{"id":85713,"date":"2018-07-12T21:06:20","date_gmt":"2018-07-12T21:06:20","guid":{"rendered":"https:\/\/www.bnreport.com\/tesla-hits-200000-us-sales-tax-credit-phase-out-to-commence-roadshow\/"},"modified":"2018-07-12T21:06:20","modified_gmt":"2018-07-12T21:06:20","slug":"tesla-hits-200000-us-sales-tax-credit-phase-out-to-commence-roadshow","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/tesla-hits-200000-us-sales-tax-credit-phase-out-to-commence-roadshow\/","title":{"rendered":"Tesla hits 200,000 US sales, tax credit phase-out to commence \u2013 Roadshow"},"content":{"rendered":"
\n

Farewell, tax credit, we barely knew ye.<\/p>\n

Tim Stevens\/Roadshow <\/p>\n<\/figcaption><\/figure>\n

It finally happened. After bringing up Model 3<\/a> production to Elon Musk's<\/a> self-imposed quota, Tesla<\/a> has hit the point where its vehicle sales are high enough to begin the EV tax credit phase-out.<\/p>\n

Tesla told Reuters<\/a> on Thursday that it has officially delivered 200,000 electric cars<\/a> in the US, which means its electric-vehicle tax credit will begin to phase out. It will carry on at $7,500 for a little while, after which it will be reduced by 50 percent every six months, finally coming to an end a year after the phase-out begins.<\/p>\n

Tesla has a page on its website<\/a> that explains the phase-out in greater detail. Owners will be able to claim the full $7,500 federal tax credit for vehicles delivered through Dec. 31, 2018. From Jan. 1, 2019 until June 30, the credit will be reduced to $3,750. Then, from July 1 to Dec. 31, it will be reduced again to $1,875. Vehicles delivered in 2020 and beyond will not be eligible. There are still state-level incentives available, however, which Tesla has also laid out on its site.<\/p>\n

But there's no guarantee that buyers will be able to take full advantage of that credit in the first place. This isn't a line item deduction on the car's price tag \u2014 rather, it's a dollar-for-dollar reduction of your annual tax liability, which means if you didn't pay $7,500 in federal taxes, you won't be able to claim that full amount.<\/p>\n

Tesla last estimated that the much-awaited $35,000 short-range-battery variant of its Model 3<\/a> will be available in about six months' time, which means few if any buyers of that vehicle will be eligible for the full tax credit. That's kind of a bummer, but odds are those people wouldn't be able to use it all anyway.<\/p>\n

<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Farewell, tax credit, we barely knew ye.<\/p>\n

Tim Stevens\/Roadshow <\/p>\n

It finally happened. After bringin..<\/p>\n","protected":false},"author":1,"featured_media":85714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":["post-85713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science"],"yoast_head":"\nTesla hits 200,000 US sales, tax credit phase-out to commence \u2013 Roadshow - Business News Report<\/title>\n<meta name=\"description\" content=\"Farewell, tax credit, we barely knew ye. Tim Stevens\/Roadshow It finally happened. 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