TAX CREDIT ON HYBRID CARS?
November 10, 2009 in Buying & Selling
Did you know that you can save fuel and run your car on water
Poop D questioned:
Ok, i am compelling into account purchasing a toyota prius…can u get a tax credit when you buy one in view of the fact that its a hybrid? Also, if here is a tax credit does it apply to used ones also?
Thankfulness in advance!
Did you know that you can save fuel and run your car on water
You’re a couple of being too late.
The federal tax credit on hybrid vehicles is tied to the number of hybrids sold by each manufacturer. Toyota reached the limit (sixty thousand) long ago. If you had bought a Prius before October 1st of 2007, you would have been able to get a incomplete credit. Honda reached the limit next; you would have had to buy one of their cars before January 1st of 2009 to get a incomplete credit. And Ford is the most contemporary manufacturer to get to 60,000, so their credit is phasing out now (now at the 50% level).
GM and Nissan are subdue eligible for the full credits.
The tax credit never helpful to used cars, nor leased cars.
Perhaps your state offers a credit; try out with your state tax website.
US (has to be a new hybrid, and not leased, and of fastidious manufacturers):,,id=203122,00.html
individual US states:
of course, if you take state and community sales tax on your 1040 as a substitution for of state and community income taxes, you can aver the sales tax on your vehicle.,,id=152421,00.html
even if you probably can take the sales tax on the vehicle (new only) anyways this year thankfulness to the stimulus plot:,,id=208101,00.html,,id=206633,00.html