2007 and tax credit

[azzieo]

Multiple posts mention the tax credit or half of it in relation to the 2007 .... but here it shows that only 2006 is included.

Could someone clarify? Thx!

[strongp]

<div class='quotetop'>QUOTE(azzieo @ Aug 17 2006, 09:58 AM) [snapback]304680[/snapback]</div>

Multiple posts mention the tax credit or half of it in relation to the 2007 .... but here it shows that only 2006 is included.

Could someone clarify? Thx!
[/b]

From the Toyota Website: The full tax credit will be available for purchases completed through the calendar quarter following the quarter in which the manufacturer reaches cumulative sales of 60,000 hybrid vehicles. ... Because the 60,000 sales mark was reached in May 2006, hybrid vehicles purchased for the remainder of that calendar quarter (i.e., through June 30, in this case) and the following quarter (July through September) are also eligible for 100 percent of the credit. In the two subsequent two-quarter periods, there is no limit to the number of buyers who can respectively be eligible for 50 percent and 25 percent of the credit. Finally, after the fifth quarter following the quarter in which the manufacturer reaches cumulative sales of 60,000 hybrids, the tax credit expires for that manufacturer and its customers.


So 100% of the credit (Prius=3150) for cars purchased through September 06.
50% of the credit (Prius =1575) for cars purchased October 06 through March 07.
25% of the credit (Prius = 788) for cars purchased April 07 through September 07.
No credit thereafter.

[azzieo]

<div class='quotetop'>QUOTE(Strong @ Aug 17 2006, 11:34 AM) [snapback]304701[/snapback]</div>

From the Toyota Website: The full tax credit will be available for purchases completed through the calendar quarter following the quarter in which the manufacturer reaches cumulative sales of 60,000 hybrid vehicles. ... Because the 60,000 sales mark was reached in May 2006, hybrid vehicles purchased for the remainder of that calendar quarter (i.e., through June 30, in this case) and the following quarter (July through September) are also eligible for 100 percent of the credit. In the two subsequent two-quarter periods, there is no limit to the number of buyers who can respectively be eligible for 50 percent and 25 percent of the credit. Finally, after the fifth quarter following the quarter in which the manufacturer reaches cumulative sales of 60,000 hybrids, the tax credit expires for that manufacturer and its customers.
So 100% of the credit (Prius=3150) for cars purchased through September 06.
50% of the credit (Prius =1575) for cars purchased October 06 through March 07.
25% of the credit (Prius = 788) for cars purchased April 07 through September 07.
No credit thereafter.
[/b]

That's understood, but IRS says only 2007 Camry is certified for the credit... and the statement from Toyota doesn't specify models and years. Is there a presumption that once 2007 hits the market IRS will adjust their list with certified cars?

[M. Oiseau]

<div class='quotetop'>QUOTE(azzieo @ Aug 17 2006, 12:17 PM) [snapback]304735[/snapback]</div>

That's understood, but IRS says only 2007 Camry is certified for the credit... and the statement from Toyota doesn't specify models and years. Is there a presumption that once 2007 hits the market IRS will adjust their list with certified cars?
[/b]

Yes, there is a presumption, but no guarantee. Current legislation that includes extending the hybrid tax credit may address it (see this thread).