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Tax Credit.. just how high can you go?

Discussion in 'Gen 2 Prius Main Forum' started by windstrings, Jan 12, 2006.

  1. windstrings

    windstrings Certified Prius Breeder

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    Central Texas
    Vehicle:
    2010 Prius
    Model:
    IV
    I had the question posed to me in a PM and I wanted to get opnions from others....

    I am buying "two" prius's... so I assume I should get two credits?

    Last year my AMT was "0".. assuming it will be that way again.... as long as I pay in more tax than 3150 X 3 = a total of 6300.00 paid in.. I should get two full credits eh?

    Anyone think of any monkey wrenches for me?
     
    #1 windstrings, Jan 12, 2006
  2. samkusnetz

    samkusnetz New Member

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    i believe the credit only applies to the first hybrid purchased. so, no. just one credit.
     
    #2 samkusnetz, Jan 12, 2006
  3. Kiloran

    Kiloran New Member

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    Nope.
    Sorry, you are incorrect.
    You can get the credit for each qualified hybrid vehicle you purchase.
    The sum of credits you receive will not reduce your taxes below your AMT.

    Windstrings has no monkey wrenches.

    I've read the law and numerous supporting articles.
    If you need, I can provide links.
     
    #3 Kiloran, Jan 12, 2006
  4. jackkpts

    jackkpts New Member

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    I really would appreciate any additional info you have on the AMT and how the tax credit is affected. I may have an issue with AMT in 2006 and I need to figure this out before buying my Prius. Thanks!!
     
    #4 jackkpts, Jan 13, 2006
  5. Kiloran

    Kiloran New Member

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    All the best information has been gathered into the Government_Incentives section of our FAQ including a section about AMT (with links to tools). B)
     
    #5 Kiloran, Jan 13, 2006
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