Big new tax breaks for hybrid cars

[Kiloran]

CNN.com - Big new tax breaks for hybrid cars
Incomplete but accurate. No mention of AMT, no outside links.

[BertinNC]

Originally posted by Kiloran@Dec 22 2005, 05:06 PM
CNN.com - Big new tax breaks for hybrid cars
Incomplete but accurate.  No mention of AMT, no outside links.

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At first I was about to reply and say "Kiloran, I know you know this is old news why are you posting this from another new article? We all know this already."

BUT then I went and looked to the gallery of cars in the link at the bottom of the article and when you go to the Prius it says:

"The Prius will get the second-largest tax credit of any vehicle. Buyers will get $3,150 off their federal taxes."

Will get, not estimated at or around or to be determined so this IS new news.

Thanks Kiloran!

[Kiloran]

I try to post articles that are new whether the content of the article contains any new information or not. (Most of the articles I've posted have been pretty poorly researched and contain inaccuracies.)

My thinking is that this forum is for posting links to news articles about the Prius and other hybrids and we all want to know what is currently being said in the press.

[nc_driver]

That's great news about the tax credit for 2006. Although I've heard this before, I'm still confused how the government is going to handle the limit of 60,000 Toyota cars that this tax credit will apply to.

Is it just the first 60,000 buyers of a Toyota Prius in the calendar year 2006 who will get the credit? And how do you know you're one of those lucky 60,000? Do you get some kind of certificate or something? And if you bought a hybrid back in 2004, and decide to get another one in 2006, do you qualify?

[Kiloran]

Originally posted by nc_driver@Dec 22 2005, 07:14 PM
That's great news about the tax credit for 2006. Although I've heard this before, I'm still confused how the government is going to handle the limit of 60,000 Toyota cars that this tax credit will apply to.

Is it just the first 60,000 buyers of a Toyota Prius in the calendar year 2006 who will get the credit? And how do you know you're one of those lucky 60,000? Do you get some kind of certificate or something? And if you bought a hybrid back in 2004, and decide to get another one in 2006, do you qualify?

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Yes, you are confused. :P
The full tax credit applies to ALL hybrid vehicles sold by a manufacturer after December 31, 2005 up to the end of the quarter after the quarter in which the manufacturer has sold 60k hybrid vehicles.
Therefore, every qualified hybrid vehicle sold before July 01, 2006 will be eligble for the full credit.
There's good coverage of Government_Incentives in the Toyota_Prius_FAQ.