Green Operations

Tesla Model X Eligible for $25K Tax Credit

October 13, 2015

Photo of Model X courtesy of Tesla.
Photo of Model X courtesy of Tesla.

Businesses that purchase a Tesla Model X SUV for business use in California are eligible federal and state tax credits of $35,000 that could significantly reduce the $100,000 price tag of the luxury vehicle.

The vehicle already qualifies for a federal rebate of $7,500 and a California rebate of $2,500. Additionally, because it weighs more than 6,000 pounds, it would qualify under Section 179 of the IRS tax code, meaning a business owner could deduct $25,000 of its cost as business equipment.

The deduction, which is targeted at small businesses, would reduce taxable income on a business owner's tax return. Someone in the 33% tax bracket could see a reduction of $18,250, reports the Los Angeles Times.

Comments

  1. 1. Adam [ October 22, 2015 @ 09:40PM ]

    This is a half-baked idea and explanation of depreciation!

 

Comment On This Story

Name:  
Email:  
Comment: (Maximum 10000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

 

FleetFAQ

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All
 

Grants & Subsidies

Alternative Fueling Station Locator

Alternative Fueling Station Locator

Find your closest station or plan a route. Locate biodiesel, electric, ethanol, hydrogen, compressed natural gas (CNG), liquified natural gas (LNG), and propane across America.

Start Your Search