HCH Tax Credit
#1
HCH Tax Credit
I know there is a tex credit on the HCH, until Honda has sold over 60k of the cars. Does anyone know how many Honda has sold so far? Does anyone have any estimation when Honda will reach that number?
#2
Re: HCH Tax Credit
http://www.irs.gov/newsroom/article/...173469,00.html
As of June 30, 2007, 58,872.
Original purchasers of these vehicles may claim the full amount of the credit up to the end of the first calendar quarter after the quarter in which the manufacturer records its sale of the 60,000th vehicle.
So .. after the end of the year, the credit will be halved, halved again in July, and zippo starting in '09.
As of June 30, 2007, 58,872.
Original purchasers of these vehicles may claim the full amount of the credit up to the end of the first calendar quarter after the quarter in which the manufacturer records its sale of the 60,000th vehicle.
So .. after the end of the year, the credit will be halved, halved again in July, and zippo starting in '09.
#3
Re: HCH Tax Credit
Thanks for the website!
"Original purchasers of these vehicles may claim the full amount of the credit up to the end of the first calendar quarter after the quarter in which the manufacturer records its sale of the 60,000th vehicle.For the second and third calendar quarters after the quarter in which the 60,000th vehicle is sold, taxpayers may claim 50 percent of the credit."
So if Honda sells their 60k HCH by January, there will still be three more months of the $2,100 credit? And if they already have sold 60k by now, then in the winter months there will still be the full $2,100 credit, and then 50% of the $2,100 credit can be claimed by the time we are in the spring months.
Right?
"Original purchasers of these vehicles may claim the full amount of the credit up to the end of the first calendar quarter after the quarter in which the manufacturer records its sale of the 60,000th vehicle.For the second and third calendar quarters after the quarter in which the 60,000th vehicle is sold, taxpayers may claim 50 percent of the credit."
So if Honda sells their 60k HCH by January, there will still be three more months of the $2,100 credit? And if they already have sold 60k by now, then in the winter months there will still be the full $2,100 credit, and then 50% of the $2,100 credit can be claimed by the time we are in the spring months.
Right?
#4
Re: HCH Tax Credit
I imagine that Honda sold more than 1228 hybrids during the July-September quarter. If so the "first calendar quarter after the quarter in which the manufacturer records the sales of the 60,000th vehicle" is the quarter we are in, Oct-Dec 07, making this the last quarter the full refund.
#5
Re: HCH Tax Credit
Okay, 58,000+ were sold by June 30, 2007 and at a rate of about 2,250 HCHs a month (http://www.hybridcars.com/market-dashboard.html) the HCH outdid its limit this summer. So that means for this quarter we have a full tax credit of $2,100, but by the next quarter half, and the quarter after that half, and then zero.