Driving Green
Friday, October 16, 2009
Taxpayers have fewer than three months to take advantage of an income-tax credit that can offset a hefty share of the cost of a street-legal low-speed electric vehicle. Depending upon the type of qualified vehicle purchased, credits can range from $2,500 up to $15,000.
And in Kansas, the low-speed vehicles can double as a golf cart, too.
A federal stimulus program to boost use of electric vehicles provides money in the form of tax credits to people who purchase new, qualified, plug-in electric-drive motor vehicles.
The tax credit base is $2,500, with additional credits given based on kilowatt hour capacity of the batteries and gross vehicle weight ratings. Maximum tax credits range from $7,500 to $15,000, depending upon the circumstances.
To qualify for the credits, manufacturers’ certificates are required to be filed with income tax forms to verify that the vehicles purchased meet the requirements set by the federal government.
The credits are intended to promote using electricity to fuel vehicles. The LSVs described in government materials are not intended to be used on the nation’s highways, but are to encourage drivers to use the small, lighter-weight vehicles for slower, in-town driving.
“It’s just part of one of those things they put in there to try to get people to use electric vehicles and such,” said Jon Pool, certified public accountant and co-owner of Pool and Wright. “They really will do what they’re advertised to do in some of the retirement communities, because people will be using them.”
Pool said that purchase and delivery of a qualified LSV must be made by Dec. 31. The tax credits come when federal income tax documents are filed. The credits are advantageous because they are similar to rebates, whereas tax deductions return only a percentage of the amount allowed.
“A credit comes straight off the taxes you owe, where deductions come off your income” before taxes are computed, Pool explained.
He recommended that potential buyers check with their tax preparers before committing to purchase.
“They need to talk to their tax person and see if it works for them,” Pool said.
Local buyers already are taking advantage of the potential savings.
Penny Hickman, golf pro at the Emporia Country Club, said that she had sold 15 street-legal LSVs eligible for the stimulus funds since the vehicles became available this summer.
“Some people think it’s a silly program, but there are a lot of these stimulus programs that are a little odd, so people are taking advantage of it,” Hickman said. “This way they’re able to drive legally to the golf course, and one guy takes his to coffee in the morning.”
The LSVs that Hickman has sold all have come through Jeremy Cooper of Swartz’s Cart Shed, which is in the process of moving from Strong City to 10 Commercial St. in Emporia.
The little cars sold through Swartz are made by Fairplay, a company that introduced its LSV on July 31, after the tax credit was created earlier this year.
“This isn’t a golf cart,” Cooper said. “This is a car as far as the government’s concerned.”
The LSVs are regulated and must meet equipment requirements that are similar to traditional vehicles.
“They have headlights, taillights, turn signals, brake lights, seat belts, hydraulic disc brakes. ...” Cooper said. “They have a lot more safety features to them, and they are twice as fast as a standard golf cart.”
The LSV must be able to maintain 20 to 25 miles per hour speeds on level pavement, with a 170 kilogram load capacity, and must have a 17-digit Vehicle Identification Number and have tires approved by the Department of Transportation, among other requirements.
“You couldn’t drive it on the Interstate to get there, but you can take it anywhere and drive it on the street,” Cooper said.
The vehicles qualify for two types of credit — American Recovery and Reinvestment Act (ARRA) and Emergency Economic Stimulus Act of 2008 (EESA).
Only one type of credit can be used per purchase, and traditional golf carts that have been modified are not eligible, he said.
The EESA credit, which is larger than the ARRA, requires certification and expires on Dec. 31; the ARRA lasts until 2012, Cooper said, and the LSVs will continue to be available.
The company that makes the Fairplay LSV estimates that up to $4,234.34 in tax credits could be available from the purchase of one LSV, priced at $6,695, and potential buyers need to talk with their tax preparers first to confirm the credit eligibility.
Sales of LSVs in this area have been brisk during the short time they have been avaialble.
“We started selling them Aug. 1,” Cooper said. “We sold about 60 of them so far.”
Lower-priced models of the LSV currently have a two-week backorder time, and the wait for the higher-end vehicles is about six weeks, he said. The cars are made in Colorado.
