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I saw that earlier last week, and got really excited, but then I realized it was 2021, not going to get mine till 2022, fingers crossed it’s still there next year when the idiots get done playing tax gods.Rivian has made the list of approved vehicles:
https://www.irs.gov/businesses/irc-30d-new-qualified-plug-in-electric-drive-motor-vehicle-credit
Noticed that Lucid is not on the list yet....
Well, they are not "playing" it, they ARE the Tax Gods.
Unfortunately, if they pass anything like the proposal currently under consideration we won't know how much - if any - the R1T/S will qualify for until after the IRS generates rules to implement what they interpret to be the intent of the passed code.
Quietly as a business owner and a tax professional, the EIDL and PPL were more helpful than this tax credit anyway. But it still would be nice. So I really can’t complain, there were a ton of opportunities for a lot of folks this year for obvious reasons of course.
Economic injury disaster loan advances, and the paycheck protection loans, they were a Business benefits for those that did not get the stimulus and were adversely affected by Covid 19, it put money back in the bank for lost business and in most cases did not have to be paid back. Better than tax credit. Don’t even get me started on the ERC credits one can triple dip as well, it was raining money from the irs this year.
That probably lines up nicely with when they will start delivering non-LE preorders. All part of the plan. ?
If it stays as written, the answer is no. It's currently $4,500 if made in the US AND by Union labor. They are tied together right now. Also another $500 if the batteries were made in the US. I think Rivian, for now, is using Samsung batteries made in Korea. I believe there's been discussion of Samsung opening a plant in the US, but I don't think that's online yet.
