Toyota Hybrid Tax Credit Phase Out | Dlegs Hybrid Cars - News ...

Under the present tax law, the credit for trade a hybrid vehicle begins to stage out throughout the next calendar quarter following the quarter in construct the corporation sells its 60,000th hybrid or lean be on fire skill vehicle.

The credit for all new higher lean be on fire skill motor vehicles or new fit hybrid passenger automobiles or glow trucks manufactured by Toyota Motor Corporation determination begin to stage out on Oct. 1, 2006.

Vehicles purchased preceding to Oct. 1, 2006 qualify for the filled credit. For Toyota hybrid vehicles bought on or following riches 1, 2006, and on or preceding to March 31, 2007, the credit is 50 proportion of the otherwise permissible credit amount. Taxpayers trade vehicles on or following April 1, 2007, and on or preceding to September 30, 2007, can merely get 25 proportion of the credit.

Here are the credit inadequate for Oct. 1, 2006 " March 31, 2007:

* 2005 Prius " $1,575
* 2006 Prius " $1,575
* 2006 Highlander 4WD Hybrid " $1,300
* 2006 Highlander 2WD Hybrid " $1,300
* 2006 Lexus RX400h 2WD " $1,100
* 2006 Lexus RX400h 4WD " $1,100
* 2007 Camry Hybrid " $1,300
* 2007 Lexus GS 450h " $775

Here are the credit inadequate for April 1, 2007 " September 30, 2007:

* 2005 Prius " $787.50
* 2006 Prius " $787.50
* 2006 Highlander 4WD Hybrid " $650
* 2006 Highlander 2WD Hybrid " $650
* 2006 Lexus RX400h 2WD " $550
* 2006 Lexus RX400h 4WD " $550
* 2007 Camry Hybrid " $650
* 2007 Lexus GS 450h " $387.50

Beginning riches 1, 2007, taxpayers who buy a Toyota hybrid lined maintain the connected tax credit.

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