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Discussion Starter · #1 · (Edited)
The 2016 Volvo XC90 T8 PHEV approved for US tax credit

On the fueleconomy.gov web site it is listed as:
2016 XC-90 T8 Twin Engine Plug in Hybrid

https://www.fueleconomy.gov/feg/taxevb.shtml

Eligible for $4,585 credit

IRS IRC 30D qualified vehicles:

https://www.irs.gov/Businesses/Qualified-Vehicles-Acquired-after-12-31-2009

[HR][/HR]
In the US - installation of a home charging station (retroactively in 2015 and in 2015) may qualify for an Alternative Fuel Infrastructure Tax Credit - see here:

http://www.afdc.energy.gov/laws/10513
 

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From what I've heard, I believe we should expect the T8 to be eligible for a CA tax credit as well. But it's not listed on the approved vehicle list yet:
cleanvehiclerebate.org

I expect it will be categorized with the other plug-in hybrids, and thus be eligible for $1,500.
 

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From what I've heard, I believe we should expect the T8 to be eligible for a CA tax credit as well. But it's not listed on the approved vehicle list yet:
cleanvehiclerebate.org

I expect it will be categorized with the other plug-in hybrids, and thus be eligible for $1,500.
According to the rules posted there, the vehicle has to have an eligibility date that is prior to purchase/lease date. Since T8s are (finally) starting to trickle into CA dealerships, does that mean that the early adopters will lose out on this benefit? Or will the eligibility be backdated to the date of CARB approval?
 

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Remember also that beginning on January 1, there is now an income cap on the California rebate. If you make north of $250,000 you will no longer be eligible for it.
 

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According to the rules posted there, the vehicle has to have an eligibility date that is prior to purchase/lease date. Since T8s are (finally) starting to trickle into CA dealerships, does that mean that the early adopters will lose out on this benefit? Or will the eligibility be backdated to the date of CARB approval?
I would assume that no one in CA would have been able to take delivery of a T8 until after CARB approval, which happened a little while ago. So I don't think that's a situation that is likely to exist.
 

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I would assume that no one in CA would have been able to take delivery of a T8 until after CARB approval, which happened a little while ago. So I don't think that's a situation that is likely to exist.
We took delivery in November via OSD so our credit goes on our 2015 taxes is what I'm told.
 

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Hello, swedespeed! This is my first post here. I've started looking into the T8 recently and am looking to confirm the T8's eligibility amount for the Colorado alternative vehicle tax credit. Based on my reading of the instructions (page 6), I'm getting the following:

Line 1 - MSRP: $68,100
Line 2 - Federal credit $4,585
Line 3 - Other credits $0
Line 4 - Lines 2+3 $4,585
Line 5 - Line 1-4 $63,515
Line 6 - Battery capacity (kWh) 9.2
Line 7 - Line 6 / 100 0.092
Line 8 - Line 5*7 $5,843.38
Line 9 - Factor 1.00
Line 10 - Line 8*9 $5,843.38
Line 11 - Max credit $6,000
Line 12 - Eligible credit $5,843.38

Based on this, I believe the T8 is eligible for the $4,585 federal tax credit plus $5,843.38 via the Colorado tax credit. Does anyone see fault with my math/assumptions?

If this is correct, that $10,428.38 (plus fuel savings) offsets a hefty part of the $18,300 price premium of the T8 over the T6 for Colorado buyers.
 

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Hello, swedespeed! This is my first post here. I've started looking into the T8 recently and am looking to confirm the T8's eligibility amount for the Colorado alternative vehicle tax credit. Based on my reading of the instructions (page 6), I'm getting the following:

Line 1 - MSRP: $68,100
Line 2 - Federal credit $4,585
Line 3 - Other credits $0
Line 4 - Lines 2+3 $4,585
Line 5 - Line 1-4 $63,515
Line 6 - Battery capacity (kWh) 9.2
Line 7 - Line 6 / 100 0.092
Line 8 - Line 5*7 $5,843.38
Line 9 - Factor 1.00
Line 10 - Line 8*9 $5,843.38
Line 11 - Max credit $6,000
Line 12 - Eligible credit $5,843.38

Based on this, I believe the T8 is eligible for the $4,585 federal tax credit plus $5,843.38 via the Colorado tax credit. Does anyone see fault with my math/assumptions?

If this is correct, that $10,428.38 (plus fuel savings) offsets a hefty part of the $18,300 price premium of the T8 over the T6 for Colorado buyers.
Great work. I've been thinking about trying to work out the Colorado tax credit myself, but I've been severely dreading the idea. It looks like you worked very hard, so I'll take your word for it. Is there an income level where the tax credit is taken away in Colorado, like California?
 

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Hello, swedespeed! This is my first post here. I've started looking into the T8 recently and am looking to confirm the T8's eligibility amount for the Colorado alternative vehicle tax credit. Based on my reading of the instructions (page 6), I'm getting the following:

Line 1 - MSRP: $68,100
Line 2 - Federal credit $4,585
Line 3 - Other credits $0
Line 4 - Lines 2+3 $4,585
Line 5 - Line 1-4 $63,515
Line 6 - Battery capacity (kWh) 9.2
Line 7 - Line 6 / 100 0.092
Line 8 - Line 5*7 $5,843.38
Line 9 - Factor 1.00
Line 10 - Line 8*9 $5,843.38
Line 11 - Max credit $6,000
Line 12 - Eligible credit $5,843.38

Based on this, I believe the T8 is eligible for the $4,585 federal tax credit plus $5,843.38 via the Colorado tax credit. Does anyone see fault with my math/assumptions?

If this is correct, that $10,428.38 (plus fuel savings) offsets a hefty part of the $18,300 price premium of the T8 over the T6 for Colorado buyers.
@Zaxxon Thanks for looking all of this up, I was trying to figure out the CO tax credit and if I qualify as a CO resident but not registering the vehicle in CO.

Limitation on multiple credits for a single vehicle
In general, no more than one tax credit shall be allowed for any single motor vehicle. Consequently, the purchase of
a used vehicle generally will not qualify for a credit because the prior vehicle owner likely claimed a credit for the
original purchase of the vehicle. However, the purchase of a used vehicle may qualify if the vehicle was not
previously registered in Colorado. Any credit claimed for the purchase of a used vehicle must be accompanied by a
"Vehicle History Report" showing the vehicle was not previously registered in Colorado. A “Vehicle History Report”
can be obtained from any of a number of third party companies that offer such reports. An internet search for the
phrase "Vehicle History Report" should provide a listing of companies that can produce this report.
It appears as I'd qualify for the tax credit once I registered the vehicle in CO, I guess technically it would be a used vehicle at that point, it just hadn't been registered in CO (or the US for that matter) before which would qualify the vehicle for the credit?
 

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The Colorado additional tax credit would have swayed me to jump to a T8. With no state tax credit, the difference was too great.
 
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