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Discussion Starter · #1 ·
Hello Folks!! I have an offer to pick up BZ4X by this Friday and have Solterra ETA July/August...I am fine with either...tho' one of these 2 dealership is walking distance from our place.

i have some observations/questions on Federal Tax credit. The IRS site has not been updated since May 6th and does NOT include BZ4X(on the contrary Solterra is in ) and also Toyota has a link on the 2022 RAV4 Prime on Federal and State incentives BUT none on BZ4X.....is that because

a) It is over for Toyota(given it has exceeded the limit of 200K vehicle) and so BZ4X has no reference both Federal and at Toyota web site on the tax credit??
b) On the contrary I see the State mentioning Clean Fuel rewards of $750 + 2000 + HOV sticker
c) My wife read that manufacture has to apply for Federal rebate on newer model and is pending because they are close to 200K and or in review....please note as mentioned earlier Federal IRS site has not been updated since May 6, 2022

Kindly help, please my offer to pick up expires this Friday I have a deposit and car is there at my dealership...should I stick to the original Solterra (Limited is what I have booked)


Thanks in advance
IRC 30D New Qualified Plug-In Electric Drive Motor Vehicle Credit | Internal Revenue Service (last update May 6, 2022)
https://www.fueleconomy.gov/feg/taxevb.shtml(last update May 11, 2022)
 

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Hello Folks!! I have an offer to pick up BZ4X by this Friday and have Solterra ETA July/August...I am fine with either...tho' one of these 2 dealership is walking distance from our place.

i have some observations/questions on Federal Tax credit. The IRS site has not been updated since May 6th and does NOT include BZ4X(on the contrary Solterra is in ) and also Toyota has a link on the 2022 RAV4 Prime on Federal and State incentives BUT none on BZ4X.....is that because

a) It is over for Toyota(given it has exceeded the limit of 200K vehicle) and so BZ4X has no reference both Federal and at Toyota web site on the tax credit??
b) On the contrary I see the State mentioning Clean Fuel rewards of $750 + 2000 + HOV sticker
c) My wife read that manufacture has to apply for Federal rebate on newer model and is pending because they are close to 200K and or in review....please note as mentioned earlier Federal IRS site has not been updated since May 6, 2022

Kindly help, please my offer to pick up expires this Friday I have a deposit and car is there at my dealership...should I stick to the original Solterra (Limited is what I have booked)


Thanks in advance
IRC 30D New Qualified Plug-In Electric Drive Motor Vehicle Credit | Internal Revenue Service (last update May 6, 2022)
https://www.fueleconomy.gov/feg/taxevb.shtml(last update May 11, 2022)
Full tax credit for deliveries through the quarter they hit 200,000 EVs and full tax credit for deliveries through the subsequent quarter. Then, 50% of the credit for two quarters, then 25% of original credit for two quarters. Then, completely expires. There's another long thread on this issue in this forum.
 

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Hello Folks!! I have an offer to pick up BZ4X by this Friday and have Solterra ETA July/August...I am fine with either...tho' one of these 2 dealership is walking distance from our place.

i have some observations/questions on Federal Tax credit. The IRS site has not been updated since May 6th and does NOT include BZ4X(on the contrary Solterra is in ) and also Toyota has a link on the 2022 RAV4 Prime on Federal and State incentives BUT none on BZ4X.....is that because

a) It is over for Toyota(given it has exceeded the limit of 200K vehicle) and so BZ4X has no reference both Federal and at Toyota web site on the tax credit??
b) On the contrary I see the State mentioning Clean Fuel rewards of $750 + 2000 + HOV sticker
c) My wife read that manufacture has to apply for Federal rebate on newer model and is pending because they are close to 200K and or in review....please note as mentioned earlier Federal IRS site has not been updated since May 6, 2022

Kindly help, please my offer to pick up expires this Friday I have a deposit and car is there at my dealership...should I stick to the original Solterra (Limited is what I have booked)


Thanks in advance
IRC 30D New Qualified Plug-In Electric Drive Motor Vehicle Credit | Internal Revenue Service (last update May 6, 2022)
https://www.fueleconomy.gov/feg/taxevb.shtml(last update May 11, 2022)

With the Toyota you should still qualify for full incentives based on timing of purchase prior to end of Q2, I would just confirm that your state or local government doesn't have any pending credits that you might miss by pulling the trigger now. Illinois has a $4k rebate that is only good for purchases after July 1st and only for vehicles purchased in state, so the current expected timing for Solterra arrivals works out better for me than the BZ4X I reserved at another dealer I've worked with across the border in Missouri.
 

