If you are in the market for an electric golf cart or just like taking advantage of IRS loopholes here is a great way to save money on an electric golf cart under the golf cart tax rebate program.
Step 1
First purchase a golf cart that meets the standards necessary to qualify for the tax rebate on electric vehicle tax incentive program.
Step 2
Next, to qualify for the rebate, the golf cart must be electric, roadworthy, and meet additional safety standards.
Step 3
Then, choose an electric cart(preferably new) that retails anywhere from $7,500 and $10,0000 and can travel 15 to 25 miles per hour. These types of carts, when all other criteria are met, usually qualify for a tax rebate at nearly 60 to 70% of there retail value.
Step 4
Next, make sure your golf cart is has a rear view and side view mirrors to meet safety standards necessary to qualify for a tax rebate..
Step 5
Also, make sure the golf cart is equipped with seat belts or have them installed to meet another requirement for a tax rebate of a road-worthy electric vehicle.
Step 6
If all requirements are met you should receive a tax rebate of between $4,200 to $5,500 back from the IRS on the purchase of your golf cart.
Step 7
A last idea, as stated by a man in Florida who sells golf carts, is to buy the new cart and lease it back to him for approximately the difference between the retail price ($8,000) and the tax rebate amount ($5,300) or 27 payments of 100 dollars at the end you will own the cart or he will buy it back from you for an additional 2000 in your pocket.