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.
First purchase a golf cart that meets the standards necessary to qualify for the tax rebate on electric vehicle tax incentive program.
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Next, to qualify for the rebate, the golf cart must be electric, roadworthy, and meet additional safety standards.
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.
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..
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.
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.
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.
Look into any state incentives that may be offered in addition to the federal tax rebate offered on an electric golf cart Keep receipts for all costs of golf cart and file on your 2009 income tax