[jimfigler]

IRS update MSRP classification on SUVs. Now all are covered by the 80k Cap including all MME.

But this new item leaves me scratching my head on demo sales.

Q8. What does "original use" mean? (updated February 3, 2023)
A8. For purposes of the new clean vehicle credit, "original use" means the first use to which the vehicle is put after it is sold, registered or titled. A vehicle is not a new clean vehicle if (1) another person (including a dealer) has ever purchased, registered or titled the clean vehicle and (2) placed it in service for any purpose (including as a dealer demonstrator vehicle). Where a vehicle is acquired for lease to another person, the lessor is the original user. Test drives by potential buyers do not disqualify a vehicle from eligibility for the new clean vehicle credit provided the dealer has not titled the vehicle to itself as a demonstrator vehicle.

 

[ChasingCoral]

IRS update MSRP classification on SUVs. Now all are covered by the 80k Cap even all MME.

But this new item leaves me scratching my head on demo sales.

Q8. What does "original use" mean? (updated February 3, 2023)
A8. For purposes of the new clean vehicle credit, "original use" means the first use to which the vehicle is put after it is sold, registered or titled. A vehicle is not a new clean vehicle if (1) another person (including a dealer) has ever purchased, registered or titled the clean vehicle and (2) placed it in service for any purpose (including as a dealer demonstrator vehicle). Where a vehicle is acquired for lease to another person, the lessor is the original user. Test drives by potential buyers do not disqualify a vehicle from eligibility for the new clean vehicle credit provided the dealer has not titled the vehicle to itself as a demonstrator vehicle.

The important text is "provided the dealer has not titled the vehicle to itself as a demonstrator vehicle". This has always been the case. Some states require titling of mannequins, others do not. You'll want to check the requirement in the state where you are purchasing the mannequin.