Untitled Document
Columbia has received the official IRS notification letter that acknowledges and confirms that certain model years of Columbia's Low Speed Vehicles are eligible for the Qualified Plug-In Electric Vehicle Credit for purchaser's who are may be entitled to take the credit. |
*Based on MSRP of $8899 less application of $5475 tax credit. Does not include sales tax, license, shipping fees. |
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Download a copy of our IRS Certification Letter |
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Plug-In Hybrid Electric Vehicle Tax Credit
Frequently Asked Questions (EESA Credit)
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| Which models qualify for the tax credit? |
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What is the amount of the tax credit? |
For low-speed vehicles (LSV's) purchased in 2009, the amount of the credit is
$2,500, plus $417 for each full kilowatt hour of battery
capacity in excess of 4 kilowatt hours. So, battery capacity is the determining factor of the credit. The table below illustrates the amount of the credit available for each pack.
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| Battery pack installed in qualifying models* |
Amount of Eligible Credit |
Standard Capacity Batteries
(US 2200, 48-Volt Pack) |
$5,475.71 |
High Capacity Batteries
(US 145, 48-Volt Pack) |
$5,856.02 |
AGM Batteries
(Discover or Deka AGM, 48-Volt Pack) |
$4,574.99 |
| *Note: Not all battery pack options are available in every Columbia vehicle - consult your local dealer |
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Do used vehicles qualify for the credit? |
| No. |
Do leased vehicles qualify for the credit? |
| Yes, leased vehicles qualify in addition to purchased vehicles. |
Is the tax credit refundable if it exceeds the purchaser's Federal tax liability? |
| No. However, in the case of vehicles purchased for business use, it may be possible to carry forward (or back) the portion of the credit in excess of the current year Federal tax liability. (Consult your tax advisor for more information) |
Is the tax credit available if the purchaser is a non-profit organization or a government agency? |
| In certain cases the credit may be available to the dealer that sold or leased the vehicle to the organization or agency, provided the dealer discloses in writing to the organization or agency the amount of the credit that is available for the vehicle. (Consult your tax advisor for more information) |
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| Please note you should consult your tax advisor for advice on how the tax credit may benefit you. Some tax payers will not realize the maximum tax benefit. |
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Tax Credits Now Available for Taxpayers Who Purchase
Qualified Plug-In Electric Vehicles |
Earlier this year, the IRS announced tax credits that could benefit taxpayers who purchase Columbia's Low Speed Vehicles. According to the IRS, taxpayers may qualify for one of the following credits:
The ARRA Credit. A credit equal to 10% of the cost of the vehicle, up to $2,500 for a Low Speed Vehicle purchased after February 17, 2009 and before January 1, 2012. Or,
The EESA Credit. A credit of $2,500 to $7,500 for a four wheeled vehicle that draws propulsion using a rechargeable battery with at least four kilowatt hours of capacity purchased during 2009. The actual credit, within the above limitations, is determined by the capacity of the battery.
The following information may be used to understand how each of the tax credits may apply to purchases of Columbia Low Speed Vehicles:
All Low Speed Vehicle models (also referred to as NEV's or Neighborhood Electric Vehicles) manufactured and sold by Columbia meet the NHTSA requirements as defined by Title 49 CFR, Chapter V, Part 571.500, Standard No. 500; Low-speed vehicles.
The referenced NHTSA classification applies to this category of Motor Vehicles used by consumers and commerce.
All Columbia Low Speed Vehicle models (also referred to as NEV's or Neighborhood Electric Vehicles) are manufactured primarily for use on public streets, roads and highways.
The primary source of energy for all of Columbia's Low Speed Vehicles is the electric power grid. Batteries are recharged by "plugging in" to the grid. By definition, this makes each of Columbia's models a "Plug-In Electric Vehicle."
All of Columbia's Low Speed Vehicles are propelled by a rechargeable battery with a capacity of at least 4 kilowatt hours.
For information about purchasing a Columbia Low Speed Vehicle, call Columbia at 1-800-222-4653 or locate your local dealer.
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In this and any tax matter, taxpayers should consult their tax advisor to determine qualification for any tax credit and to clarify the benefit that may be available given their individual circumstances.
A portion of the IRS release is shown below.
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Tax Breaks Available for Taxpayers Who Purchase
Qualified Plug-In Electric Vehicles |
IR-2009-45, April 24, 2009
WASHINGTON - Plug-in electric vehicles using certain types of batteries may qualify for a new tax credit if purchased this year, the Internal Revenue Service said today.
The Emergency Economic Stabilization Act of 2008 (EESA) and the American Recovery and Reinvestment Act of 2009 (ARRA) created two new tax credits for various types of electric vehicles, which may include what are commonly referred to as neighborhood electric vehicles.
ARRA creates a tax credit for low-speed or two- or three-wheel electric vehicles, such as motor scooters, purchased after Feb. 17, 2009, and before Jan. 1, 2012. The amount of the credit is 10 percent of the cost of the vehicle, up to a maximum credit of $2,500. To qualify, a vehicle must be either a low-speed vehicle that is propelled to a significant extent by a rechargeable battery with a capacity of at least 4 kilowatt hours or be a two- or three-wheeled vehicle that is propelled to a significant extent by a rechargeable battery with a capacity of at least 2.5 kilowatt hours.
EESA created a tax credit for vehicles that have at least four wheels and draw propulsion using a rechargeable traction battery with at least four kilowatt hours of capacity. For 2009, the minimum credit is $2,500 and the credit tops out at $7,500 to $15,000, depending on the weight of the vehicle and the capacity of the battery.
During 2009, low-speed, four-wheeled vehicles manufactured primarily for use on public streets, roads and highways (neighborhood electric vehicles) may qualify both for the EESA credit and, if purchased after February 17, 2009, for the ARRA credit for low-speed electric vehicles. A taxpayer may not claim both credits for the same vehicle. Vehicles manufactured primarily for off-road use, such as for use on a golf course, do not qualify for either credit. |
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The above release was found at: http://www.irs.gov/newsroom/article/0,,id=207051,00.html
Consult your tax advisor for any and all tax advice before making any purchases. |
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Tax Breaks Available for Oklahoma State Residents |
Columbia's LSV models also qualify for additional tax breaks in the state of Oklahoma.
Visit: http://www.tax.ok.gov/upmin100809.html to view our certification letters for the following Models:
MEGA (All LSV/NEV Models)
SMT2-TN
SMT4-TN
SUV-SN
SUV-LN
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