South Carolina residents can save big on the purchase of a new Chevrolet Volt by combining a federal tax credit from $0 up to $7,5002 with a South Carolina state income tax credit of up to $1,999.3
HERE’S HOW:
STEP 1:
Go to fueleconomy.gov/feg/taxphevb.shtml to determine your eligibility for the federal tax credit2 and download the appropriate tax form (Form 8936 if the Volt is for personal use or Form 3800 if it’s for business purposes).
STEP 2:
Click Here to learn the details on the state income tax credit, including eligibility. Visit sctax.org/Forms+and+Instructions/2011/taxCredits/default.htm to download the tax credit application form (TC-48A).
STEP 3:
Submit your completed paperwork to the appropriate sources and enjoy your new Volt!
*Each individual’s tax situation is unique. Consult your tax professional prior to claiming any credits to confirm the vehicle tax benefits for which you may be eligible. Must be applied by the owner after the purchase of a new Chevrolet Volt. 2 Available for purchase only. $0–$7,500 depending on your federal tax liability. 3 The state income tax credit is $1,999. Available for in-state purchase or lease of a new Volt during the tax years of 2012 through 2016. This state tax credit is not refundable, but may be carried forward for five years. Limited funding for each calendar year, available on a first-come, first-served basis. See state web site (step 2 above) for details. The federal tax credit and South Carolina income tax credit are government incentives and are not administered by General Motors. The Chevrolet Volt is available to order at participating Chevrolet dealers. Quantities are limited. Information accurate as of 8/23/12. Contact the proper agencies/authorities with questions.
