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tax loophole gives big tax credit on golf carts!!!

Old 10-21-09, 01:02 PM
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tax loophole gives big tax credit on golf carts!!!

http://abcnews.go.com/Business/golf-...ory?id=8875161

Bill Morgan has been in business for a dozen years, but he's never seen demand like this: Customers are flocking to his showroom to purchase electric, street-legal golf cars -- golf carts that can be driven on public roadways as well as golf courses.

"The economy is not good for golf right now," Morgan, the owner of Action Golf Cars in Ormond Beach, Fla., said. But the golf cars are "selling so fast, it's amazing."

It's all thanks, he said, to the federal government. The bailout bill that last year helped keep the U.S. banking system afloat also contained lesser-known provisions to benefit other industries, including the electric car business.

Under the Bush administration's Emergency Economic Stabilization Act, buying a plug-in electric motor vehicle can make a consumer eligible for a tax credit of at least $2,500 plus additional cash depending on a car's battery capacity.

In April, the Internal Revenue Service confirmed that "neighborhood electric vehicles" or NEVs -- a common term for electric-powered golf cars and other low-speed vehicles allowed on public roadways -- bought in 2009 qualified for the tax credit.

Morgan said the battery capacity on 12 cars he sells qualifies them for tax credits of $5,335 each.


In recent months, he and golf car dealers across the country have been advertising the tax credit as an incentive to get buyers in the door -- and it's working, they say.

Unlike traditional golf carts, golf cars that are street-legal must include safety features such as headlights, seat belts, parking breaks and driver's side mirrors, according to federal mandates. They are allowed to reach maximum speeds of 25 miles per hour and individual states decide which roadways the cars may travel on.

Morgan said he's sold 40 cars priced between $6,495 and $10,600 in the last six weeks -- more than $260,000 in sales, which he said is a record for his company. Morgan's supplier, South Carolina-based JH Global Services, Inc., told ABCNews.com that it's seen spikes in sales too.

"A month of sales now is almost equal to a couple of quarters in the past," JH Global CEO Jane Zhang said.
I found out about this because my dad heard about it and has decided to go out and buy one. You can't go too damn wrong when you can buy a new street legal cart for $9,000 and get $5,000 back. That makes them cheaper than a new, non street legal cart. He won't use it on the road.
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Old 10-21-09, 01:30 PM
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Re: tax loophole gives big tax credit on golf carts!!!

Wait, Democrats subsidize rich people playing golf? Something is wrong with this picture. (I'm sure they only meant it to be available to lawyers, actors, politicians (Democratic) and maybe doctors.)
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Old 10-21-09, 02:53 PM
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Re: tax loophole gives big tax credit on golf carts!!!

This was actually a Bush uber spending deal. They are strikingly similar in how they act, though.
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Old 10-21-09, 03:01 PM
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Re: tax loophole gives big tax credit on golf carts!!!

I'm buying 20 and then reselling them on ebay!
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Old 10-22-09, 07:14 PM
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Re: tax loophole gives big tax credit on golf carts!!!

They are very tough to find as a result of this. But we found 2 that we will probably buy. Price of the golf cars are $6,695 each and they each have $4,234.72 in tax credits for a net price of about $2,460.

That's freaking wild.
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Old 10-26-09, 07:31 PM
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Re: tax loophole gives big tax credit on golf carts!!!

I live in a neighborhood where these are very popular and I really dislike them.

1. Parking is very limited in my neighborhood and the street legal models are so large that they occupy the same space as a full sized car. Owners typically have bicycles and kayaks in their garages, their cars on the street, and now these carts are competing for already limited parking.

2. The limited range and speed of these carts means that they do not substiture for owning a full sized car. So instead of owning one car, a person owns a car for big trips and a cart for local trips. Double the cost, double the parking occupancy, double everything.

3. They are opened sided and weigh next to nothing. In an accident (even a low speed one) the occupants are truely fucked. As the driver of a car I fear hitting one of these carts because I will surely kill everyone in it, whereas if they had been in a Honda Civic they would all walk away.

Bottom line is these things suck, and to now find out that they proliferate because the tax payer is picking up the tab adds insult to injury.

