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Tax Credit

S

SVB

Full Member
Joined
Jun 11, 2003
Messages
12
Does the 2007 Avalanche qualify for any type of alternative fuel tax credit? Please help, can not find for sure answer any where.
 
Alternative Motor Vehicle Credit
Section 1341 of the Energy Policy Act of 2005 provides a tax credit to buyers of new alternative fuel vehicles placed in service as an alternative fuel vehicle after January 1, 2006. The legislation provides for a tax credit equal to 50% of the incremental cost of the vehicle, plus an additional 30% of the incremental cost for vehicles with near-zero emissions (SULEV or Bin 2 for vehicles <14,001 lb GVWR). The IRS has issued two notices to establish rules for manufacturers and qualified vehicle buyers to claim the credit. The Current Tax Credits table has information on certified vehicles and available credits.

Georgia Incentives and Laws
Alternative Fuel Vehicle (AFV) Tax Credit
Georgia offers a tax credit towards the purchase, lease, or conversion of a vehicle that operates solely on an alternative fuel and has a minimum EPA Low Emission Vehicle (LEV) certification. The owners of vehicles that have their vehicles converted to operate on an Energy Policy Act (EPAct) defined alternative fuel and can meet the EPA certification of LEV or better may also receive the credit. The credit is worth up to 10% of the cost of a new AFV or up to 10% of the cost of converting the vehicle to operation on an alternative fuel, or $2,500, whichever is less. The credit cannot exceed the taxpayer's income tax liability, but any portion of the credit not used in the year the AFV is purchased or converted can be carried over for up to five additional years. This incentive does not apply to hybrid electric vehicles. (Reference Georgia Code 48-7-40.16)


Sorry that your state provides nothing Ambalanche.
 
The cost to convert to E85 is very little if any and has been posted on here before...

 
SVB said:
Alternative Motor Vehicle Credit
Section 1341 of the Energy Policy Act of 2005 provides a tax credit to buyers of new alternative fuel vehicles placed in service as an alternative fuel vehicle after January 1, 2006. The legislation provides for a tax credit equal to 50% of the incremental cost of the vehicle, plus an additional 30% of the incremental cost for vehicles with near-zero emissions (SULEV or Bin 2 for vehicles <14,001 lb GVWR). The IRS has issued two notices to establish rules for manufacturers and qualified vehicle buyers to claim the credit. The Current Tax Credits table has information on certified vehicles and available credits.

Georgia Incentives and Laws
Alternative Fuel Vehicle (AFV) Tax Credit
Georgia offers a tax credit towards the purchase, lease, or conversion of a vehicle that operates solely on an alternative fuel and has a minimum EPA Low Emission Vehicle (LEV) certification. The owners of vehicles that have their vehicles converted to operate on an Energy Policy Act (EPAct) defined alternative fuel and can meet the EPA certification of LEV or better may also receive the credit. The credit is worth up to 10% of the cost of a new AFV or up to 10% of the cost of converting the vehicle to operation on an alternative fuel, or $2,500, whichever is less. The credit cannot exceed the taxpayer's income tax liability, but any portion of the credit not used in the year the AFV is purchased or converted can be carried over for up to five additional years. This incentive does not apply to hybrid electric vehicles. (Reference Georgia Code 48-7-40.16)


Sorry that your state provides nothing Ambalanche.
Click to expand...

It seems to me that neither of these would apply to the 2007 Av no matter where you live.

The Alternative Motor Vehicle Credit provides a credit of "50% of the incremental cost of the vehicle", but a Flex-Fuel Av costs the same as a non-Flex Av, so there is no incremental cost.

The Georgia Alternative Fuel Vehicle (AFV) Tax Credit applies to "a vehicle that operates solely on an alternative fuel and has a minimum EPA Low Emission Vehicle (LEV) certification. "? I don't know if an Av on E85 meets the LEV certification requirement (I'd doubt it), nut since a Flex-Fuel Av will run happily on standard gasoline, it would fail the "operates solely on an alternative fuel" requirement, unless you could prove that you never, ever put standard gas in it.


 
yes :laugh:
but IRS makes it as difficult to get as possible
Go to IRS.GOV
Good Luck................

Remrber


lanche on!!!!!!!
 
I claimed about $270 on my 05.  Since some were Flex that year and some were not I was able to subtract the difference in base price between the engines.

Not a large amount like a hybrid.  I think it balanced out my winning year in the stock market.  Go Pepsi!
 
i could see an irs audit in your future....
 
Rongotti said:
I am going to write it off, no one will ever be wiser!!! :mo:
Click to expand...

Then buy me an 08 and write that one off too?!!  >:D
 
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