State Tax refund up to 3K for flex fuel vehicle

[all star rod]

I was recently told that if you bought a car or truck that is "flex fuel" E85 that you will get 3K credit on your STATE taxes. If purchased in 2012 you can claim it on your 2013 state taxes and if purchased in 2011 you claim it on this years taxes. I bought a new chevy 4x4 "flex fuel" in JAN 2011. I already did my state taxes; however, I was able to change them on TURBO TAX for my 3K credit / check coming my way. You will need your registration/VIN # as proof. The max is 3K or 10% of vehicle price up to 3K. Note, this is only for LA state taxes and the vehicle has to be registered in LA. I actually think the state started doing this in 2009.

[fishinpox]

I'm on it just text my accountant

[all star rod]

Originally Posted by fishinpox

I'm on it just text my accountant

Went on Turbo Tax "state" one last night and input all the info and it was accepted..wife already has the $ spent on swimming pool BS...

[CajunSaint]

Thanks ASR!!

Just purchased a 2012 FX2 F150

[Lake Chuck Duck]

Dang! I got a flex fuel but I bout it in 2010

[Cajun Outdoors]

Thank obama. Those funds come from the "American reinvestment and reco ery act". Bailout.

[Cajun Outdoors]

Originally Posted by Lake Chuck Duck

Dang! I got a flex fuel but I bout it in 2010

You can amend your '10 return and get the credit. I have clients that have bought one in '10 and '11.

[all star rod]

Originally Posted by Cajun Outdoors

Thank obama. Those funds come from the "American reinvestment and reco ery act". Bailout.

This is LA state thing. Looking at it on line, not all states give this credit for e85 as LA is doing.

[Cajun Outdoors]

Originally Posted by all star rod

This is LA state thing. Looking at it on line, not all states give this credit for e85 as LA is doing.

Correct. But our state is broke. This and the solar tax credit the state gives are funded by the bailout. Just an FYI.

Basically the LDNR was given some of the bailout funds to promote alternative energy. So this is how they decided to dole it out.

[Big Kahunaz]

I guess a hybrid would fit into this category....correct?


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I am here: http://tapatalk.com/map.php?k3zizh

[Ducktrickster]

Anyone running E85 in their truck? If not then what makes you elligible for the refund?

[mcjaredsandwich]

Heard one of my ag professors who is also a farmer say today that the govt will soon stop subsidizing corn production because of record high corn prices. He also said other factors that will influence the elimination of corn subsidies are decreased fuel efficiency and the fact we have so much potential oil. He may have just been wishfully thinking out loud, but it definitely makes sense. Everything that has corn products in it will be cheaper if corn based ethanol was eliminated. Milk, beef, numerous food products...and petroleum related jobs would increase.

[all star rod]

Originally Posted by Big Kahunaz

I guess a hybrid would fit into this category....correct?


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I am here: http://tapatalk.com/map.php?k3zizh

Yes you will get a federal and state break....
the e85 is only a state deal.

["W"]

Originally Posted by Cajun Outdoors

Thank obama. Those funds come from the "American reinvestment and reco ery act". Bailout.

Originally Posted by Cajun Outdoors

You can amend your '10 return and get the credit. I have clients that have bought one in '10 and '11.

Originally Posted by Cajun Outdoors

Correct. But our state is broke. This and the solar tax credit the state gives are funded by the bailout. Just an FYI.

Basically the LDNR was given some of the bailout funds to promote alternative energy. So this is how they decided to dole it out.

Correct part of Obama "Welfare Program"

[all star rod]

Originally Posted by "W"

Correct part of Obama "Welfare Program"

So if you bought a vehicle that was flex fuel, you would not take advantage of the tax rebate if it is legal??????

[mcjaredsandwich]

Originally Posted by all star rod

So if you bought a vehicle that was flex fuel, you would not take advantage of the tax rebate??????

Better question: if a student with a loan came and bought your services with that loan, would you take it?

[all star rod]

Originally Posted by Ducktrickster

Anyone running E85 in their truck? If not then what makes you elligible for the refund?

Not sure if there is a 85 gas station in the state. Most new trucks since 2010 (chevy and fords) are flex fuel. Again, it is a state thing. Not sure of all the details but I do know if you bought a vehicle that is flex fuel which e85 is, you get a credit from the state but not federal. E85 does not give you a credit on your federal taxes.

[all star rod]

Originally Posted by mcjaredsandwich

Better question: if a student with a loan came and bought your services with that loan, would you take it?

In my profession I do not deal with Students so I could care less. Ask someone who work at MICKY D's.....

Let me guess, you would not accept the tax credit on the vehicle but you vote not to replay your student loan.....

["W"]

Originally Posted by all star rod

So if you bought a vehicle that was flex fuel, you would not take advantage of the tax rebate if it is legal??????

I'm 200% against Flex Fuel... I love to burn gas... Oil and gas is what pays my bills so you will never see my family in a flex fuel Obamaocmy vehicle

[fishinpox]

Good luck finding a new truck that is not flex fuel compatible