Terra Inventions Corp. (fka TERX)

[Ask_Kingsly]

With rising oil prices year over year, electric cars are clearly the future. Governments are turning away from fossil fuels and LMCO is one of the many companies battling this problem. Tax breaks will also further encourage consumers to switch to electric vehicles with tax breaks. The U.S Department of Energy states a current tax break for electric vehicle as follows:

Plug-In Electric Vehicles
The Recovery Act modifies the credit for qualified plug-in electric drive vehicles purchased after Dec. 31, 2009. The minimum amount of the credit for qualified plug-in electric drive vehicles is $2,500 and the credit tops out at $7,500, depending on the battery capacity. To qualify, vehicles must be newly purchased, have four or more wheels, have a gross vehicle weight rating of less than 14,000 lbs, and draw propulsion using a battery with at least four kilowatt hours that can be recharged from an external source of electricity. The full amount of the credit will be reduced with respect to a manufacturer's vehicles after the manufacturer has sold at least 200,000 vehicles. The credit will then phase out over a year.