Here is a list of the tax credits offered by the IRS: * 2005 Toyota Prius – $3,150 * 2006 Toyota Prius – $3,150 * 2006 Toyota Highlander 4WD Hybrid – $2,600 * 2006 Toyota Highlander 2WD Hybrid – $2,600 * 2007 Lexus GS 450h – $1,550 * 2007 Toyota Camry Hybrid $ 2,600 * 2006 Lexus RX400h 2WD – $2,200 * 2006 Lexus RX400h 4WD – $2,200 * 2006 Ford Escape Hybrid Front WD – $2,600 * 2006 Ford Escape Hybrid 4 WD – $1,950 * 2006 Mercury Mariner Hybrid 4 WD – $1,950 * 2005 Honda Insight CVT – $1,450 * 2006 Honda Insight CVT – $1,450 * 2005 Honda Civic Hybrid MT and CVT – $1,700 * 2006 Honda Civic Hybrid CVT – $2,100 * 2005 Honda Accord Hybrid AT and […]
Tuesday, June 13th, 2006
Tax Credits From the IRS for Hybrids
Stephan: Here is the tax credit list from the IRS that accrues to those who purchase hybrids. You should also check with your local state credits as some are offering a rebate as well. South Carolina is offering a 20% of the federal tax credit for state taxes. There is also a time limit offering for the full tax credit. When the manufacturer reaches the 60,000th vehicle sale, at the end of that quarter, will end the full tax credit with the IRS. After the second and third calendar quarters the tax credit is only allowed a 50 percent credit. The fourth and fifth calendar quarters the tax credit is only 25 percent credit. There will be no further credit after the fifth quarter when the program is phased out.
