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In the US, the federal tax credit is a "credit" rather than a refund. That means that if you don't pay enough federal taxes in that year, you won't be saving th
by vinay427 8y ago
In the US, the federal tax credit is a "credit" rather than a refund. That means that if you don't pay enough federal taxes in that year, you won't be saving the listed amount. Many state rebates don't work like this, but in some sense it is still misleading for Tesla and other electric vehicle manufacturers to not make this clear.
- skinnymuch 8y agoDo those credits not carry over to the next year?
- coredog64 8y agoHow many people can afford a Tesla while not having $7k of federal tax liability?
- Scoundreller 8y agoThe same way “students” and “homemakers” sometimes buy multimillion dollar properties: offshore money (laundering).