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Discussion Starter #1
Anyone in the know here?

*1* I know about the federal tax credit for 06 but what about state tax incentives?

This link shows New Mexico having sales tax waved and motor vehicle excise tax exempt.

*2* What is "motor vehicle excise tax"?

Man, if these are both true...this just keeps getting better and better!

http://www.hybridcars.com/incentives.html Thanks in advance for the help. Aaron
 

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My understanding of excise taxes (at least in MA - http://www.sec.state.ma.us/cis/cisexc/excidx.htm) is that it is a Use tax, paid to the local town, based on some $ per valuation of the vehicle (in MA, $25 tax/$1000 valuation). I'd assume that other states do something similar, and if a state gives hybrids a break on the excise tax, then they probably just do a lower rate of taxation as compared to other vehicles...

As for incentives, Toyota just publised this info in their Fall 2005 Hybrid Synergy View newsletter:
http://www.toyota.com/hybridsynergyview ... l?url=Text

Some other information is available at:
http://autos.groups.yahoo.com/group/toy ... 963256550/
 

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Discussion Starter #4
Thanks mrv,

I just got emails back from the folks at NM MVD and learned that Excise tax is the same thing as sales tax here in NM.

Here's what Carlos said...

"Aaron,

In reference to your inquiry about excise tax on hybrid vehicles, SB86 of the 2004 legislative session is the referenced bill below. There is a one-time exemption from excise tax on all hybrid vehicles purchased after July 1st, 2004. The one time exemption is taken at the time of issuance of the original certificate of title. See below outtake from SB86:



F. From July 1, 2004 through June 30, 2009,

vehicles that are gasoline-electric hybrid vehicles with a

United States environmental protection agency fuel economy

rating of at least twenty-seven and one-half miles per gallon

are eligible for a one-time exemption from the tax at the

time of the issuance of the original certificate of title for

the vehicle."

Section 4. EFFECTIVE DATE.--The effective date of the

provisions of this act is July 1, 2004.



If you have any additional questions, let me know.

Carlos"

AND...

"Yes, excise tax is the sales tax on a vehicle.
Unfortunately, at this time, there is only a break on the excise tax, not the registration fees. "

Cool huh?
 
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