“I wish I could have gotten these people to build them here,” Cooper said.
reddog (K. B. Thomas Jr.) says...
Google Alex Jones Green Shoots.
October 16, 2009 at 1:37 p.m. ( permalink | suggest removal )
seriouslyfolks (anonymous) says...
If this program had been in place a couple of years ago everybody would be screaming about the government buying new golf carts for the rich. Oh how times have changed.
R.
October 16, 2009 at 1:48 p.m. ( permalink | suggest removal )
reddog (K. B. Thomas Jr.) says...
Glen Beck exposes color of change co-founder Van Jones on youtube.
October 16, 2009 at 1:51 p.m. ( permalink | suggest removal )
justaflushaway (anonymous) says...
What a damn joke,
October 16, 2009 at 7:15 p.m. ( permalink | suggest removal )
reddog (K. B. Thomas Jr.) says...
Fox news protrays Van Jones as 9/11 truther.
October 16, 2009 at 10:14 p.m. ( permalink | suggest removal )
reddog (K. B. Thomas Jr.) says...
utube-Van Jones-communist.
October 16, 2009 at 10:19 p.m. ( permalink | suggest removal )
create (anonymous) says...
Do whatever you have to do, just don't get behind one of these contraptions on the street like I did recently. You're stuck behind the dang thing while people are whizzing around you and you're waiting, waiting, waiting for an opportunity to pass. These things are traffic hazards!
October 17, 2009 at 7:53 a.m. ( permalink | suggest removal )
seriouslyfolks (anonymous) says...
Posted by seriouslyfolks (anonymous) on October 16, 2009 at 1:48 p.m. (Suggest removal)
If this program had been in place a couple of years ago everybody would be screaming about the government buying new golf carts for the rich. Oh how times have changed.
R.
October 17, 2009 at 9:55 a.m. ( permalink | suggest removal )
reddog (K. B. Thomas Jr.) says...
Oct. 17 Wall Street Journal 12 Cash for Clubbers. "The Golf Cart Man" is running online an add that declares: "Get A FREE GOLF CART or make $2,000 doing absolutely nothing. Golf Cart Man is talking about his offer in which you can buy the cart for $8,000, get a $5,000 tax credit on your 2009 income tax, lease it back for $100 per month for 27 months, at which time Golf Cart Man will buy the cart for $2,000. My goodness, this means you own a free golf cart or make $2,000 for doing nothing. This is what you call getting the horse before the cart. Let's be positive, like the little boy in the manure barn, who said, "with all this manure there has to be a pony some place."
October 17, 2009 at 1:43 p.m. ( permalink | suggest removal )
seriouslyfolks (anonymous) says...
Where is all the outrage about the government buying golf carts for the rich? I know more than a few posters on here that would have been outraged by this if it had happened a few years ago. Where ya at? Huh?
R.
October 17, 2009 at 5:35 p.m. ( permalink | suggest removal )
reddog (K. B. Thomas Jr.) says...
Seriouslyfolks, if you want to find the rage, go to Freedom TV.com.
October 18, 2009 at 12:13 a.m. ( permalink | suggest removal )
reddog (K. B. Thomas Jr.) says...
If you want more rage, go to utube The reality report with Gary Franchi.
October 18, 2009 at 12:34 a.m. ( permalink | suggest removal )
Steve_Corbin (anonymous) says...
Seriously,
I'm all for this. Those "golf carts" look a lot easier to not see.
"Honest officer, I didn't see that rich guy driving that cart when I ran over him.
BUMPER CARS?
October 18, 2009 at 8:16 a.m. ( permalink | suggest removal )
create (anonymous) says...
Next we'll have vehicles that attach to electric lines running above all thoroughfares. If you want to go to Dillon's, you have to go on that line. From Dillon's to Walmart, another line. There will be Bank of America lines, and Reeble's lines, and Emporia State Bank lines, and Town Crier lines etc. etc. ad infinitum. It will be like going back to trolleys. See what these little golf cart thingies have done to us? Get rid of them now! Hmmmm, how do they work on ice?
October 18, 2009 at 8:26 a.m. ( permalink | suggest removal )