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Hybrid Tax Credits: Difference between revisions

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The IRS has adopted large tax credits for purchase of new hybrid vehicles.  The credits have a current maximum of $3,150. Note these are credits-- dollar for dollar tax savings-- not merely deductions.  The law that created the credits limits its availability to 60,000 vehicles from each automaker; meaning credits for popular models will be gone before the tax break's scheduled Dec. 31, 2010, expiration date. Full credits for the automaker's remain available for the next calendar quarter following the quarter in which its 60,000th vehicle is sold; for the subsequent two quarters, the incentive is 50 percent of the full amount; for the two quarters after that, it is 25 percent.
The IRS has adopted large tax credits for purchase of new [[Hybrid Cars|hybrid vehicles]].  The credits have a current maximum of $3,150. Note these are credits-- dollar for dollar tax savings-- not merely deductions.  The law that created the credits limits its availability to 60,000 vehicles from each automaker; meaning credits for popular models will be gone before the tax break's scheduled Dec. 31, 2010, expiration date. Full credits for the automaker's remain available for the next calendar quarter following the quarter in which its 60,000th vehicle is sold; for the subsequent two quarters, the incentive is 50 percent of the full amount; for the two quarters after that, it is 25 percent.


Hybrid Tax Credits from lowest to highest:
[[Hybrid Cars|Hybrid]] Tax Credits from lowest to highest:


*2007 Lexus GS 450h, $1,550
* 2005 [[Honda Accord Hybrid]], $650
*2006 Ford Escape Hybrid 4 WD, $1,950  
* 2006 [[Honda Accord Hybrid]] (w/o updated control calibration), $650
*2006 Mercury Mariner Hybrid 4 WD, $1,950  
* 2006 [[Honda Accord Hybrid]] (w/ updated control calibration), $1,300
*2006 Lexus RX400h 2WD, $2,200  
* 2005-06 [[Honda Insight]] CVT, $1,450
*2006 Lexus RX400h 4WD, $2,200  
* 2007 [[Lexus GS 450h]], $1,550
*2006 Toyota Highlander 4WD Hybrid, $2,600  
* 2005 [[Honda Civic Hybrid]] ([[Super Ultra Low Emission Vehicle|SULEV]]) MT & CVT*, $1,700
*2006 Toyota Highlander 2WD Hybrid, $2,600  
* 2006 [[Ford Escape Hybrid]] [[Four Wheel Drive|4WD]], $1,950
*2006 Ford Escape Hybrid Front WD, $2,600  
* 2006 [[Mercury Mariner Hybrid]] [[Four Wheel Drive|4WD]], $1,950
*2007 Toyota Camry Hybrid, $2,600  
* 2006 [[HondaCivic Hybrid]] CVT*, $2,100
*2005 Toyota Prius, $3,150
* 2006 [[Lexus RX400h]] 2WD, $2,200
*2006 Toyota Prius, $3,150
* 2006 [[Lexus RX400h]] [[Four Wheel Drive|4WD]], $2,200
* 2007 [[Toyota Camry Hybrid]], $2,600
* 2006 [[Toyota Highlander Hybrid]] 2WD , $2,600
* 2006 [[Toyota Highlander Hybrid]] [[Four Wheel Drive|4WD]] , $2,600
* 2006 [[Ford Escape Hybrid]] 2WD, $2,600
* 2005-06 [[Toyota Prius]] $3,150

Revision as of 12:04, 22 June 2006

The IRS has adopted large tax credits for purchase of new hybrid vehicles. The credits have a current maximum of $3,150. Note these are credits-- dollar for dollar tax savings-- not merely deductions. The law that created the credits limits its availability to 60,000 vehicles from each automaker; meaning credits for popular models will be gone before the tax break's scheduled Dec. 31, 2010, expiration date. Full credits for the automaker's remain available for the next calendar quarter following the quarter in which its 60,000th vehicle is sold; for the subsequent two quarters, the incentive is 50 percent of the full amount; for the two quarters after that, it is 25 percent.

Hybrid Tax Credits from lowest to highest:

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