[lokeymd]

Hello, just wondering if anyone has an idea/ estimate based on vehicles sold or sales projection on when the $7500 federal tax credit will phase out for the 2022 x5 45e? Not sure if to try and purchase this year or maybe next year? Thank you.

[X5-G05-45e]

According to this chart BMW has about 63K cars to sell before the tax credit starts reducing.

[justinpetercushing]

IMO you should be safe in 2022; 2023/2024 I would be less confident.

[patt1289]

Originally Posted by justinpetercushing

IMO you should be safe in 2022; 2023/2024 I would be less confident.

BMW hasn't sold more than 30K QV's a year. You can keep an eye on the IRS page where this is tracked, they will announce phase out the quarter before it begins.

[lokeymd]

Is this 200,000 per company or per specific model? Just wondering since x5 40e has a credit of $4668 while the 45e still is at $7500. Thanks

[patt1289]

Originally Posted by lokeymd

Is this 200,000 per company or per specific model? Just wondering since x5 40e has a credit of $4668 while the 45e still is at $7500. Thanks

It is per Company. The 40e had a smaller battery. The credit is based on battery capacity.

[hystury]

No worries till 2023/2024

[LarsOtium]

So what’s status on EV tax credit given Congress is still diddling on budget?

If bought in January, 2022, safe at this point no matter what Congress does?

[TurtleBoy]

Originally Posted by LarsOtium

So what’s status on EV tax credit given Congress is still diddling on budget?

If bought in January, 2022, safe at this point no matter what Congress does?

There have been no changes so far.

[LarsOtium]

Originally Posted by TurtleBoy

There have been no changes so far.

I understand that. I guess I’m contemplating the issue of, if they do make changes, at what point do they not make them retroactive to Jan 1?

Specifically if they were to pass the Union shop issue for credit, which would reduce 45e credit.

End of day Congress will do what it’s going to do…

[TurtleBoy]

Originally Posted by LarsOtium

I understand that. I guess I’m contemplating the issue of, if they do make changes, at what point do they not make them retroactive to Jan 1?

You will go nuts trying to figure that out, these are politicians after all.

From a legal standpoint they can make it retroactive from any point of passage. From a political viewpoint it depends on whether they want to use the incentive as encouragement to purchase (start it next year, unlikely mid-year implementation) or reward for purchasing (retro to the beginning of the year). Assuming it ever passes, I would go with starting next year.

Last I saw, all versions of the bill reduce the 45e, whether the union passes or not.

[taek]

Originally Posted by LarsOtium

I understand that. I guess I’m contemplating the issue of, if they do make changes, at what point do they not make them retroactive to Jan 1?

Specifically if they were to pass the Union shop issue for credit, which would reduce 45e credit.

End of day Congress will do what it’s going to do…

I would guess not much changes on the EV portion of the bill, this was one area both sides agreed upon. Helping out the US auto industry. The Senate got their changes into the last version of the bill.

Anything can change, but the bill not passing wasn't because of the tax credit retroactive date.

[hb45e]

I saw few threads where it said $80k cap to qualify $7500 federal tax rebate for 2022 X545e, would like to clarify if its the base price MSRP not to exceed $80k or if its MSRP with options should not be over $80k ?
Reached out to my CA, he said he is not familiar with this matter.

[TurtleBoy]

Originally Posted by hb45e

I saw few threads where it said $80k cap to qualify $7500 federal tax rebate for 2022 X545e, would like to clarify if its the base price MSRP not to exceed $80k or if its MSRP with options should not be over $80k ?
Reached out to my CA, he said he is not familiar with this matter.

Those threads were referring to the bill that passed the House but not acted on in the Senate. There has been no change for the 2022 credit as of now.

As an aside, whether the limit is the base MSRP or the actual MSRP was not in the bill. That is something the IRS and/or the agency would decide.

[hb45e]

Thanks for clarification, so no change for 2022 credit, which means no max cap of $80k on MSRP?

Sorry I am not aware of 2021/2022 tax rebates for 45e regards to cap & qualification, as my build is $82k with options , if I can still claim federal tax rebate?

[TurtleBoy]

Originally Posted by hb45e

Thanks for clarification, so no change for 2022 credit, which means no max cap of $80k on MSRP?

Sorry I am not aware of 2021/2022 tax rebates for 45e regards to cap & qualification, as my build is $82k with options , if I can still claim federal tax rebate?

That is correct, no cap as of now.

[nZtiZia]

Originally Posted by hb45e

Thanks for clarification, so no change for 2022 credit, which means no max cap of $80k on MSRP?

Sorry I am not aware of 2021/2022 tax rebates for 45e regards to cap & qualification, as my build is $82k with options , if I can still claim federal tax rebate?

note it is not a tax rebate but a tax credit. if you qualify (most do in this forum), it'll lower your tax liability. this differs from rebates which usually have no qualification criteria.

[Kobebmw]

Does anyone know if the 2023 X5 45e will qualify for 7500 federal tax credit?

[TurtleBoy]

Originally Posted by Kobebmw

Does anyone know if the 2023 X5 45e will qualify for 7500 federal tax credit?

Yes it will, BMW shouldn't reach the threshold until next year sometime.

[doyall]

Has anyone seen the Q1 2022 qualifying EV sales numbers?

[KenEsq]

Originally Posted by Kobebmw

Does anyone know if the 2023 X5 45e will qualify for 7500 federal tax credit?

Yes, it should. However, there was chatter of the rebate being limited to vehicles under $80,000. That's not in the law now, but could be added in the future.

Massachusetts changed its $2,500 rebate to only cover cars under $50,000.

[nordring]

Originally Posted by X5-G05-45e

According to this chart BMW has about 63K cars to sell before the tax credit starts reducing.


Attachment 2806471

Would you be able to provide the link for this date. Looking at a LCI xDrive45e (50e) and would like to see how the numbers progressed and try to extrapolate run out date for BMW.

Thx!