[vegas1]

I wonder about perks for owing and driving a Prius after reading posts by a couple of members about free parking in San Jose, CA, especially local or little-known perks.

We all know about the federal tax deduction, $2000 for 2004 and $1500 for 2005.

State tax varies, may be we can collect some info here. I read that Maryland has a tax credit (full credit) of $1500, and NY proposed a tax credit of $2000. Colorado apparently has a $3000 tax credit.

NY also proposed a sales tax exemption for $3000 of the price.

Many states including CA have passed laws allowing the use of the HOV lane.

San Jose and Fresno in CA have free parking at meters and city parking buildings. Los Angeles apparently is considering the same, may be for LAX airport also.

How about your local situation?

 

[wombatua]

Correct me if I'm wrong, but isn't the U.S. federal tax credit $1,500 off of your income for delivery of a hybrid in calendar 2004, falling to a $1,000 credit in calendar year 2005 (not model year or fiscal year...). :?:

 

[deh2k]

That's a $2000 US federal tax deduction if you buy it in 2003, $1500 for 2004, ...

 

[vegas1]

Sorry, you both are correct. $2000 in 2003, $1500 in 2004, $1000 in 2005, and $500 in 2006.

 

[Bob Allen]

Sorry, you both are correct. $2000 in 2003, $1500 in 2004, $1000 in 2005, and $500 in 2006.

That's a deduction from your posted income, not the amount you get back. A 1500 buck deduction from your income translates to about a 300 buck reduction in your tax bill.

 

[LouieNet]

Many states including CA have passed laws allowing the use of the HOV lane.

Close. I don't think our Governator has signed the bill just yet. I'll probably order a FasTrak transponder as soon as I get my license plates so I can be ready to apply for the permit/sticker. (Read the bill carefully if any of you live in the SF Bay Area. Or at least look at point #11 in the analysis)

Sorry, you both are correct. $2000 in 2003, $1500 in 2004, $1000 in 2005, and $500 in 2006.

And by "in 2004", vegas1 means the Federal tax deduction is for the year that you take ownership of the car. So in 2004, you could be taking ownership of a 2005 model, and still qualify for the $1500 Fed tax deduction.

IRS doc: 2004 Toyota Prius Certified for Clean-Burning Fuel Deduction

Louie

P.S. Good idea on asking the question, vegas1. I was also wondering what kind of government or commercial perks are available at home and elsewhere for Prius owners.

P.P.S. By the way, there is a place where you can get a discount on the Toyota Extra Care Platinum warranty.

 

[rmm20]

This Transponder requirement still sucks. As near as I can tell,
I am required to pre-pay $40 in bridge tolls that I will never use.
Transponder deposit is free if I use a credit card.
Net result is I am paying $40 to use the carpool lane.
No word yet on what they will charge us for Hybrid stickers.

Robert

 

[ehurtley]

Well, in Oregon, the large-truck-driving-farmer lobby had convinced the DMV to add a surcharge to register Hybrid or electric vehicles, but it was recently repealed. The stated reasoning for the surcharge is that hybrid and electric vehicles pay less (or no) taxes at the gas pump, so they need to pay more up front to make up for it. Bogus, to me, since hybrids are designed to be lower-impact, so they hurt the roads proportionately less than their improved mileage alone would attest to. Maybe for pure 'converted' hybrids such as the Civic and Escape, I could understand, but not for 'original' hybrids such as the Insight and Prius. For electric vehicles, I can kind of understand, since they would pay no road taxes. (Oregon's road maintenance budget comes solely from the gas tax.)

Ironically, electric or hybrid MOTORCYCLES get a $3.00/2-year price break. Very odd.

Edit: Apparently a 50% surcharge is still in effect for any vehicle OTHER THAN a passenger car/truck/van or motorcycle. (So it still applies to farm trucks, fleet vehicles, motor homes, and all other classes of vehicle that could be hybrid or electric.) The old surcharge DOUBLED the cost of registering a Hybrid vehicle, from the regular $30 to the hybrid $60 (each per 2 years.) Now all passenger vehicles are $54 per 2 years. Motorcycles had been $9 for conventional, $30 for hybrid, now they are $30 for conventional, $27 for hybrid.

 

[mycroft]

Oregon driver perks...

I wonder whether my dealer has a special contract with the Oregon DMV, or whether this happens for everybody now...

When I picked up my Prius last month, I immediately got a permanent plate; no more temporary stickers; then waiting for a plate to be mailed. Also, the registration was good for 4 years (till 8/2008; the fee was of course twice the normal 2 year fee).

