Just filed my first "Prius" tax return

It isn't the only reason to buy a Prius in Oregon, but it helps that I got a $1,500 tax credit for each of the two Priuses the family purchased last year. I took title to the first one last November, sold it a month later for a $2,500 profit, bought another and titled it in my wife's name. Oregon has no sales tax, and annual title & license fees are ~$30 (since doubled for '04).

On top of the $2,000 Federal deduction, it brings the net cost after tax for each Prius into Corolla territory for a much better vehicle, IMHO. Factor in resale profit, and it gets closer to an Echo.

I'll be doing the same thing this Fall, but with Camry HSD's instead. The Oregon credit continues for the '04 CY at least and the Camry (and Highlander HSD) will be added to the eligible vehicle list around Sep/Oct. Another interesting feature is the Oregon Pass-Through option. It allows an eligible vehicle owner to sell the credit to anyone else. That could be handy if you don't need the credit or would like cash instead.

If you're in Oregon and haven't filed or forgot, you can submit an automatic extension of time or an amended return if you filed without the certificate. The .pdf certificate application form is available from the site below. If you resell the credit, the recipient can file an amended return up to three years from their filing date.

Ka-ching! :wink:

http://www.energy.state.or.us/trans/hybridcr.htm