Tax Commission Changes Credit For Electric Cars

Full story: News on 6 Tulsa

A lot of Oklahomans scrambled to buy electronic cars after they learned they could get some for practically free thanks to state and federal tax credits.
Comments
2,521 - 2,540 of 2,558 Comments Last updated Mar 28, 2013
bob in Shawnee

Shawnee, OK

|
Report Abuse
|
Judge it!
|
#2582
Oct 18, 2012
 
After we get the refund, do we have to keep tagging and carry insurance, if we do not plan to put it on the road??
Tomberlin Owner

Norman, OK

|
Report Abuse
|
Judge it!
|
#2583
Oct 19, 2012
 
bob in Shawnee wrote:
After we get the refund, do we have to keep tagging and carry insurance, if we do not plan to put it on the road??
B in Shawnee: This was on the law firms web site. You must own the LSV for a full three years to receive the tax credit. The Attorneys advise that you keep the LSV until the tax issue is resolved, but encourages you to talk with your CPA.

Based upon this, I suggest that you need to keep it tagged and insured for at least a full 3 years. After that...consult your CPA.







DFT51

Tulsa, OK

|
Report Abuse
|
Judge it!
|
#2585
Oct 19, 2012
 
received interest check today. getting close to closing this saga out.
Tomberlin Owner

Oklahoma City, OK

|
Report Abuse
|
Judge it!
|
#2586
Oct 19, 2012
 
Have not received the credit direct deposit or check yet, but did receive the interest of $1700 in the mail today!
Jack

Helena, OK

|
Report Abuse
|
Judge it!
|
#2587
Oct 20, 2012
 
Tomberlin Owner wrote:
Have not received the credit direct deposit or check yet, but did receive the interest of $1700 in the mail today!
Are you sure that it is interest? It could be a partical payment of the amount you have coming. Some people are reporting partial payments. Did you use the credit in full for 2009? I had to split mine between 2009 and 2010 and I got a check in the mail referencing 2010 for an odd amount ($189.84) which is several hundred dollars less than they owe me for 2010 and doesn't match any figure on the return.I could try to call them on Monday, but something tells me their lines are going to be very busy. I just wish they had explained what this check is for!
Bobby

Euless, TX

|
Report Abuse
|
Judge it!
|
#2589
Oct 20, 2012
 
I received my interest check as well and it states on the check it is for interest. If you have not received your credit call OTC and give them your social and they will make sure it gets processed
Jack

Helena, OK

|
Report Abuse
|
Judge it!
|
#2590
Oct 21, 2012
 
Yep, I looked again at the check and it says "interest", so that's why it was a strange amount!
Robert at Grand Lake

Jay, OK

|
Report Abuse
|
Judge it!
|
#2591
Oct 21, 2012
 
Club Car wrote:
@Robert I am in the same boat as you, and did exactly the same. The OTC is still trying to collect taxes due with interest, and have had to call twice to inform them that I am disputing the electric car credit. I came close to paying the balance just to close the appeal. I glad that I did not pay, because there seems to be some hope of collecting our money.
Have you heard any thing at all about the Club Car? Any information would be welcome..
Tomberlin Owner Shawnee

Richardson, TX

|
Report Abuse
|
Judge it!
|
#2592
Oct 22, 2012
 

Judged:

1

Refund AND Interest Received.
On Oct 17, I reported that I received my refund thru direct deposit. The deposit was made on Oct 16. Today, I received a check in the mail for the interest. The check was dated October 16 as well. The refund deposit was exactly as expected. The interest check was also what I had estimated. I.e. Two years at 18%. THIS SAGA IS OVER FOR ME.
Good luck to the rest of the Tomberlin owners and those of you with other brands. Good Luck as well to GKU and their continued saga with the State and the damage that was caused to them. Thanks as well to Roger Gaddis at Ada Electric Cars.
By the way, I was not a part of the law suit. Just tagged and insured the vehicle. Filed taxes to include the credit that was due me. Was denied. Appealed with the state thru my tax man. Had received notice from the state that they were awaiting the appealling process. Now paid in full.
Jason

Portland, TX

|
Report Abuse
|
Judge it!
|
#2593
Oct 23, 2012
 
My interest was direct deposited today. It's a lower amount than I expected. Am I doing this calculation right:

Vehicle Cost: 11,493
X 50%= 5,746.50

Year 1 interest
5,746.50 X 0.18 = 1,034

Year 2 interest
6,781 X 0.18 = 1,221

Total interest = 2,255

My interest deposit today was 1,330.

