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I went to just look at a Prius on Monday and came home as an owner of a Silver one. Even our local dealer in Central California had 4 in stock. One of the salesmen said there was a $1,500 federal tax credit I could get for buying one. I can't find any information about this. Does anyone know if this is true? Thanks!
 
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Sally,
Check out the article in Wall Street Journal - May 22, 2002, page D8.

IRS clarified that hybrid vehicles do qualify for a one-time deduction of up to $2,000.

This article come out the week after I picked up my Aqua Prius, BONUS!!
 
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Re: Tax Credit State and Federal

Yes this is true and pretty amazing I might add. I guess it just goes to show that buying this car was a great idea.

The IRS code section that allows for the deduction is 179a. There may be some state tax benefit as well. I am a tax accoutant with Big 5 (4?) experience and would be glad to provide more information to anyone who wants it.

Feel free to email me at [email protected]
 
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ah, the old federal tax credit (Electric Vehicle) vs. the tax deduction (Clean-Fueled vehicle) debate... The deduction seems more likely than the credit these days, though.

in CA, if you live in the right district, you may also be available for other grants and such (just check into it before you buy!)

I can't do anything about the ads, but most of the tax info has been collected here (you have to be a member to access it, though):
<http://groups.yahoo.com/group/toyota-prius/links/Financial_000963256550/>

(and no, the Prius cannot go single-occupant in the CA HOV lanes... sorry.)

[%sig%]
 

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(and no, the Prius cannot go single-occupant in the CA HOV lanes... sorry.)
Which of course has changed and is covered to death in the main forum. Free parking at L.A. City meters, too.

Just updating this old thread.

Jan
 
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