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I thought there is just a $7500 rebate. I was reading some post where someone mentioned a $12,500 rebate. What is that?

Is there a rebate thru ford certified electricians? Or is it a SCE rebate?

Any other rebates?
 

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Neither is a rebate, both are tax credits. The $7,500 credit is the current credit.

The $12,500 is the proposed TOTAL credit in the House version of the budget bill and would completely replace the $7,500 credit. It is composed of several separate credits that will total up to $12,500 based on whether a vehicle qualifies. Right now there is a proposed MSRP cap of $74,000 on pickup trucks, with lower caps for other vehicle classes, in order to get the new credit.
 

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Can you tell me if Federal Tax Credit is different if place in service 2022 vs 2023?
Yes.

Unless you have total federal tax liability of less than $7500, I cannot think of a known scenario where you would benefit by waiting to take delivery after 12/31/22. The eligibility for the Lightning itself in 2023 is unknown.
 

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I keep getting mixed advice. Called Ford customer service, no help. Spoke with the salesman at dealer who told me 2023's delivered this year do not qualify for 7.5 K federal tax credit. He said he did not know re deliveries in 2023.
Does anyone know or have a link to a site that clearly explains eligibility rules for 2022 and 2023 deliveries? Thanks
 

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2021 Mustang Mach E First Edition, 2016 Nissan Leaf, 2003 Toyota Tacoma, F-150 Lightning Lariat ER
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I keep getting mixed advice. Called Ford customer service, no help. Spoke with the salesman at dealer who told me 2023's delivered this year do not qualify for 7.5 K federal tax credit. He said he did not know re deliveries in 2023.
Does anyone know or have a link to a site that clearly explains eligibility rules for 2022 and 2023 deliveries? Thanks
The salesman is wrong. MY doesn't matter. Date of sale and "placed in service" does.

Before 12/31/2022 ANY F-150 Lightning is eligible for a $7,500 tax incentive. The only limitation is your personal tax liability. If you owed (withholdings don't matter) $7,500 or more you are eligible for all of it.

1/1/2023 and beyond:
  • Revised credit applies to BEV cars with an MSRP below $55k
  • Also includes zero-emission vans, SUVs, and trucks with MSRPs up to $80,000
  • The federal EV tax credit will be available to individuals reporting adjusted gross incomes of $150,000 or less, or $300,000 for joint filers
  • Eligible Lightnings will get at least $3750 and perhaps $7,500

This has been discussed repeatedly on the Forum. Just do a search for threads with "tax" in the title.
 
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Rule #1.
Don't trust the salesman to give you tax advice.
If you don't believe the IRS or the forums, you're on your own with Google.

Rule #2
For anything delivered after 12/31/22, don't believe anything but the final IRS interpretation when it is issued.
 
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