2006 Tax Credit for Hybrid Vehicles May Not Last as Long as Most People Think 1/24/2006

Buy now to get your Tax Credit of up to $3,400 for purchasing a certified fuel-efficient vehicle.   The tax credit for hybrid vehicles, which was enacted by the Energy Policy Act of 2005, can equal $3,400 for buyers of the most fuel-efficient vehicles. But since taxpayers can claim the full amount of the allowable credit only up to the end of the first calendar quarter after the quarter the manufacturer sells the 60,000th hybrid and lean-burn vehicle, those seeking the credit may want to buy early in the year.

These articles are intended to provide resources for the tax and accounting needs of small businesses and individuals. The information contained in this Website is intended to provide general information on matters of interest in the areas of tax and accounting and should not be acted upon in your specific situation without further details and/or professional assistance.   Users are encouraged to contact us regarding specific situations.

 

 

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