Toyota hybrid tax credit takes a hit starting today
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YA RLY.
Joined: Dec 2005
Posts: 610
From: Saginaw, MI
Toyota hybrid tax credit takes a hit starting today
Toyota Motor Corp. is expected to announce today that it has sold 60,000 hybrids this year -- a development that will start reducing a tax incentive to buy the fuel-efficient vehicles.
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Joined: May 2006
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From: Middlesex County, Connecticut
Re: Toyota hybrid tax credit takes a hit starting today
The article is missing a great deal of important information.
The 60K is only a trigger. All Toyota hybrids delivered through the end of this quarter AND the end of the subsequent quarter (through September 30, 2006) will enjoy the full tax credits available. After that it gets cut to 50% for 6 months and then 25% for 6 months before ending completely.
And this is also provided that the current full tax credits are not extended, which has been proposed to Congress by the President.
The 60K is only a trigger. All Toyota hybrids delivered through the end of this quarter AND the end of the subsequent quarter (through September 30, 2006) will enjoy the full tax credits available. After that it gets cut to 50% for 6 months and then 25% for 6 months before ending completely.
And this is also provided that the current full tax credits are not extended, which has been proposed to Congress by the President.
Re: Toyota hybrid tax credit takes a hit starting today
Originally Posted by AnOldHouse
The 60K is only a trigger. All Toyota hybrids delivered through the end of this quarter AND the end of the subsequent quarter (through September 30, 2006) will enjoy the full tax credits available. After that it gets cut to 50% for 6 months and then 25% for 6 months before ending completely.
You are exactly right! I'm glad there are people like you who understand the 60,000 trigger! I hope people get the correct information and realize they still have time to make their purchase and receive the full benefit.
Too bad Toyota/Lexus sales weren't a little slower. It would have been nice if the 60,000th one was sold the first of July.
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