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Utah clean fuel vehcile tax credits - how to get them

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  • #46
    Re: Utah clean fuel vehcile tax credits - how to get them

    I purchased a 2008 Honda GX but since I knew I would probably not be eligible for a Federal Tax Credit that tax year (because I took other credits), I neglected to process the papers for the Utah Tax Credit. Come to find out that I should have since I can carry the credit up to 5 years. I am now contemplating selling the vehicle and my question is this: Since I never took the tax credit, can I increase the selling price by $3,000?

    Thanks

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    • #47
      Re: Utah clean fuel vehcile tax credits - how to get them

      Hey Bruce, how is my ol neighbor?

      The Utah tax credit stays with the vehicle until taken. It is down to $2,500 from the former $3,000 but yes, this does increase the vehicle value for a Utah buyer if you did not take it and want to now sell.
      http://www.airquality.utah.gov/Plann...Tax_Credit.htm

      With that nice Alpine School District station just down the road why would you want to part with the GX?

      Comment


      • #48
        Re: Utah clean fuel vehcile tax credits - how to get them

        Hey John,

        I got my Utah gascard and have been using the Alpine School district pump for a few months (best pump in the valley!). Plus the Sinclair pumps (down by Geneva) have been greatly improved. So, lack of pumps is not the issue.

        The GX has performed almost flawlessly since I bought it August of '08. I absolutely love everything about. It is without a doubt the best vehicle I think I have ever owned. Wish I had a fleet of them. I really hate the thought of giving it up.

        The reason is financial. If my business doesn't start picking up, I will have to start liquidating assets. The GX is a valuable asset. If I ever did let it go, I would probably turn right around and buy another one (or two or three) once things got better.

        What's the best way to sell a GX? Do you have a place in this forum for things like that? Obviously I would like to sell it within the state.

        - Bruce

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        • #49
          Re: Utah clean fuel vehcile tax credits - how to get them

          You can post it in the Marketplace forum.
          Hope things pick up for you!

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          • #50
            Re: Utah clean fuel vehcile tax credits - how to get them

            Originally posted by Highmarker View Post
            FYI,

            If your tax credit is carried over to another year, and the revision on your TC-40V form is 7/08, you don't need to resend it to the Division of Air Quality and have it signed/stamped again. Just continue to fill out the carryover information on the same form.
            highmarker my parents are taking the credit on my car since they actually have to pay state taxes whereas I, being a student get my entire refund. They received a partial amount last year and I wanted to make sure they receive the final amount this year. You said that they just have to continue to fill out the carryover information on the same form? Can you go into a little more depth, I do recall filling out the form TC-40V rev. 7/08, but I don't think they had to submit anything with their taxes last year. Any help is much appreciated.

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            • #51
              Re: Utah clean fuel vehcile tax credits - how to get them

              Well the tax credit for 2010 is only $2,500. But people will be comparing the price to what they could get it for new. So I would try selling it for something reasonable. I just bought a 2009 with 2k miles and got it for under $17k and the Utah tax credit hasn't been used yet. So good luck.

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              • #52
                Re: Utah clean fuel vehcile tax credits - how to get them

                Originally posted by Ctown00 View Post
                Well the tax credit for 2010 is only $2,500. But people will be comparing the price to what they could get it for new. So I would try selling it for something reasonable. I just bought a 2009 with 2k miles and got it for under $17k and the Utah tax credit hasn't been used yet. So good luck.
                BTW Bruce, I would look at trying to use the tax credit and push to sell it in Colorado. They can get just over $6k in their state tax credit. They have the best incentives. That is where I bought mine from and why I got such a great deal.

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                • #53
                  Re: Utah clean fuel vehcile tax credits - how to get them

                  Originally posted by Pclement View Post
                  highmarker my parents are taking the credit on my car since they actually have to pay state taxes whereas I, being a student get my entire refund. They received a partial amount last year and I wanted to make sure they receive the final amount this year. You said that they just have to continue to fill out the carryover information on the same form? Can you go into a little more depth, I do recall filling out the form TC-40V rev. 7/08, but I don't think they had to submit anything with their taxes last year. Any help is much appreciated.
                  Pclement,

                  They don't have to submit anything to the Divison of Air Quality to have it stamped. They just continue to fill out the "carryover" information on Line 10 in columns A, B, and C on their TC-40V form. They will still have to fill out TC-40A part 4 and submit that with their TC-40 form.
                  Jared.
                  Mountain Green, Utah
                  2003 CNG Cavalier
                  2003 CNG Silverado 2500HD

                  Comment


                  • #54
                    Re: Utah clean fuel vehcile tax credits - how to get them

                    I've tried clicking on the link at the beginning of this thread since it says the other info is outdated, but the link doesn't go to a page - only gives me an error message.

                    Anyways, my husband and I purchased a 2002 bi-fuel Chevy Cavalier last August and were told by the dealer we'd get a tax credit. I've been searching on here and online for how to go about proving/claiming the credit. Can someone please point me in the right direction? I don't even know where to begin.
                    Thanks!!

                    Comment


                    • #55
                      Re: Utah clean fuel vehcile tax credits - how to get them

                      Got the top post updated with Utah DEQ's new website link, thanks.

                      Comment


                      • #56
                        Re: Utah clean fuel vehcile tax credits - how to get them

                        I went to the link and it doesn't say anything specific about conversions, it only mentions new cars. Is there still a $2500 matching credit for conversions?

                        Comment


                        • #57
                          Re: Utah clean fuel vehcile tax credits - how to get them

                          Here is the scoop on UT tax credits for converted vehicles:
                          http://www.airquality.utah.gov/Plann.../converted.htm

                          Comment


                          • #58
                            Re: Utah clean fuel vehcile tax credits - how to get them

                            Thank you for that link, I don't know why I could not find that page I looked all over. So I'm reading the page about the tax credit and I get to the line that says "Conversion must be EPA certified to claim the Clean Fuel Vehicle Tax Credit." Is this still true, and didn't the EPA just relax there requirements about requiring certification of conversion kids considerably? I am trying to learn about the costs of converting a fleet of about 100 vehicles for a local company (converting over several years). We have our own mechanics (in a sister company) who do virtually all the servicing and repairs for the fleet, what training do they require before they can start installing the kits.

                            Thanks,

                            Comment


                            • #59
                              Re: Utah clean fuel vehcile tax credits - how to get them

                              check this article about the grant and loan program for conversions:
                              http://www.cleanfuels.utah.gov/grants/grantsintro.htm

                              Comment


                              • #60
                                Re: Utah clean fuel vehcile tax credits - how to get them

                                I was reading up on the 2015 utah tax credits for alternative fuel vehicles. it appears there is a tax credit for 35 percent UP to $1500 for the purchase of an OEM manufactured natural gas vehicle. can someone tell me if this tax credit is for NEW VEHICLES purchases only. I sent an email to the appropriate state agency asking them to clarify. however, I have not heard back from them yet. I don't see any auto dealers or individuals selling used cng cars in this state advertising that state tax credits might be available if this vehicle is purchase. so I am guessing there are probably no state tax credits at this time (or for the 2015 tax year) for the purchase of any used OEM natural gas vehicles.

                                thanks

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