Oklahoma & Tax (credit) question - GreenHybrid

08hybridok · #1 (**permalink**) 12-17-2007, 10:12 PM

A little early I know, but I'm trying to read online if I qualify for any state credits inaddition to the possible $3k fed credit (I suspect from last years taxes I might get upto $1k worth).

I found this online

Quote:

Oklahoma's alternative fuel vehicle tax credit also extends to low-speed electric vehicles as defined by NHTSA in 49 C.F.R. 571.500, to forklifts and other similar self-propelled vehicles, and to qualified electric and hybrid electric vehicles. For qualified electric vehicle property propelled by electricity only, the basis for the credit is the full purchase price of the vehicle. For vehicles also equipped with an internal combustion engine, the basis for the credit is limited to the portion of such motor vehicle which is attributable to the propulsion of the vehicle by electricity. (Reference Oklahoma Statutes Section 68-2357.22) See Oklahoma Income Tax Form 511CR.

(It was all ready bold online, but no where can I find what a qualified hybrid is?!

I got this from here: http://www.okcleancities.org/man_okafv.html
or here: http://www.oscn.net/applications/osc...?CiteID=436627

I normaly do my taxes online with TurboTax. I'd rather not pay H&R like $2-500 to do what I can for <$50. But I'd rather not get an audit in 4-5 years asking for proof of this & that then say oh you owe $xxx pls 4 years in penalites & fees so now it's $x,xxx!

I'm simple, married, 2 kids, no house/mortage or anyother credits.

okie mom · #2 (**permalink**) 12-21-2007, 09:29 AM

I had always assumed Oklahoma did not have a tax savings program for hybrid cars but this is an intriguing interpretation. I'll be looking more closely at this in the coming weeks...but wouldn't it be nice if it actually is true!!! Have you asked about this at an H & R Block or the Ok Tax Comm call line???

08hybridok · #3 (**permalink**) 12-21-2007, 10:16 AM

Quote:

Originally Posted by okie mom

I had always assumed Oklahoma did not have a tax savings program for hybrid cars but this is an intriguing interpretation. I'll be looking more closely at this in the coming weeks...but wouldn't it be nice if it actually is true!!! Have you asked about this at an H & R Block or the Ok Tax Comm call line???

I haven't asked yet. But I just shoot off an e-mail (like that will ever get replied to, esp during this holiday season!) and I made a call. A nice woman answered (suprised at the nice not the woman!) And said well I don't think we have a list yet, let me look. [hold] Ok here's what we have, no list but we have these website to look at:

http://www.wheat.state.ok.us/
http://www.tax.ok.gov/incometax.html
www.ok.gov

She said use the search on the ok.gov site. I haven't found anything yet, I'll continue to search. If I find anything I'll post, if you search and find anything post it back on here!

I did find this tho:
E10 Available throughout Tulsa Area: In mid-September and early October, Murphy USA and QuikTrip started selling E10, a fuel blend of 10% ethanol and 90% gasoline, at their Tulsa-area stores. Kum & Go expects to sell E10 at its Tulsa-area stores by early 2008.

According to some the the FEH hypermillers, they can really tell a difference in e10! like a few mpgs different!

okie mom · #4 (**permalink**) 12-21-2007, 10:42 AM

I did find this...

It may mean there is something to it all...

http://www.tax.ok.gov/oktax/orders/2006-09-05-05.pdf

What do you make of it?

08hybridok · #5 (**permalink**) 12-21-2007, 11:02 AM

Quote:

Originally Posted by okie mom

I did find this...

It may mean there is something to it all...

http://www.tax.ok.gov/oktax/orders/2006-09-05-05.pdf

What do you make of it?

Makes my head hurt! Looks like someone went thru 2 years of court fighting w/ the state to say hey my Prius falls into your hybrid qualifactions. I still don't see a definate answer, but I'm leaning toward yes we can get 10% upto $1500.

Altho what's this last line mean?

Quote:

It is the ORDER of the OKLAHOMA TAX COMMISSION, based upon the specific
facts and circumstances of this case that the protest should be sustained.

My lawyer speak is only as good as judge judy & alex!

The law also talks about clean burning, I know for the FEH, can't speak of others, MPG was only once factor, I know it could get better mpgs if it wasn't also trying to be low emmisions at the same time, how does this factor into the clean law/credit?

okie mom · #6 (**permalink**) 12-21-2007, 12:37 PM

It does appear they won, read this one.

http://www.okgazette.com/p/12776/a/5...AxADIANwAyADkA

Does anyone else out there know anything about this?

08hybridok · #7 (**permalink**) 12-27-2007, 03:59 PM

Ok a simple e-mail to the Tax Commission web site, here's what I sent:

Quote:

I ve read online this paragraph:

Quote:

Oklahoma's alternative fuel vehicle tax credit also extends to low-speed electric vehicles as defined by NHTSA in 49 C.F.R. 571.500, to forklifts and other similar self-propelled vehicles, and to qualified electric and hybrid electric vehicles. For qualified electric vehicle property propelled by electricity only, the basis for the credit is the full purchase price of the vehicle. For vehicles also equipped with an internal combustion engine, the basis for the credit is limited to the portion of such motor vehicle which is attributable to the propulsion of the vehicle by electricity. (Reference Oklahoma Statutes Section 68-2357.22) See Oklahoma Income Tax Form 511CR.

And since I purchased a gas/electric Hybrid vehicle this year, I am curious what vehicles qualify for this credit, and how much credit it would be.

For comparison the IRS tax credit vehicles is listed on this page, and I have copied the charts below as well: http://www.irs.gov/newsroom/article/0,,id=157557,00.html

Thanks for your time

And of couse I coppied the list into the email.
A week later this is the reply:

Quote:

Dear Bryan:

The explanation for this credit is included in the instructions for the Oklahoma Income Tax Form 511CR found on our website at www.ok.tax.gov . Please review the instructions.

If I can be of further assistance please do not hesitate to contact me.

Sincerely,

Oklahoma Tax Commission
Taxpayer Assistance Division

So I'm still confused as this info doesn't spell itself out like the IRS page does. So until I get a second reply that says my car does not qualify, I think I'm gonna file like it does. And unlike the IRS it has a 3 yr carry over

so I can use all of it, not 1/3 to 1/2 I expect to get from IRS this year.

If someone can find exact info in here please report back.

okie mom · #8 (**permalink**) 12-28-2007, 08:45 AM

I feel the same as you. Since the OTC did not say "no tax credit" I assume it means "yes tax credit".

Thus, I too shall file my OK state taxes with the credit and wait and see (I wonder if this is an audit flag?

). I'll probably file by paper and mail instead of online for the state because the 511CR seems to need some backup info that cannot be attached with turbo tax (I'll check when I prepare my turbo tax, I may be wrong).

I appreciate your foot work on this! These tax rebates are paying for new energy star replacement windows being installed in my house (saving $ to save more $).

Happy New Year All...mine is definitely happier now!!

08hybridok · #9 (**permalink**) 12-31-2007, 08:57 AM

Asking if any hybrid counts and what do I need for proof this is the answer I got back today [quote]
The last sentence of the paragraph answers your question; "A copy of a paid invoice itemizing the cost of the equipment and installation must be furnished; including, if applicable, the type of fuel to which the vehicle has been converted.”
You must also complete form 511CR.

If I can be of further assistance please do not hesitate to contact me.[quote]

So again I'm guess yes!

08hybridok · #10 (**permalink**) 12-31-2007, 08:55 PM

Did anyone catch the clip on KOCO? I only caught changes in 2008 and saw alt. fuel (I think that's what I read anyway). And of course can't find it on their site.