What type of tax rebate do you get if you buy a hybrid?

Dorethea Beaston: The hybrid tax credit was signed into law with the Energy Policy Act of 2005. The hybrid or alternative fueled vehicle has to have been purchased (or financed) new, and not used or previously owned. They cannot be leased (the leasing company is the owner so they get the credit, not you). Also, they have to be predominantly used in the US.How much of a US Federal Income tax credit you'll get will depend on what model of hybrid you purchased, and the date of the purchase.See:http://www.irs.gov/businesses/corporations/article...http://www.irs.gov/newsroom/article/0,,id=157557,0...http://www.irs.gov/newsroom/article/0,,id=157632,0...http://www.fueleconomy.gov/feg/tax_hybrid.shtmlUnfortunately, there was a sunset provision written in for the tax credit, which phases out the credit over the calendar quarters once a manufacturer has sold more than 60,000 hybrids since Jan. 1, 2006. Both Toyota and Honda have reached this milestone, and therefore the credit has! expired for both manufactures. Even still, the Toyota Prius (MSRP $22,000) and the Honda Civic Hybrid (MSRP $23,650) are still the least expensive new hybrid cars on the market (ahead of the Chevy Malibu Hybrid (MSRP $26,225 - $1550 credit = $24,675) and the Nissan Altima Hybrid (MSRP $26,650 - $2350 credit = $24,300).There is a letter-writing campaign to remove the sunset/phaseout provision on the hybrid vehicle tax credit: https://secure3.convio.net/ucs/site/Advocacy?cmd=d...The credit amount may be reduced or not available if you are hit with AMT (alternate minimum tax)!Your individual state may also offer state tax credits or deductions as well, so you should also check in with your individual state.http://www.eere.energy.gov/afdc/progs/tech_matrx.p...http://go.ucsusa.org/hybridcenter/incentives.cfm...Show more

Oswaldo Rayburn: the only theory the democrats can arise with is to punish oil companies with greater taxes or to get rid of tax breaks. companies will ! in undemanding terms bypass those expenses onto the patron. Wh! o loses? undesirable and center classification individuals. Politicians are going to transform motor vehicle pool lanes in Southern California into toll lanes. yet another customer based punishment while attempting to get to artwork or abode. Why? so they might get greater federal tax funds they might use on some thing different than transportation. a pair of years in the past you are able to desire to get a sticky label that allowed you topersistent interior the motor vehicle pool lane, yet in undemanding terms some have been given them. a lot of human beings went out and offered hybrids fullyyt for this purpose. They discontinued this gadget so the inducement is long previous. they're advertising the used automobiles with those stickers for over $3000 greater only by using fact they have the sticky label. the main suitable issues to do could be to get rid of our want for distant places oil. start up drilling right here, discover different sources of power, option fuels, a! nd confident automobiles that use much less....Show more