I know I’m late to the game in reporting this, but I couldn’t let the deadline pass without letting you know. While visiting with my Dad, a practicing CPA, over the holiday weekend, I learned about a certain loophole in the tax code created, in part, by Obama’s stimulus plan, that is allowing people to get free golf carts. It’s being called the “golf cart tax credit“, although the official language calls it a “Plug-In Electric Vehicle” credit.
The reason it’s being called the golf cart tax credit is because the vehicles that manufacturers are building to meet the tax credit guidelines look just like golf carts. The only difference from what I can determine is that the golf carts have been modified to be “street legal” for road use and their battery power has been improved.
To take advantage of this credit, you’ll need to make the purchase by December 31, 2009. It’s also important to note that the credit is non-refundable. In other words, you can’t get more in credit than you actually owe in 2009 taxes.
Drive Electric at FreeElectricCar.com seems to have taken full advantage of this tax loophole and is selling these free golf carts via their website:
Crazy. I’m tempted to call and find out more. Although I hardly have use for a golf cart. What do you think?
See more from the IRS rules for plug-in electric vehicle tax credit, the IRS press release on the credit, and more from this Slick Deals forum thread on the golf cart tax credit.