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Since it is build in Alabama, can you take an American delivery equivalent of European delivery? Meaning, Pick it up at the factory? Also I'm thinking to sell my 580 and get the SUV 580 in order to get the tax credit. Any thoughts?
2020 E53 CABRIOLET 2021 S580 (TRADED), 2023 EQS580 SEDAN SEDAN
Originally Posted by bgrewal
Since it is build in Alabama, can you take an American delivery equivalent of European delivery? Meaning, Pick it up at the factory? Also I'm thinking to sell my 580 and get the SUV 580 in order to get the tax credit. Any thoughts?
If you sell you car outright you will get hit up with the additional taxes on that sum since it's not a trade-in, I think it's only European delivery? You better check EV tax credit, I believe it's only American cars using American parts and under $62.000.00, that may be now or go into effect Jan 1, not sure about that time frame?
If you sell you car outright you will get hit up with the additional taxes on that sum since it's not a trade-in, I think it's only European delivery? You better check EV tax credit, I believe it's only American cars using American parts and under $62.000.00, that may be now or go into effect Jan 1, not sure about that time frame?
SUV qualifies for the rebate. As long as the final assembly is in USA then it qualifies.
2020 E53 CABRIOLET 2021 S580 (TRADED), 2023 EQS580 SEDAN SEDAN
[QUOTE=bgrewal;8666339]SUV qualifies for the rebate. As long as the final assembly is in USA then it qualifies.[/QUOTE
My problem is I never own money, always get a slight refund, so tax credit to me is meaningless. The Cadillac EV rear drive is under the guidelines, the all wheel drive goes up a few thousand and doesn't qualify, I think somewhere in the low $60,000 is the cut off point?
2020 E53 CABRIOLET 2021 S580 (TRADED), 2023 EQS580 SEDAN SEDAN
[QUOTE=ALANPRIEBE;8666356]
Originally Posted by bgrewal
SUV qualifies for the rebate. As long as the final assembly is in USA then it qualifies.[/QUOTE
My problem is I never own money, always get a slight refund, so tax credit to me is meaningless. The Cadillac EV rear drive is under the guidelines, the all wheel drive goes up a few thousand and doesn't qualify, I think somewhere in the low $60,000 is the cut off point?
Vehicles Placed in Service After December 31, 2022
Beginning January 1, 2023, the Clean Vehicle Credit provisions remove manufacturer sales caps, expand the scope of eligible vehicles to include both EVs and FCEVs, require a traction battery that has at least seven kilowatt-hours (kWh), and establish criteria for a vehicle to be considered eligible that involve sourcing requirements for critical mineral extraction, processing, and recycling and battery component manufacturing and assembly. Vehicles that meet critical mineral requirements are eligible for $3,750 tax credit, and vehicles that meet battery component requirements are eligible for a $3,750 tax credit. Vehicles meeting both the critical mineral and the battery component requirements are eligible for a total tax credit of up to $7,500.
Critical Minerals: To be eligible for the $3,750 critical minerals portion of the tax credit, the percentage of the value of the battery’s critical minerals that are extracted or processed in the United States or a U.S. free-trade agreement partner or recycled in North America, must increase according to the following schedule:
Year Critical minerals minimum percent value requirement 2023 40% 2024 50% 2025 60% 2026 70% 2027 and later 80%
Battery Components: To be eligible for the $3,750 battery components portion of the tax credit, the percentage of the value of the battery’s components that are manufactured or assembled in North America must increase according to the following schedule:
Year Battery components minimum percent value requirement 2023 50% 2024 and 2025 60% 2026 70% 2027 80% 2028 90% 2029 and later 100%
To be eligible for the credits under these provisions, vans, sport utility vehicles, and pickup trucks must meet the additional requirements of not having a manufacturer suggested retail price (MSRP) above $80,000, and all other vehicles may not have an MSRP above $55,000. Additionally, the eligibility of individuals for the tax credit is further limited by thresholds for modified adjusted gross income (MAGI); only individuals having a MAGI below the following thresholds are eligible for the tax credit:
$300,000 for joint filers
$225,000 for head-of-household filers
$150,000 for single filers
Further guidance on these provisions is forthcoming. For more information, including additional eligibility requirements, see the IRS Plug-In Electric Drive Vehicle Credit website.
Since it is build in Alabama, can you take an American delivery equivalent of European delivery? Meaning, Pick it up at the factory? Also I'm thinking to sell my 580 and get the SUV 580 in order to get the tax credit. Any thoughts?
According to my SA, Alabama pick up option is not offered.
If you can get the SUV delivered by the end of 2022, tax credit will apply but not after. In 2023, the $80,000 cap on SUV starts to kick off.
EQS580 sedan ordered mid-August arriving 11/14. I realize black/sable brown nappa is less popular than black with grey, especially with cirrus silver. Will post photos
SUV qualifies for the rebate. As long as the final assembly is in USA then it qualifies.
My problem is I never own money, always get a slight refund, so tax credit to me is meaningless. The Cadillac EV rear drive is under the guidelines, the all wheel drive goes up a few thousand and doesn't qualify, I think somewhere in the low $60,000 is the cut off point?
Getting a refund doesn't mean you don't get the credit. What matters is your tax liability, not the amount due. When I claimed it in the past, it increased my refund from $400 to $7900.
SUV qualifies for the rebate. As long as the final assembly is in USA then it qualifies.[/QUOTE
My problem is I never own money, always get a slight refund, so tax credit to me is meaningless. The Cadillac EV rear drive is under the guidelines, the all wheel drive goes up a few thousand and doesn't qualify, I think somewhere in the low $60,000 is the cut off point?
You are getting refund because you paid more tax throughout the year then the amount you were supposed to be taxed. As long as the total amount of tax you are responsible for this year(2022) is larger than $7500, you will get the fully tax credit.
2020 E53 CABRIOLET 2021 S580 (TRADED), 2023 EQS580 SEDAN SEDAN
[QUOTE=rhyb618;8666781]
Originally Posted by ALANPRIEBE
You are getting refund because you paid more tax throughout the year then the amount you were supposed to be taxed. As long as the total amount of tax you are responsible for this year(2022) is larger than $7500, you will get the fully tax credit.
So what you are saying, if they deduct throughout the year $20,000.00 in taxes and even though I get money back when I file my taxes I'm still eligible for the $7,500.00 EV tax credit?
So what you are saying, if they deduct throughout the year $20,000.00 in taxes and even though I get money back when I file my taxes I'm still eligible for the $7,500.00 EV tax credit?
Hi all, firstly many thanks to all the posters here. It was a huge help. I’ve ordered a 450+ exclusive luxury. Thought it was worth sharing that the dealer has confirmed the car will be built to spec and they have no issues with sourcing of chips any more.
anyway, spec below. Would be good to get any feedback.
11-10-2022, 09:57 AM
