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08-13-2009, 09:13 AM
Does a golf cart qualify for a Tax Credit?
The following was copied from the IRS web site---


Plug-in Electric Drive Vehicle Credit (Section 1141): The new law modifies the credit for qualified plug-in electric drive vehicles purchased after Dec. 31, 2009. To qualify, vehicles must be newly purchased, have four or more wheels, have a gross vehicle weight rating of less than 14,000 pounds, and draw propulsion using a battery with at least four kilowatt hours that can be recharged from an external source of electricity. The minimum amount of the credit for qualified plug-in electric drive vehicles is $2,500 and the credit tops out at $7,500, depending on the battery capacity. The full amount of the credit will be reduced with respect to a manufacturer's vehicles after the manufacturer has sold at least 200,000 vehicles.

Plug-In Electric Vehicle Credit (Section 1142): The new law also creates a special tax credit for two types of plug-in vehicles certain low-speed electric vehicles and two- or three-wheeled vehicles. The amount of the credit is 10 percent of the cost of the vehicle, up to a maximum credit of $2,500 for purchases made after Feb. 17, 2009, and before Jan. 1, 2012. To qualify, a vehicle must be either a low speed vehicle propelled by an electric motor that draws electricity from a battery with a capacity of 4 kilowatt hours or more or be a two- or three-wheeled vehicle propelled by an electric motor that draws electricity from a battery with the capacity of 2.5 kilowatt hours. A taxpayer may not claim this credit if the plug-in electric drive vehicle credit is allowable.

08-13-2009, 05:50 PM
good question, more for the street legal carts I'd guess, since they require registration and insurance like a vehicle and are considered LSVs.

A tax accountant should be able to answer correctly.

08-25-2009, 05:12 PM
Star, Tomberlin, and Fairplay all claim to have a tax credit on an LSV. I have not been able to confirm any of them. Has anybody heard any differently. I understand the Yamaha gas is the best car out there but I like electric better because of the noise.

kar guy
08-26-2009, 07:29 PM
There are requirements by the govt. that qualify for the tax credit. You must know what you are doing and how to do it to obtain this credit. I sell
Columbia Parcars and if you need any info or regulations please call me at 753-0244 and ask for Greg. I have been researching this since Feb. 17th and know quite a bit about it. Take care the kar guy