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EESA Tax Credit
GEM e2 Model___________________Cost
GEM e2 Base Model MSRP______$7,395
Less Tax Credit______________($3,751)
Adjusted Cost________________$3,644*
*Excluding tax, title, license, and destination costs. Pricing may change at any time without notification. This example reflects the highest possible Section 30D tax credit benefit for this particular model. Some taxpayers will not realize the maximum tax benefit.
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Save Green, Drive Green: Receive the EESA Tax Credit on Your New GEM Car Purchased in 2009!
If You Purchased a New GEM Car in 2009, it May Qualify for the EESA Tax Credit.
The Emergency Economic Stabilization Act (EESA) allowed new GEM battery-electric vehicles purchased in 2009 to be eligible for the Qualified Plug-In Electric Drive Motor Vehicle Credit under Internal Revenue Code 30D.
GEM cars meet all qualifications of this credit by being a "vehicle that has at least four-wheels and draws propulsion using a rechargeable traction battery with at least four kilowatt hours of capacity."
Please note that you should talk with your tax advisor for guidance regarding your specific tax situation and to determine to what extent you will benefit from this tax credit.
What GEM car models qualify for the EESA tax credit?
The tax credit is available on all GEM car models if they meet the following two criteria:
1. The GEM cars must be 2007, 2008, or 2009 model year GEM cars, AND
2. The GEM cars must have been purchased from January 1, 2009 through December 31, 2009
How much can I save on my GEM car through the EESA tax credit?
The EESA tax credit offers the following credit amounts:
GEM e2 - $3,751.00
GEM e4 - $3,751.00
GEM e6 - $3,751.00 (with 12-volt batteries)
GEM e6 - $5,002.00 (with 8-volt batteries)
GEM eS - $3,751.00
GEM eL - $3,751.00
GEM eL XD - $5,002.00
What paperwork do I need to complete to receive the EESA tax credit?
The IRS is developing the new Form 8936 Qualified Plug-In Electric Drive Motor Vehicle Credit that will be available later in the year and will be posted in this web site, www.gemcar.com/taxcredit. This form will need to be included in your Federal Tax Return that covers the date you purchased the associated GEM car.
Where can I go to find more information on the EESA tax credit?
For more information on this tax credit, please contact your nearest authorized GEM dealership or e-mail us at customer@gemcar.com.
You may also find valuable information in the EESA Tax Credit and ARRA Tax Credit Frequently Asked Questions.
Click here to view a copy of the IRS Certification Letter, and be sure to also visit the IRS web site for additional details!
U.S. Treasury Circular 230 Notice: Any tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, for the purpose of (a) avoiding penalties that may be imposed under the Internal Revenue Code or by any other applicable tax authority; or (b) promoting, marketing or recommending to another party any tax-related matter addressed herein. We provide this disclosure to assure compliance with new standards of professional practice, pursuant to which certain tax advice must satisfy requirements as to form and substance.
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