Quote:
Originally Posted by Hersbird
But then if it's based on the dealership income or company income either lease or this point of sale, don't those places make over the income cap and therefore make them ineligible?
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Corporate incentives have different rules. There isn't an income cap
Quote:
Originally Posted by Hersbird
It will be a wait and see how the IRS interprets it because that's what will matter. Right now, don't have $7500 in tax liability, you don't get $7500. Make over $150,000 which would give you thar much in liability and you don't qualify for $7500. There is this narrow range of incomes that actually maximize the credit. Probably a single person making from $80,000 to $150,000 or a married couple making from $120,000 to 300,000.
I saw an article talking about getting both the maximum Oregon $7500 rebate and the max federal $7500 credit but I pointed out I didn't think this would be possible as the max income for the Oregon $5000 low to medium income rebate is $50,000. If you had kids that could go up, but then you have so many federal deductions you won't hit a $7500 liability there.
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You can combine both the Federal and Oregon incentives.
Everyone in Oregon gets $2500 towards a new EV. The extra $5,000 is for low to moderate income households. Those rules changed for 2023. The cap used to be 120% of the medium income based on zip code. For 2023 the program has the same incentive for the whole state. The max for an individual is $58,320. For a family of 4 it is $120,000. Rules here:
https://www.deq.state.or.us/ocvrp
It is unlike someone that meets the rules for the extra $5000 from Oregon will pay enough federal income taxes to claim the full federal credit. They would need to transfer the credit to the dealer or lease the vehicle to get $7500 from the feds.
$7,500 + $2,500 + $5,000 = $15,000 discount. Easy if you know how to do it.