How did I not hear about this?

htownbdr · Posted: Nov 10, 2009 6:39 pm Post subject: How did I not hear about this?

There is a tax CREDIT for golf carts? Really? Finally, something dumby wumby did that actually helps me rather than hurts me. I don't even need a golf cart but probably going to go buy one just because. Apparantly, if it is street legal and a 2009 model, you get a huge credit that almost covers the cost of the cart. Which practically makes it free.

Has anyone done this?

http://online.wsj.com/article/SB10001424052748704107204574473724099542430.html

TnR6Rida · Posted: Nov 10, 2009 6:52 pm Post subject:

So where can I go do this in TN.

htownbdr · Posted: Nov 10, 2009 6:59 pm Post subject:

Google "golf cart tax credit tn" I just googled it for houston and there are only a few makers that qualify. One is bad boy buggies. they have a 2wd version for 7200 with a 5500 tax credit. I am going to make some calls tomorrow and, hopefully, have a cart by the weekend. My opinion of the new president might have changed a bit. As long as we are going down in flames and I am paying for all sorts of crap I don't get to use, I might as well have a golf cart to go with it. Smile

brew · Posted: Nov 10, 2009 7:06 pm Post subject:

Technically it's a tax credit for electric vehicles. Golf carts that have had some modifications made including mirrors and safety belts will qualify for the credit. Also, there is no limit to the number of credits taken, so you can stockpile them if you're felling enterprising.

RampageWake · Posted: Nov 10, 2009 8:45 pm Post subject:

Is this credit subject to AMT or any other kind of income cap/phase-out?

ky1e · Wakeboarder.com Freak Joined: 31 Mar 2008 Posts: 2693

Bush did this with planes when he was the dictator. My buddy got an eclipse jet for a little over a million, not sure the exact number but after the tax credit I think it came out to costing about $50k. How do these tax credits work? Like, how is it decided that a specific item will get these crazy credits? Jets are obviously a big industry so I could see some senator fighting for it, but golf carts???? Some senator must have bought a golf course or something Laughing

Chattwake · Posted: Nov 11, 2009 4:53 am Post subject:

Ok, I'm investigating into this. If it works, I'll have another golf cart soon.

brew · Posted: Nov 11, 2009 6:25 am Post subject:

This is a legitimate credit. You are limited in the cart you can be as they have to meet NEV standards, but EZ Go, Club Car, Tomberlin, etc. all make variations that qualify. The manufacturer certifies that it meets the standards and they provide you with amount of the credit you qualify for. These aren't everyday golf carts though. The cheapest I have seen are around $7,000 up to well over $10,000. The credit was originally set up for electric vehicles and neighborhood vehicles, and cart manufacturers have managed to make changes to their carts to make them qualify. The credit ranges generally from about $4,200 to $5,200 of the purchase price.

Check out the Tomberlin Anvil. This is what you need to buy assuming you can find one.

http://www.tomberlin.net/#/electric-vehicles/tomberlin-anvil-electric-car-0

I don't believe there is an AGI phase out as this is directed towards more affluent people who live in encolsed communities where you can drvie these small electric vehicles anywhere you need to go.

Here is the IRS Notice on it if you're interested. It starts on page 16 of the PDF.

http://www.irs.gov/pub/irs-irbs/irb09-26.pdf

brew · Posted: Nov 11, 2009 6:28 am Post subject:

Oh yeah, good luck finding one right now. Club Car is supposed to have 8 to a local dealer here before year end, but that's all they are getting. Most of the Tomberlin dealers are sold out or have very limited stock. I can give anyone some more information on where I've found some, because I've been looking for a while now if anyone wants it.

brew · Posted: Nov 11, 2009 6:34 am Post subject:

If you'refeeling in touch with your feminine side, you could always go with this one.

http://www.tomberlin.net/#/electric-vehicles/lilly-e-merge

churchy · Posted: Nov 11, 2009 7:20 am Post subject:

I am pretty sure I posted this in the golf cart thread that was going on.

TnR6Rida · Posted: Nov 11, 2009 8:08 am Post subject:

brew, Any place I can do this around us?

