is reporting from
Member
NP Rank:
NP Rank:
Free Golf Carts this holiday just about for everyone (Tiger Woods excepted). The Free Golf Carts come courtesy of an IRS Tax loophole or credit. The IRS loophole seems to allow many Golf Carts to qualify for an "electric card credit."
Federal credits provides up to $5,500 for the purchase of an electric vehicle. Combine that credit with various incentives at the State level and you could just about have a Golf Cart for Free.
Golf cart sales have skyrocketed after an IRS ruling that golf carts do qualify for the electric-car credit as long as they are also road worthy. These qualifying golf carts are the same as normal golf carts except they have some safety features, such as side mirrors and harness-type seat belts. They travel at an average speed of 15 to 25 miles per hour.
Sudha Krishna
Vancouver, Canada
Most RecentMost Recommended Comments (1)
at 10:41 on December 11th, 2009
Hello, I am the IRS spokesperson in the San Francisco Bay Area. I wanted to caution individuals considering the purchase of a low-speed vehicle to carefully consider the official guidance issued by the IRS regarding the tax credits discussed in this article. Vehicles manufactured primarily for use on a golf course, do not qualify for these credits. Certain low-speed vehicles, sometimes called neighborhood electric vehicles, can qualify for either the Plug-in Electric Drive Motor Vehicle Credit, or if purchased after February 17, 2009, the Plug-In Electric Vehicle Credit. However, low speed vehicles have to meet several qualifications to be certified for a tax credit. Two key qualifications are that vehicles must be manufactured primarily for use on public streets, and that vehicles manufactured primarily for off-road use, such as for use on a golf course, do not qualify for either credit. A list of certified vehicles is on the IRS.gov Web site at www.irs.gov/businesses/article/0,,id=214841,00.html . The IRS also has lots of good information about energy incentives and many other tax breaks in the American Recovery and Reinvestment Act at www.IRS.gov/Recovery. Best regards.