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Originally Posted by Hersbird
That's also going to be a nightmare. Where do I go to check the IRS database to see if the used car I'm buying has already had it's credit used? Or do I just take the dealer's word?
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Carfax would have what you need. The bill reads that only the 2nd sale gets a used EV credit. If the car has more than 1 previous owner it doesn't qualify for a credit.
I'm not sure how the IRS will keep track of that or if they will. Much of our tax filing system is based on the honor system combined with the threat of an audit. I don't remember if there was any paperwork to prove I actually bought my super efficient heat pump when I claimed a tax credit for it.
Quote:
Originally Posted by redpoint5
Most of the used EVs in Oregon are coming from CA, because they can sell for a higher price here, because we offer $2,500 for moderate income families. Rather than a CA vehicle selling locally there, they get trucked up to lots in Oregon to fetch a higher sales price due to our manipulation of pricing. Perhaps the prices aren't a straight $2,500 higher than in CA, but my sense based on shopping is that our EVs are probably priced $1,500 higher than other places. A person that qualifies for the credit will end up owning an EV for slightly less than places without subsidy, after waiting a year to file taxes, but for everyone else, they pay more.
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I would say if the credit is leading to used EVs being shipped to Oregon the program is working better than expected. Why does Oregon have EV rebates? They want to increase the number of EVs sold in the state, lower CO2 emissions, and lower smog in major cities like the Portland metro.
The entire point of incentives is to increase the number of EVs in the state.
Quote:
Originally Posted by Hersbird
I also always vote against such things if put to a vote, and also gravitate toward any candidate who runs on a simplified tax code. Flat tax rate with no deductions or credits for anything would be ideal. Everybody pays the same percentage no matter the income source. Also be sure and count benefits as income to keep from making more loopholes on that end. Abolish the IRS almost completely and give very little for lobbyist to lobby for.
Again, I accept what is, is what is, and will work the system that is to my gain.
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I prefer a simple progressive income tax without deduction or credits. All income counts the same and yes, benefits are income.
Until then I follow the tax code as written.