RESOLVED $220 on the regular store and $343.75 on the referral store?

Buffalo Bob · Thursday at 9:26 AM

Hey! If Lucid is going to 1099 us at a value rate of $0.125 per referral point, then why are they only giving us a value rate of $0.08 per referral point for the adapter? They are already expensive at $220 each. Why not charge us 1,760 points instead of 2,750? (2,750 x $0.125 tax rate = $343.75)

Murcie · Thursday at 9:42 AM

Buffalo Bob said:
Hey! If Lucid is going to 1099 us at a value rate of $0.125 per referral point, then why are they only giving us a value rate of $0.08 per referral point for the adapter? They are already expensive at $220 each. Why not charge us 1,760 points instead of 2,750? (2,750 x $0.125 tax rate = $343.75)

I agree, this is ridiculous. Even after including shipping ($6.99) and the highest sales tax in the US (10%), the total is $249, which is still ~$100 cheaper than the referral store.

sri · Thursday at 9:46 AM

Murcie said:
I agree, this is ridiculous. Even after including shipping ($6.99) and the highest sales tax in the US (10%), the total is $249, which is still ~$100 cheaper than the referral store.

One way of devaluing the point's which i have pointed out before and i was called saying you are not paying since its free points

Technically even with point your out of pocket is $100 with 1099.

Murcie · Thursday at 11:37 AM

sri said:
One way of devaluing the point's which i have pointed out before and i was called saying you are not paying since its free points
Technically even with point your out of pocket is $100 with 1099.

It’s not considered devaluating if they’re sending us 1099’s with $0.125/point value, this is now considered income and we’ll be paying taxes based on that.
Unless they decide to change this ridiculous $0.125/point value for this year’s 1099, it’s unfortunate how they’re over estimating the cost of this adaptor being ~$350

Bobby · Thursday at 12:03 PM

Murcie said:
It’s not considered devaluating if they’re sending us 1099’s with $0.125/point value, this is now considered income and we’ll be paying taxes based on that.
Unless they decide to change this ridiculous $0.125/point value for this year’s 1099, it’s unfortunate how they’re over estimating the cost of this adaptor being ~$350

Only above $600 value.

Murcie · Thursday at 12:05 PM

Bobby said:
Only above $600 value.

Yup that’s another constraint, basically making this the only reward we’re getting this year lol

Murcie · Thursday at 12:19 PM

Btw the above calculations don’t include sales tax, so it’s more like $370 for this adapter

sri · Thursday at 2:35 PM

Murcie said:
Btw the above calculations don’t include sales tax, so it’s more like $370 for this adapter View attachment 31004

Yes which in turn is reducing the value of our reward points. Also a 1099 if you are over $600 in purchases and most of us meet that. Since we only have 2 years to use the rewards

Murcie · Thursday at 2:58 PM

sri said:
Yes which in turn is reducing the value of our reward points. Also a 1099 if you are over $600 in purchases and most of us meet that. Since we only have 2 years to use the rewards

Right, I forgot about the 2-year expiry.
Btw is everyone’s referrals page down? Or is it just me because of my criticism above? lol

Buffalo Bob · Thursday at 3:10 PM

Murcie said:
Btw is everyone’s referrals page down? Or is it just me because of my criticism above? lol

If the referral store looks like it won't open, but you can see the three or four little horizontal lines in the upper left corner, then click on them. That will take you into the various purchase categories, which will in turn allow you into the referral store.

sri · Thursday at 3:12 PM

Murcie said:
Right, I forgot about the 2-year expiry.
Btw is everyone’s referrals page down? Or is it just me because of my criticism above? lol

It seems the default page was down.

Murcie · Thursday at 3:36 PM

sri said:
It seems the default page was down.

Yeah it’s working now. It’s funny how it always goes down right after I criticize it here in the forum lol

L-Dude · Thursday at 3:36 PM

Murcie said:
Right, I forgot about the 2-year expiry.
Btw is everyone’s referrals page down? Or is it just me because of my criticism above? lol

You're in the penalty box, Murcie!

fadooly · Thursday at 4:40 PM

You guys lucky to have reward program

In Saudi we got nothing

Not mention your leasing and financing offers are really great

Lucid is cheaper for cash customer in US than Saudi

Hhh you guys get 2 years of free charging electrify America

We do have free charging in Saudi but it is not official and they are offered by independent companies to get people using electric cars so they can charge us whenever they can

GravityGTAirGTVA · Thursday at 5:22 PM

At least you get to participate in the referral program. It is not allowed in Virginia. I’ve referred numerous customers to Lucid over the past three years.

Bobby · Thursday at 5:41 PM

Hi, for one, I’m getting a little sick of all the complaining about this reward store taxation. The out-of-pocket expense is still a fraction of buying the item retail.

Buffalo Bob · Thursday at 6:05 PM

Bobby said:
Hi, for one, I’m getting a little sick of all the complaining about this reward store taxation. The out-of-pocket expense is still a fraction of buying the item retail.

Please stick with the OP's topic, @Bobby. I have no issue whatsoever with paying tax on my referral points, but it makes absolutely no sense that Lucid disassociates the tax rate with the redemption rate. If you are going to tax us at an assumed $0.125 per point rate, then do the $$$ to point conversion at the same rate.

The even more comical thing is that many companies test the IRS by trying to do the exact opposite of what Lucid is doing. By that, I mean giving the reward buyers an even better conversion rate than the tax rate.

In order to be fair, there is one other thing to note... A few items on the referral store do have an more favorable conversion rate than the $0.125 tax rate, although most are worse. My argument is that the tax and conversion rates should be consistently applied in ALL cases.

Do you agree with my position, or not?

L-Dude · Thursday at 6:18 PM

Bobby said:
Hi, for one, I’m getting a little sick of all the complaining about this reward store taxation. The out-of-pocket expense is still a fraction of buying the item retail.

Yeah I paid $227. Instead of bitching, perhaps you should be happy you got a huge discount.

Buffalo Bob · Thursday at 6:35 PM

Geez... Try to get a specific answer to a specific question...

sri · Thursday at 7:42 PM

Bobby said:
Hi, for one, I’m getting a little sick of all the complaining about this reward store taxation. The out-of-pocket expense is still a fraction of buying the item retail.

Can you explain how its a fraction with 1099 it is coming near $100 in value so it’s a fraction of $220 from your terms?
We are trying to understand the value estimate of the points and why it is not matched to the cash value?

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RESOLVED $220 on the regular store and $343.75 on the referral store?

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