Thanks!
Tomberlin Owner Shawnee

Richardson, TX

|
Report Abuse
|
Judge it!
|
#2594
Oct 23, 2012
 
Jason wrote:
My interest was direct deposited today. It's a lower amount than I expected. Am I doing this calculation right:
Vehicle Cost: 11,493
X 50%= 5,746.50
Year 1 interest
5,746.50 X 0.18 = 1,034
Year 2 interest
6,781 X 0.18 = 1,221
Total interest = 2,255
My interest deposit today was 1,330.
Thanks!
Interest calculation is based upon the amount owed to you on your tax return. You are showing the credit on your vehicle correctly, but in the tax year that you took your credit, you may have owed money, had you not taken the credit. Look at your tax return. How much did you show they owed you, if you took the credit. It is that "Net" amount, that you use to calculate the interest owed.
Jason

Portland, TX

|
Report Abuse
|
Judge it!
|
#2595
Oct 23, 2012
 
Tomberlin Owner Shawnee wrote:
<quoted text>
Interest calculation is based upon the amount owed to you on your tax return. You are showing the credit on your vehicle correctly, but in the tax year that you took your credit, you may have owed money, had you not taken the credit. Look at your tax return. How much did you show they owed you, if you took the credit. It is that "Net" amount, that you use to calculate the interest owed.
Gotcha! That makes sense. Thanks for the quick response!
Jason

Portland, TX

|
Report Abuse
|
Judge it!
|
#2596
Oct 23, 2012
 
Had 3 checks from the OTC in the mailbox today. Guess that covers it. Checks from mail and direct deposit totaled about $5000. I'll take it!
in the know

Oklahoma City, OK

|
Report Abuse
|
Judge it!
|
#2598
Oct 23, 2012
 
The Club Car hearing was scheduled by the tax commission but then canceled and never rescheduled. So you can either press the issue by taking the credit like some I know have done or let it go.
Robert at Grand Lake wrote:
<quoted text>
Have you heard any thing at all about the Club Car? Any information would be welcome..
Robert at Grand Lake

Jay, OK

|
Report Abuse
|
Judge it!
|
#2599
Oct 25, 2012
 
in the know wrote:
The Club Car hearing was scheduled by the tax commission but then canceled and never rescheduled. So you can either press the issue by taking the credit like some I know have done or let it go.
<quoted text>
I took the credit in the year I purchased the car. The commission denied and I filed the protest. I have had to provide them the same information a couple of times after the orginal protest. Last I heard from them was a notice I owed interest and penalty for the amount of the credit. I contacted the OTC and they said I should have never receved that request until the protest issue was settled. That makes me think that it is still in the works. I may be wrong. I don't know if I should call them or just wait and see.

Thanks for your response and congratulations to those of you who are done with this mess.

Robert - Grand Lake Club Car
Tomerlin owner

Poteau, OK

|
Report Abuse
|
Judge it!
|
#2602
Oct 25, 2012
 
Received a total of 6 checks for $5296.15. I have Tomberlin 48SS for sale. Good luck to everyone else.
Club Car Driver

Oklahoma City, OK

|
Report Abuse
|
Judge it!
|
#2603
Nov 19, 2012
 
OTC Just updated their website: Looks like those of us who purchased club cars are getting paid.

For publication on OTC website:

The Oklahoma Tax Commission, after considering and applying the decisions of the Oklahoma appellate Courts, which construed the Oklahoma statute allowing an income tax credit for the purchasers of electric vehicles, has directed that all timely filed requests for the electric vehicle income tax credit by taxpayers who placed Club Car Villager electric vehicles in service before July 1, 2010, which requests were denied on the basis that Club Car Villager electric vehicles did not qualify for the subject credit, should be allowed, and those taxpayersí returns processed for allowance of the claimed credit.
Rational Tulsans

Tulsa, OK

|
Report Abuse
|
Judge it!
|
#2604
Nov 23, 2012
 
White redneck right wing conservative racist boys do not want electric cars because their entire white supremacist movement (conservatives) is bankrolled by the oil industry.
Steve-OKC

Oklahoma City, OK

|
Report Abuse
|
Judge it!
|
#2605
Nov 24, 2012
 
Rational Tulsans,
You're STILL an idiot!!!!!
I'm sure everyone is glad this Topix thread is winding down so we don't have to endure your racist, pointless rants!!
Rational Tulsans

Muskogee, OK

|
Report Abuse
|
Judge it!
|
#2606
Nov 25, 2012
 
Steve-OKC wrote:
Rational Tulsans,
You're STILL an idiot!!!!!
I'm sure everyone is glad this Topix thread is winding down so we don't have to endure your racist, pointless rants!!
Steve, you called me a name. Sir, I believe that it is necessary for you to APOLOGIZE TO ME AND FAST!!!!!!!!!!
Steve, you respect a Black man. We own the Presidency and we occupy the White House. We Blacks are the commander and chief of the armed forces. Now, you apologize to me, and you will not suffer my wrath.

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

•••
•••
•••

Owasso Jobs

•••
Enter and win $5000
•••

Owasso People Search

Addresses and phone numbers for FREE

•••

Owasso News, Events & Info

Click for news, events and info in Owasso
•••

Personal Finance

Mortgages [ See current mortgage rates ]
•••