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Discussion Starter · #4 ·
Understand...and thank you!

But my question still remains because neither Toyota website nor IRS has BZ4x listed as the candidate for tax rebate with caveat IRS has not updated their web site since May 6

But in case of Toyota unlike mention of Federal and State benefits for RAV4 Prime....in their BZ4X there is NOT a single mention of that benefit....

So if there is a phase out happening for Toyota (BZ4X) how does one verify?
 

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Discussion Starter · #5 ·
With the Toyota you should still qualify for full incentives based on timing of purchase prior to end of Q2, I would just confirm that your state or local government doesn't have any pending credits that you might miss by pulling the trigger now. Illinois has a $4k rebate that is only good for purchases after July 1st and only for vehicles purchased in state, so the current expected timing for Solterra arrivals works out better for me than the BZ4X I reserved at another dealer I've worked with across the border in Missouri.
Thank you.. very interesting on new state benefits...here California we need to suck it out before they do, lol
Still worried there is NO official site/information neither Toyota and IRS
 

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Thank you.. very interesting on new state benefits...here California we need to suck it out before they do, lol
Still worried there is NO official site/information neither Toyota and IRS
Yeah it sucks not having concrete information, but at worst you would still qualify for 50% with a purchase this week as the credit doesn't end totally it just gets phased out over coming quarters. I would also look at the fact that the credit is based on when the totals are reported, so as of May 1st Toyota reported 190k sales, I would assume alll purchases prior to June 1st would qualify. We know the BZ4X would get the full credits based on battery size as long as the purchase occurs before the 200k sale is reported
 

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Discussion Starter · #7 ·
Yeah it sucks not having concrete information, but at worst you would still qualify for 50% with a purchase this week as the credit doesn't end totally it just gets phased out over coming quarters. I would also look at the fact that the credit is based on when the totals are reported, so as of May 1st Toyota reported 190k sales, I would assume alll purchases prior to June 1st would qualify. We know the BZ4X would get the full credits based on battery size as long as the purchase occurs before the 200k sale is reported
Thank you N2Fw!!!
I was in a call with Toyota and they do NOT have anything official to share except AP press article with Bob Carter...but I told them this is like he said she said....dang Federal tax credits will soon be phased out for Toyota EV customers in the US
 

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Yeah it sucks not having concrete information, but at worst you would still qualify for 50% with a purchase this week as the credit doesn't end totally it just gets phased out over coming quarters. I would also look at the fact that the credit is based on when the totals are reported, so as of May 1st Toyota reported 190k sales, I would assume alll purchases prior to June 1st would qualify. We know the BZ4X would get the full credits based on battery size as long as the purchase occurs before the 200k sale is reported
The purchase just needs to occur before the end of the quarter AFTER Toyota reaches 200,000. So, if they reach 200k by June 30, purchase must be made by September 30 to qualify for $7,500. If they reach 200k in July, then purchase must be made by December 31.
 

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Discussion Starter · #9 ·
The purchase just needs to occur before the end of the quarter AFTER Toyota reaches 200,000. So, if they reach 200k by June 30, purchase must be made by September 30 to qualify for $7,500. If they reach 200k in July, then purchase must be made by December 31.
Agreed JayEM!! But please note for all of us this is "OUR" educated understanding which is most likely correct. But whatever reason Toyota is NOT promoting (like they did for RAV4EV) federal/state for BZ4X....my wife had read(somewhere) the company needs to file with Feds.....so it remains a $64 question.... But interestingly here in California BZ4X is listed in the incentive page so confused still(not looking for any theory, lol) given I have to pick this one by Friday
 
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