The tax credit for the Toyota hybrids has expired and I am looking into buying one and I could not find out if Congress is going to offerer another credit or dedection.
2007-10-22 06:35:25 · 3 answers · asked by Jeriod T 2 in Business & Finance ➔ Taxes ➔ United States
http://www.irs.gov/newsroom/article/0,,id=157557,00.html
http://www.toyota.com/prius/tax.html
The US Federal income tax credit for Toyota hybrids ran out for vehicles purchased on/after Oct. 1, 2007. Amount for purchases of New (not used, nor leased) Toyota Prius before that date can be found at the above links. (The IRS hasn't yet certified the amount for the 2008 Prius purchased before Oct. 1, 2007, as of my typing...)
It's always possible that Congress may decide to extend the credit, implement a new one, or implement a new tax deduction... But I haven't heard any rumblings about such yet. :(
Depending on where you live, you may qualify for a state income tax credit or deduction, or reduced sales tax, though.
http://autos.groups.yahoo.com/group/toyota-prius/links/Financial_000963256550/
2007-10-22 10:12:02 · answer #1 · answered by mrvadeboncoeur 7 · 2⤊ 0⤋
No, the credits for virtually all Toyotas have been long since used up. Unless Congress passes new legislation, don't expect any more on Toyotas.
2007-10-22 08:17:48 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 0⤋
Anything can happen, but there doesn't seem to be anything in the wind, so probably not.
2007-10-22 06:43:28 · answer #3 · answered by Judy 7 · 0⤊ 0⤋