Commodore · Ladies Man Joined: 20 Jun 2005 Posts: 11636

Ironically, I have no use for a GC.

htownbdr · Posted: Nov 11, 2009 8:15 am Post subject:

htownbdr · Posted: Nov 11, 2009 8:46 am Post subject:

Crap!!! There may be a phase out problem. checking into that now. Anybody know about this?

htownbdr · Posted: Nov 11, 2009 9:32 am Post subject:

OK, no phase out. Just a phase out on being able to write the sales tax of the cart off.

brew · Posted: Nov 11, 2009 9:38 am Post subject:

If you're talking about income phaseouts, I haven't seen anything on an income phaseout. They allow the credit to reduce AMT which tells me that I don't believe it to have an income limitation. Saying that I've done some searching and haven not found anything definitive.

There is a phaseout for sales levels, but it's a quarterly deal so the next adjustment will take place at January 1, 2010. If you take possession before then you are allowed the current full credit.

htownbdr · Posted: Nov 11, 2009 10:55 am Post subject:

Yeah, thats what I learned. There is another part that allows you to deduct the sales tax of the cart. That part has a phase out. I was thinking that applied toward the credit to. But, it doesn't. So, all is well. Now I just need to get with 02 and figure out what I need to do to this thing.

brew · Posted: Nov 11, 2009 11:21 am Post subject:

You two keep me in the loop on what you do to them. I'm trying to decide between the Tomberlin EMerge E2LE or the Club Car Villager LSV. I'm leaning towards the Club Car, because there are a few more local dealers.

TnR6Rida · Posted: Nov 11, 2009 11:44 am Post subject:

brew, Where are the dealers around here, and whats the cheapest cart they have that elligible for this?

brew · Posted: Nov 11, 2009 12:25 pm Post subject:

htownbdr · Posted: Nov 11, 2009 1:36 pm Post subject:

Here is the one I bought. didn't feel like shelling out the extra money for the Club Car.

http://www.evelsv.com/LSV/electric/eve_delux.html

brew · Posted: Nov 11, 2009 2:26 pm Post subject:

Do either one of you know if you can buy similar upgrades on the aftermarket for the EVE like you can the Club Car? I'm still not sure what I want to go with. We've been looking at buying a condo on the coast and I'm thinking that one of the 6 seat Club Cars or Tomberlins may be the way to go. I'm pretty hung up on the Anvil, but I think my wife would kill me if I brought it home.

htownbdr · Posted: Nov 11, 2009 2:33 pm Post subject:

I asked the dealer, who does customization, and he says after I get it inspected, he can do whatever I want to it. My plan is to put a cargo bed on the back, jack it up, give it a little more power and put tires and wheels on it.

Blue22V · Soul Rider Joined: 19 Mar 2004 Posts: 290 City: Double Oak

I currently have a Club Car 4 seat, that I bought a few years ago used, and converted it to a LEV. It is able to be registered, and after a motor and controller change runs about 25 mph.

With the new rebate, I'm thinking of selling it and buying one of these before the offer expires - http://www.californiaroadster.com/

eich82 · Addict Joined: 13 Jan 2003 Posts: 860 City: MTP

What if I were to buy one of these for say 7 grand, take the 5 grand credit then sell it a year from now for 4 grand? Is there a time limitation on this where you have to forfeit the credit if you sell to soon?

STPHNSN23 · Guest

eich82, no. from what i read, you could buy 20 of them and get the credit for each one. then go rent them to a golf course or sell them and realize the profit with no problems.

buckthis · Posted: Nov 13, 2009 6:04 pm Post subject:

''this is directed towards more affluent people who live in encolsed communities"
i'm not rich and don't live in an enclosed community but have some property on kelley's island in ohio and where i live, which is in vermilion, ohio, you can drive anywhere in the cities 25 mph speed zone with a golf cart, so yes i would buy one!

brew · Posted: Dec 30, 2009 12:33 pm Post subject:

Thought some of you may be interested in this.

https://www.freeelectriccar.com/shopdisplaycategories.asp?id=1&cat=Electric+Cars

This place has cut their prices to be in line with the tax cut. You basically just have to pay shipping and sales tax.