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rebates

what rebates (federal/state) have people been able to get in california for purchase of model s?

The federal tax credit is $7500, assuming you have at least that much in tax liability. The state incentives can be found on an interactive map here:

http://www.pluginamerica.org/incentives

$2500 rebate in California.

it says "up to" $7500 so i was wondering what people are actually getting from state and federal tax rebates.

Do you mean tax credits? The federal tax credit for 2012 is $7500. I don't know what the state tax credit for CA is (GA is $5k).

For tax credits, you have to owe that much in taxes, which typically won't be a problem for someone buying a Model S -- but if it is there are tricks you can do like convert a traditional IRA to a Roth IRA and then use the tax credit to pay for the taxes from that conversion.

The "up to" part is because you have to owe that much. It is possible there are other circumstances, such as if AMT applies to you, where you might not get the full benefit. However nobody has filed their 2012 taxes yet so nobody could tell you what they actually received.

@jat, you can use the credit against the AMT.

$7500 Qualified Plug-in Electric Drive Motor Vehicle Credit (Federal)
$2500 Clean Vehicle Rebate Project (State)

Note that the "owed" does not mean "remains unpaid". It is total federal liability for the year. Even if you pay weekly by deduction and are paid up or overpaid, the annual total is the figure looked at.


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