Also important to note that some have done the calculation and have owed taxes at the same level as just having bought the item. It's about $0.125 per point in taxes.
Thread 'Docusign tax related received from Lucid'
https://lucidowners.com/threads/docusign-tax-related-received-from-lucid.11077/
Hang on, that's not accurate. The points are valued at $0.125, but that is not what you owe in taxes.
So, for example, the Lucid LCHCS is $1200 in the Lucid store, or 8900 points in the rewards store.
Since points are valued at $0.125, that means those 8900 points are valued at $1,112.50, and thus the points are actually slightly cheaper than cash, though I'm sure that's not intentional, and is just that way so that 10k points can get you an LCHCS.
But, and this is the important part: you do not owe $1,112.50 on your taxes; you owe whatever your income tax percentage is of that. So even if you're in the
highest federal bracket of 37% and make over $609,351, you'd owe $
411.63 plus whatever you owe for state tax, which varies.
That means you got the EVSE for like $400-500
in the absolute worst case, which is
still way better than paying full price.
Same would hold true for all the other items in the store. The other posters were complaining that they wouldn't have bought the items at those prices in the first place, which is a different conversation entirely; whether you (the proverbial you) think the items are worth their price is not related to how the math works for points.
