Did you know there is a provision in the American Recovery and Reinvestment Act of 2009 for electric car conversions?
Conversion Kits (Section 1143): The new law also provided a tax credit for plug-in electric drive conversion kits. The credit is equal to 10 percent of the cost of converting a vehicle to a qualified plug-in electric drive motor vehicle and placed in service after Feb. 17, 2009. The maximum amount of the credit is $4,000. The credit does not apply to conversions made after Dec. 31, 2011.
At 10%, it could save you $1,000 to $2,000 off the price of a converted EV Miata!
To learn more, go to http://www.irs.gov/newsroom/article/0,,id=206871,00.html, or talk to your tax consultant.
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