Free Lsv (cart)

[LONE-STAR]

Has anybody done this, know anything about it, or any info on it.
http://freeelectriccar.com/shopdisplaycategories.asp?id=1&cat=Electric+Cars

 

[DisneyBishops]

Looks to me that you have to pay for it up front. And then hope you can get a tax credit. Good luck getting a tax credit. The tax credit will probably be worth about what a 3 dollar bill is worth.

 

[ftwildernessguy]

This is the first I've heard of a tax credit for an electric golf cart. I'm betting it doesn't work.

 

[Pirate-Jeff]

it's also on the club car site.

 

[OK GRUMPY]

There was an advertisement from the local Golf Cart place in the paper that reflected a tax credit.. I kinda thought it wasn't real but maybe it is.

 

[LORNADUCK]

My Husband sells Alumacar, and they are waiting to be approved for the tax credit. It has to be a cart that is street legal, has to meet certain conditions. From what we understand the IRS tells you how much the tax credit will be depending on the cart. The cart has to be registered like a car, and the person who sells it has to have their car dealer license. Your store has to be approved as a dealership. Our store has been approved and my Son has taken the course to be a dealer, we are just waiting for IRS approval. There are different amounts of credits depending on a lot of factors. I think some carts have been approved, but not many. Will let you know more as I find it out. Oh the carts have to be purchased by 12/31/09 to get the credit.

 

[des1954]

You file for the credit with your income tax return. I would kind of doubt this incentive would apply to golf carts unless they were street legal. Most golf carts aren't.

This does apply to GEM Cars and any other totally electric vehicle. We bought our GEM 2 years too late!

 

[ftwildernessguy]

The amount of credit also depends on your tax liability, which I know of many people who have bought homes hoping for that big tax credit, but their income isn't high enough to qualify for the full amount and are going to be surprised in April. If you only pay 6000 bucks in taxes, you aren't gonna get an 8000 dollar tax credit. I'm also wondering about the additive properties of these credits - if you buy a house and a qualifying cart, do you get to combine both credits? My personal guess is that, as April approaches, the "grey areas" of these tax credit rulings are going to become clearer, and will be more in favor of the government when they acually realize how much tax revenue they are going to lose. Remember the cash for clunkers program? Now there was some careful planning by the government.

 

[DisneyBishops]

Jim i have to agree with your insight. No way would i buy just hoping the gov would give me a tax credit. Then again if any of his buddies are in the cart business then it may well be true. Wonder if the carts are coming from chicago?

 

[LORNADUCK]

Deb, only certain golf carts are able to get the credit. Some of them are able to be street legal. they have to have 8 batteries (I think that is the case) and apply for SLV status, but must have a full windshield and wiper. Most golf carts can't qualify.
I agree with Jim, the government hasn't been clear on what they are going to do, and if you read the fine print it says to check with your accountant or the person who is doing your taxes, it looks to me the government is not committing themselfs and you might get it if you qualify.
There are golf cart dealers advertising that you get the cart free or next to free, but aren't telling all the details, I am not sure if anyone really knows all the details. I know my Husband has deposits on carts that people will buy if we get approved (which we should), but he can;t promise what they will get.

 

[des1954]

I pose the question of the day.....

"In your lifetime, has the government ever been clear on anything?"

 

[bigdisneydaddy]

clear as mud.