tax credits for plug in hybrids

Exclusive summary about Tax Credits for Plug in Hybrids by Bond Mejeh

Plug in hybrids do not use gasoline to operate. Plug in hybrid vehicles can cost two or three times more than regular automobiles. Typical tax credits for consumers who purchase plug in hybrids could start at $2,500 and above.

Typical tax credits for consumers who purchase plug in hybrids could start at $2,500 and above.

Plug in hybrids can help to better the environment because they would reduce pollution. If we got people to convert their regular automobiles to plug in hybrids, we would reduce the country's pollution problems. Plug in hybrid vehicles can help to better the environment because of their ability to reduce pollution. If more people purchase plug in hybrids, then we can lessen our need for foreign oil. Tax credits for plug in hybrids is a win-win situation because it will help consumers and automakers.

New Energy Tax Credits for Hybrids

Exclusive summary about Tax Credits for Plug in Hybrids by Levi Quinn

At present, the US Government is running a tax credits scheme, whereby if you buy a hybrid car you will be eligible for a reduction of up to $3,400 in the cost of your income tax.

The first is in terms of timing; if you purchased a hybrid car before December 31st 2005, you will not be eligible for the income tax reduction. If you do have an older hybrid, you may be eligible for a $2,000 so-called "clean fuel" reduction. Returning to the new vehicle purchase, numerous cars and manufacturers are covered. The Toyota Prius ranks the highest in terms of discounts, if bought in 2006 - again, you will need to submit an amended tax return for the time of purchase.