*UPDATED* Florida Sales Taxability of EV Tax Credit

FADA reached out to DOR regarding its position on the proper treatment of the EV credit. When the buyer transfers the credit to you, the dealer, you have two choices according to the federal government: You can treat the credit as a down payment or apply it to the deal as a reduction in the sales price. FADA received a Letter of Technical Advisemen(LTA) from Florida’s DOR that states dealers are to treat the credit as a down payment and NOT as a reduction in sales price. 

You can find additional guidelines in this IRS guide.

2023 Clean Vehicle Sales Reports: IRS Extends Deadline and Changes Submission Method

The IRS has extended the deadline for submitting 2023 Clean Vehicle Sales Reports to February 15, 2024, as opposed to the earlier deadline of January 31, 2024.
Currently, the IRS is only accepting these reports via fax. Dealers who have already submitted their 2023 Clean Vehicle Sales reports do not need to resubmit them.
Dealers who have not yet filed their reports should now send them directly via fax to 855.755.7437 until further notice. FADA will update you with information as we receive it.

EV Tax Credit Registration

Issues with Final Registration and Bank Clearance:
If you are encountering issues with final registration or bank clearance, the IRS likely has to manually verify your information, especially if you are a S-Corporation or Partnership. You’ll be put into a “pending status”. After that, the IRS will contact you by phone or email to begin verifying your information, where you may be expected to provide a voided check. It can take 15 or more days for this process to begin.
Long Wait Times:
Dealers are encouraged to submit this information as soon as possible. Please be aware that because the portal opened a few months ago, the IRS is experiencing a backlog and response times may be delayed. As of now, there is no way to expedite this process. FADA will update you with more information as we receive it.
IRS Registration Help Desk:
Contact [email protected]. This is your go-to address for direct assistance regarding IRS registration issues. However, you should expect a 2 week response time.
Registration Resources: