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Tax Credit Phase Out

Discussion in 'Prius Tax Credit Discussion' started by gpb5200, Mar 4, 2007.

  1. gpb5200

    gpb5200 New Member

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    Why is the tax credit phasing out for Toyota and Lexus models, but from what I can gather on the chart, not other makes and models? Either way, phasing it out makes no sense to me, especially since Dubya is all about tax relief. Oh, wait, I'm not rich enough for permanent tax relief.
    Anyone have answers?
     
    #1 gpb5200, Mar 4, 2007
  2. Renocat

    Renocat Member

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    The phase out is based on the number of cars sold. Toyota reached their "quota" and the tax credit was cut in half in October.
     
    #2 Renocat, Mar 4, 2007
  3. JimN

    JimN Let the games begin!

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    <div class='quotetop'>QUOTE(gpb5200 @ Mar 4 2007, 09:20 AM) [snapback]399869[/snapback]</div>
    The credits for every manufacturer work the same way. 100% of the credit is in effect through the quarter after 60,000 units are sold. The credit is then cut in half six months later, then half again in another six months. I have a link to the IRS schedule.
     
    #3 JimN, Mar 4, 2007
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