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The future owners of Tesla have until Monday to place their orders for an electric car benefiting from the total federal tax credit of $ 7,500 for new vehicles running on electricity.
According to the rules of the IRS, buyers enjoy full tax credit during the fiscal quarter in which a car manufacturer delivers its 200,000th electric vehicle. Tesla said in July that it has delivered 200,000 electric cars to the United States, which means the tax credit will start to decline for Tesla buyers after October 15th.
Meanwhile, Tesla's competitors with smaller fleets can continue to deploy electric cars with a full tax credit in effect.
The tax legislation passed by Congress late last year provides incentives in the form of tax credits that reduce the cost of electric vehicles. Available for the first 200,000 electric vehicles sold by a manufacturer, the tax credit is then reduced by 50% every six months until it disappears.
It is quite possible that no settlement of the IRS is ultimately important, as a senator introduced a bill that would completely eliminate tax credits for electric cars. The bill recently proposed by Wyoming Republican John Barrasso would not only end the credit, but would impose an additional federal tax on electric cars.
Nevertheless, as it stands now, orders placed before October 15, 2018 will be delivered by the end of the year and will be eligible for the total federal tax credit of $ 7,500, Tesla said.
After October 15, Tesla buyers will receive $ 3,750 for the first half of 2019 and $ 1,875 for the second half of this year, after which the tax credit will no longer be available for Tesla vehicles.
Tesla being in the end of the year deadline to distribute full tax credits, the company, with production process exceeded, could ask for trouble if an avalanche of orders arrived before Monday. Indeed, many consumers expect deliveries of Tesla Model 3 since the beginning of 2016.
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