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New Pricing-Federal Tax Credit Extension for 2013

I was lookin at the new blog entry about the increased pricing and noticed that TM is still including the $7,500 tax credit yet this particular credit expires at the end of 2012 with no word yet on if it will be extended in to 2013. Anyone heard anything? I tried to post on the blog but they haven't approved my comment yet.

The credit does not expire at the end of 2012 and does not need to be renewed or extended to continue. I think that's why they haven't approved your comment.

The Qualified Plug-in Electric Drive Motor Vehicles tax credit (IRC 30D), is valid until the manufacturer sells 200,000 vehicles. That is the only term for expiration of this credit.

There has already been a 'fiscal cliff' discussion here about whether this tax credit may be affected by sequestration. So far, there's no evidence that it's affected.

Here is the IRS page, which links to a list of eligible vehicles and manufacturers. Don't worry that it lists the Model S as "2012" - it also lists the 2013 Ford Fusion Energi which will not even go on sale until next year. If the program was scheduled to expire, it would be mentioned on the site, as it does for other programs (such as IRC 30, which applied to electric motorcycles and low-speed EVs and ended January 1st, 2012).

For further reading, I recommend the following sites:

Great info, thanks! I had posted this question on the Midrl S forum too and they mentioned this too. Yes, I do think that's why the comment wasn't approved- because I was misinformed! Good to know the incentive is around for a while longer.


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