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Tax deductions for purchasing new Prius ?

Discussion in 'Gen 2 Prius Main Forum' started by bluedogpoker, Mar 17, 2005.

  1. bluedogpoker

    bluedogpoker New Member

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    I believe there are state and/or tax credits or deductions for purchasing a new Prius. Anyone have a line on that?
     
    #1 bluedogpoker, Mar 17, 2005
  2. Harper

    Harper New Member

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    Location:
    Fountain Valley, Ca.
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    2005 Prius
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    I know that here, in California, you get a $2,000 tax credit for the year the vehicle was purchased. So, for example, if you bought your Prius in 2005, you will NOT be able to recieve your tax credit until you do your taxes NEXT year for the year 2005. If anyone buys a Prius after 2005, all they will get is a $500 tax credit, so hurry and buy them now!
     
    #2 Harper, Mar 17, 2005
  3. bluedogpoker

    bluedogpoker New Member

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    Thanks for your reply on the California deduction. That is exactly the one I was interested in. After I wrote the question, I googled and found the FEDERAL deduction information at www.bankrate.com but when I went to California Franchise Tax Board site they said nothing about such a deduction. If you have a link to anything that pins down the California situation, please pass it along. Bought this vehicle not even knowing there was an income tax upside! Wow!
     
    #3 bluedogpoker, Mar 17, 2005
  4. Harper

    Harper New Member

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    Location:
    Fountain Valley, Ca.
    Vehicle:
    2005 Prius
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    N/A
    Yeah, you are correct in finding that there is NOT a State of California tax deduction. I should have stipulated that it IS a Federal tax incentive. Sorry about any confusion....
     
    #4 Harper, Mar 17, 2005
  5. xevious

    xevious New Member

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    There is a $2000 federal clean-burning fuel vehicle DEDUCTION. State incentives vary; Oregon offers a $1500 CREDIT, Colorado has a sizable deduction. Check with your local department of energy and revenue service for more details.
     
    #5 xevious, Mar 17, 2005
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