Last edited by Mabuse; 10-27-09 at 02:10 PM.
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Old 10-26-09, 08:03 PM
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Re: tax loophole gives big tax credit on golf carts!!!

Only 1 around here, but soon there will probably be many. But our will all be used exclusively on the course. Thanks, government.
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Old 10-27-09, 02:12 PM
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Re: tax loophole gives big tax credit on golf carts!!!

Originally Posted by kvrdave View Post
Only 1 around here, but soon there will probably be many. But our will all be used exclusively on the course. Thanks, government.
And all the rich bleeding hearts will feel good about themselves as they drive a "green" vehicle while playing a sport on a course that polutes the environment and consumes millions of gallons of water every day. Delusional!
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Old 10-27-09, 02:51 PM
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Re: tax loophole gives big tax credit on golf carts!!!

The people around here don't give a shit if it is green or not. They feel good about getting a golf cart for 63% off. It is the lube to the ass rape the government gives so often.
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Old 10-27-09, 06:22 PM
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Re: tax loophole gives big tax credit on golf carts!!!

Originally Posted by kvrdave View Post
The people around here don't give a shit if it is green or not. They feel good about getting a golf cart for 63% off. It is the lube to the ass rape the government gives so often.
Oh I hear you. But you know deep down that their ego swells at the idea of driving an electric vehicle.
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Old 10-27-09, 06:35 PM
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Re: tax loophole gives big tax credit on golf carts!!!

Originally Posted by Mabuse View Post
Oh I hear you. But you know deep down that their ego swells at the idea of driving an electric vehicle.
On the golf course? I think it is about laughing their asses off at getting a fancy, street-legal golf cart for less than the price of a regular (golf course legal) golf cart.

What idiot Congress-critters snuck this in the bill, and what other idiot Congress critters voted without reading. They should be prime candidates for early retirement.

Last edited by OldDude; 10-28-09 at 08:32 AM.
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Old 10-27-09, 11:15 PM
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Re: tax loophole gives big tax credit on golf carts!!!

Originally Posted by Mabuse View Post
Oh I hear you. But you know deep down that their ego swells at the idea of driving an electric vehicle.
The culture is very different here. If anything, it would be closer to embarassment.
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Old 10-28-09, 08:37 AM
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Re: tax loophole gives big tax credit on golf carts!!!

This story made Good Morning America this morning. They seemed a little embarassed (horrified?) by the amount of the credit and the general stupidity of this. The picture of some (perhaps poorer) taxpayers subsidizing fancy golf carts for the wealthy is just a perfect poster child for the stimulus bill. One was a "Hummer" model golf cart that retails for $18K but had $6K off.

Of course, golf cart peddlers are milking this for all it is worth. The GMA story cautioned us NEVER to call them golf carts, if we want the IRS credit, they are LSVs (Low Speed Vehicles). But, if it quacks like a duck. . .
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Old 10-28-09, 12:13 PM
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Re: tax loophole gives big tax credit on golf carts!!!

In order to qualify (any vehicle) they have to be submitted to the IRS and approved. If the IRS has approved them, it doesn't matter what you call them. I've seen the letter on the model I am buying.
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Old 10-28-09, 10:18 PM
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Re: tax loophole gives big tax credit on golf carts!!!

Originally Posted by Mabuse View Post
I live in a neighborhood where these are very popular and I really dislike them.

1. Parking is very limited in my neighborhood and the street legal models are so large that they occupy the same space as a full sized car. Owners typically have bicycles and kayaks in their garages, their cars on the street, and now these carts are competing for already limited parking.

2. The limited range and speed of these carts means that they do not substiture for owning a full sized car. So instead of owning one car, a person owns a car for big trips and a cart for local trips. Double the cost, double the parking occupancy, double everything.

3. They are opened sided and weigh next to nothing. In an accident (even a low speed one) the occupants are truely fucked. As the driver of a car I fear hitting one of these carts because I will surely kill everyone in it, whereas if they had been in a Honda Civic they would all walk away.

Bottom line is these things suck, and to now find out that they proliferate because the tax payer is picking up the tab adds insult to injury.


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Old 10-28-09, 10:34 PM
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Re: tax loophole gives big tax credit on golf carts!!!

Actually saw a golf cart parked at Wendy's. Ah, Florida. Doubt that one was electric.
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