Tax Credit Info - Ada Electric Cars of Edmond




OTC Denies Credit Customer Guidance Letter: Ada Electric Cars has heard that some taxpayers have received word back this week from the OTC that their electric vehicle tax credit had been denied. We continue to work in a pro-active way in an effort so every taxpayer gets the credit as provided in the Okla. statute. We have a case filed in Oklahoma County to have a new judge hear and rule on the facts. I do not have a hearing date, but will pass on information as it comes available. Regarding the recent denials: I am disappointed, but after all the dishonest and unethical actions of the OTC, I am not completely surprised that the initial OTC position is to deny the credit. I believe the OTC is totally WRONG in continuing to act on the “emergency ruling….body style akin to a golf cart” provision that they proposed, but then said they retracted. Please ask the OTC to respond in writing with the SPECIFIC reasons why the credit is being denied. Emphasize that you need/want more information than simply: "based on section 2357.22” the credit is denied. What EXACTLY is their position? Are they saying it "is a golf cart," or is there something specific that the vehicle has or does not have that disqualifies it? We need them to be VERY SPECIFIC so we can understand their position. This is far from over, but again, it would be very helpful to get them to commit in writing, and in detail, as to WHY they denied it. Roger Gaddis CPA/CFP owner, Ada Electric Cars _____________________________________________________________________________________________________________ Due to overwhelming interest in our Street-Legal Electric Vehicles and requests for documentation regarding the tax incentives associated with them, we have accumulated the following information. This information covers issues regarding street-legal low-speed vehicles, also know as LSV's (low-speed vehicles) or NEV's (neighborhood electric vehicles) and the associated Income Tax Credit Programs. Click on the links below to view.


Federal Tax Credit Certification Letters Tomberlin Tax Certification Letter Stealth Tax Certification Letter Bad Boy Buggies Tax Certification Letter E2 Classic Tax Certification Letter American Custom Cars Tax Certification Letter Federal Tax Credit Information: 2009 Rules for Low Speed Electric Vehicles 2010 Rules for Low Speed Electric Vehicles Qualified LSV Credit Under section 30 Notice 2009-58 Qualified LSV Credit Under section 30 Notice 2009-89 IRS Form 8834 Federal Tax Credit (10% Credit) & Recapture Info Credit applies against AMT Federal Tax Guidelines for LSV's IRS Form 8936 (Use to Claim your big Credit for 2009)


State Tax Credits Oklahoma Tax Credit Form 511CR (this is form 1 of 2 needed for credit) Oklahoma Tax Credit Form 567B (this is form 2 of 2 needed for credit) 2009 Rules for Oklahoma Tax Credit 2010 Rules for Oklahoma Tax Credit (for purchase prior to 7/01/2010 Original Approval issued by the OTC for Electric Cars before there Sept 17 ruling Golf Carts: not street legal-can't tag Pat's Archery LSV Approval Contact info for the OTC, Governor, State Senator & State Representatives Click the link below for Govenor Henry's contact info Governor's Contact Info Click the link below for OTC Contact Info Oklahoma Tax Commission Contact Info Click the Link below to view all Oklahoma State Senators http://www.oksenate.gov/senators/directorybydistrict.htm Click the link below to view all Oklahoma State Representatives http://www.okhouse.gov/members/memberlisting.aspx


Additional accessories optional at additional cost. Many LSV's have Federal and State Tax Credits available to those who pay tax. Credits may be subject to AMT limitations. Unused Tax Credits are available to carryover and use in subsequent years, see tax regulations for details. Must be insured/tagged to be street-legal. Only street-legal electric cars qualify for the credits noted(not golf carts/go-carts, etc.). We are not rendering legal/tax advice. Please consider your own situatuion & seek the opinion of your own professional advisors. Insurance, excise tax, tag & registration fees extra, and are not included in tax credit program. All Sales Final.

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