Lightning Retains Full $7500 Tax Credit For <$80k MSRP Buyers in 2023

[Zap]

That was known last August. The battery info is new. Mach-E gets 1/2, Lightning gets full.

Is Mach-E only half rebate because it isn't US made, but foreign produced? I know the purpose of the various rebate rules was to encourage American business. Or is it a battery component or assembly reason?

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[RickLightning]

Is Mach-E only half rebate because it isn't US made, but foreign produced? I know the purpose of the various rebate rules was to encourage American business. Or is it a battery component or assembly reason?

North America contains Mexico, where the Mach-E is made.

It's battery-related.

 

[TaxmanHog]

Tables updated.

https://www.fueleconomy.gov/feg/tax2023.shtml

IRS news release https://www.irs.gov/newsroom/remind...nd-battery-components-go-into-effect-april-18

 

[Pioneer74]

Is Mach-E only half rebate because it isn't US made, but foreign produced? I know the purpose of the various rebate rules was to encourage American business. Or is it a battery component or assembly reason?

Mach-E battery is made in Poland.

 

[RST]

So I'm one of the very, very lucky ones. Took delivery of my PRO on 4/21 and still qualify for the full $7500 tax credit.
Being retired, the only way I'll benefit from this is to convert Traditional IRA holdings, to my Roth IRA.

 

[TaxmanHog]

So I'm one of the very, very lucky ones. Took delivery of my PRO on 4/21 and still qualify for the full $7500 tax credit.
Being retired, the only way I'll benefit from this is to convert Traditional IRA holdings, to my Roth IRA.

Do it!!

 

[Grumpy2]

This is a good time to make that conversion, especially if Uncle Sam is paying the taxes.

 

[PNWskier]

If I purchase an untitled 2022 ER dealer demo that has a MSRP under $80k, can anyone confirm that it still qualifies for the full credit? I want to make sure it's the sticker/reported MSRP for the truck that matters, not whatever the current year MSRP is, since obviously 2023 is over that limit.

 

[TaxmanHog]

If I purchase an untitled 2022 ER dealer demo that has a MSRP under $80k, can anyone confirm that it still qualifies for the full credit? I want to make sure it's the sticker/reported MSRP for the truck that matters, not whatever the current year MSRP is, since obviously 2023 is over that limit.

If your trucks sticker looks like my 2022 Lariat-ER with only Max Tow as an option, then you are good, note the line highlighted in pink, also remember this was from an order placed in February 2022 when pricing was at its lowest for MY22

 

[doolin64]

Question...I've had my Lighting on order and had a 22 order get bumped to 23. Ford is honoring the pricing...my original pricing keeps me under $80k. The updated pricing and sticker I don't have to is over $80k. Does that mean I'm not eligible for the $7500 credit?

 

[RickLightning]

Question...I've had my Lighting on order and had a 22 order get bumped to 23. Ford is honoring the pricing...my original pricing keeps me under $80k. The updated pricing and sticker I don't have to is over $80k. Does that mean I'm not eligible for the $7500 credit?

If you buy a 2023 with MSRP less destination over $80,000, then you will not qualify for the tax credit. What you pay is not relevant.

 

[doolin64]

If you buy a 2023 with MSRP less destination over $80,000, then you will not qualify for the tax credit. What you pay is not relevant.

That s#$ks. I wish Ford would roll back the window sticker to the honored price. I had specifically configured the stuck to under $80k. Without the $7500, I'm going to pass. Uggh.

 

[TaxmanHog]

Question...I've had my Lighting on order and had a 22 order get bumped to 23. Ford is honoring the pricing...my original pricing keeps me under $80k. The updated pricing and sticker I don't have to is over $80k. Does that mean I'm not eligible for the $7500 credit?

PM sent with more details, but the impact on bottom line (less D&D fee) with consideration of price protection is not clear with regard to the federal credit, one might take an aggressive stance that you still qualify, but the first test cases for this wouldn't be filed until winter/spring of 2024 for tax year 2023. Please consult a CPA with strong familiarity to theses credits for an opinion about pursuing the credit or not.

@Ford Motor Company Accounting & Legal departments need to investigate the impact on customers with price protection credits for MY22 to MY23 order conversions !!!! Maybe a special Window sticker or qualifications statement for these buyers are in order?!?!

 

[TaxmanHog]

That s#$ks. I wish Ford would roll back the window sticker to the honored price. I had specifically configured the stuck to under $80k. Without the $7500, I'm going to pass. Uggh.

You will still qualify for the Mass MOR-EV TRUCK credit of $7500!!!!

 

[TaxmanHog]

See new thread for details of the 2024 and beyond point of sale process, as well as updates to 2023 policy and procedures:
https://www.f150lightningforum.com/...leases-guidance-for-new-ev-tax-credits.16913/

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