", and you end up paying tax on it as income.
Also, the Federal taxes should still allow a claim for a home charger purchase and/or installation. I think I got about $300 toward my home charger on my annual taxes.
Also check with your local city, or power provider, sometimes there are rebates there also.
One thing to note, the IRS considers that type of rebate to be separated from the purchase (not a rebate instantly at the time of purchase), so the IRS considers that as "income", and you end up paying tax on it as income.
Also, the Federal taxes should still allow a claim for a home charger purchase and/or installation. I think I got about $300 toward my home charger on my annual taxes.
Also check with your local city, or power provider, sometimes there are rebates there also.
Everyone should check with their own accountant on this. The California Clean Vehicle Rebate Project specifically states:One thing to note, the IRS considers that type of rebate to be separated from the purchase (not a rebate instantly at the time of purchase), so the IRS considers that as "income", and you end up paying tax on it as income.
Also, the Federal taxes should still allow a claim for a home charger purchase and/or installation. I think I got about $300 toward my home charger on my annual taxes.
Also check with your local city, or power provider, sometimes there are rebates there also.
The CVRP rebate is not taxable income and the Administrator does not issue a 1099 for your rebate.
Yes, thanks for adding more detail and advice. The thread was started with a title for "Texas", so my comments were regarding how Texas treated the rebate.Everyone should check with their own accountant on this. The California Clean Vehicle Rebate Project specifically states:
The CVRP rebate is not taxable income and the Administrator does not issue a 1099 for your rebate.
I was surprised when I got the 1099 from Texas, I had assumed a "rebate" meant I did not have to pay tax on that.
I had to research to find out why they considered it to be taxable.
I knew it was Texas so didn't want to specify Texas interpretation but also didn't want people reading from other states to not look into it further. Strange that TX sends a 1099 and CA doesn't (curious about other states). I only looked into it as I got nervous since I didn't claim by rebate as income in 2018 (likely, if they sent me a 1099, I would have).Yes, thanks for adding more detail and advice. The thread was started with a title for "Texas", so my comments were regarding how Texas treated the rebate.
I was surprised when I got the 1099 from Texas, I had assumed a "rebate" meant I did not have to pay tax on that.
I had to research to find out why they considered it to be taxable.
Naturally, an internet search was fruitless with answers from both sides. IRS Publication 525 specifies Taxable and Nontaxable Income with was also useless.
From what I could make heads or tails, if the rebate/reward is specifically to offset a purchase and tied to the purchase (such as airline miles on expenditures), then it is nontaxable income; otherwise, it would be taxable (such as miles received for signing up a credit card). However, I am not an accountant so no one should use my interpretation.
There is proposed legislation in TX to renew the incentive. See here.
Time will tell whether it is renewed. The bad news for FE buyers is that, historically, the eligibility period began in fall, running into the following year. Then again, the FE "discount" for added options (hitch, gradient package, etc.) is probably worth more than the incentive, at least after taxes.
Time will tell whether it is renewed. The bad news for FE buyers is that, historically, the eligibility period began in fall, running into the following year. Then again, the FE "discount" for added options (hitch, gradient package, etc.) is probably worth more than the incentive, at least after taxes.
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