Also, Oregon supposedly has a 1500 credit for hybrids (in addition to the federal 1500 deduction). You've got to send in a special form to the Oregon Dept. of Energy first. The form looks a bit strange (it's apparently used for some other situations) but I'll try to send it in soon.

 

[vegas1]

For CA, even after Arnold signs the bill into law, it still needs to be ok'ed by the feds, we're probably looking at 1st of 2005 implementation.

 

[ehurtley]

Hrm. I never got the Oregon form. If you could send me a link, I'd appreciate it.

As for your plates? If you just want standard plates, most dealers can give them to you on-the-spot now. And all new cars now qualify for 4-year registration. (As do some used cars that are being re-licensed.)

 

[RSR100]

Here in Connecticut I was all ready to pay 6% sales tax... when at
DMV they told me that CT has NO sales tax on hybirds!
Saved over $1500. !!!

 

[LouieNet]

This Transponder requirement still sucks. As near as I can tell,
I am required to pre-pay $40 in bridge tolls that I will never use.
Transponder deposit is free if I use a credit card.
Net result is I am paying $40 to use the carpool lane.
No word yet on what they will charge us for Hybrid stickers.

Hi Robert,

At least you get your money back if you don't spend it crossing SF Bay toll bridges during non-commute hours. But I believe you would get to go free on the state bridges (and discounted for Golden Gate) during commute hours. So the $40 is more like a checking account that doesn't draw interest.

Here in Connecticut I was all ready to pay 6% sales tax... when at
DMV they told me that CT has NO sales tax on hybirds!
Saved over $1500. !!!

Woo! Now that would be cool if Calif did that, except that Calif needs every dime it can take in. Hear about the big garage sale in Sacramento?

Louie

P.S. I still think that full time grade school and high school educators shouldn't have to pay income tax.

 

[enoki]

why stop with teachers?
why not add all military servicemen? and all government workers? and firemen and policemen?
or lets not tax the entrepreneurs, since if they aren't taxed, they will have that much more to plow back into the business, and stimulate the economy.
heck, nursing is a noble profession, lets include all nurses. or preschool or daycare workers.
lets exempt entertainers. they are performing a service, and make us forget our worries, if only for a short period of time.
i know. lets not tax anyone, because then everyone will be able to spend an additional 15-40 percent (federal and state taxes amounts) back into the economy, and get the economy really revving.
where are you going to draw the line at people who shouldn't have to pay tax?

sorry, everyone should pay for the services that are paid for by taxes. taxes already aren't fair for everyone. i have relatives, friends and coworkers who all feel that they are getting the shaft from the tax system, each for a different reason. one is unmarried, with no kids, so feels that the tax system is unfair to those without spouses and kids. another feels that they are getting hit with the marriage penalty, since both spouses work, but they don't have kids. the rest feel the poor me syndrome because kids are expensive, and they barely get anything from the government to help them care for the kids.

do i feel for any or all of them? of course i do. but get over it. you live in a democracy, in what is arguably the best place on earth. you have to pay for that privilege.

ok, i am done with my rant now.

 

[slumbum]

Anyone know of Massachusetts tax credits?

If you know of a link for Massachusetts State Tax Perks, I would really appreciate it.

Thanks!

Edmund

 

[LouieNet]

ok, i am done with my rant now.

Woah. What a rant.... I guess we're not ready for a discussion (elsewhere) on this topic.

Anyway, keeping to topic....

If you know of a link, I would really appreciate it.

Hi Edmund,

Would you please elaborate on your question? To which item specifically are you asking for a link?

Louie

 

[JRjr]

In Virginia if you pay an extra $10 for the 'Clean Special Fuel' plates that the Prius qualifies for, you can use the HOV lanes with a single occupant.

That's probably why as of May of this year Virginia was 2nd behind California in number of registered Prius owners.(http://www.signonsandiego.com/news/nati ... ybrid.html).

 

[CaPriusLover]

ok, i am done with my rant now.

OFF TOPIC: I agree!! Teachers should be paid what they are worth instead!!!

ON TOPIC: For the person in Virginia; did the Feds back Hybrids using HOV lanes or did Virginia do it without caring what the feds have to say? I'm asking this because I believe the only thing standing in the way of California getting the okay to use the HOV lanes is the Feds.

After re-reading that paragrach, I'm obviously NOT a teacher!!!

 

[smtrader]

Does anyone know if any tax credit applies to purchasing a *used* Prius? I bought one last month with only 3500 miles on it 'cause the owners were leaving the State.

Brian

 

[vegas1]

Regarding buying a used Prius, the IRS is very clear on it: No, only the original owner gets the tax deduction. It does not matter how long he or she keeps the car either.