Hybrid Vehicles Certified for the New Energy Tax Credit

Sift Media
Share this content

Last Friday, the Internal Revenue Service (IRS) announced tax credit amounts for certain hybrid vehicles manufactured by Ford, Mercury, Toyota and Lexus. Starting in 2006, these tax credits replace the tax deduction of $2,000 which was previously allowed for taxpayers who purchased a new hybrid vehicle before December 31, 2005, for the clean-burning fuel deduction.


All Aboard the High-Velocity 2006 FRx Express! FRx Software has the engine fired up again to travel nationwide with timely training and expert guidance! Microsoft FRx and Microsoft Forecaster users, potential users and resellers don’t miss this FREE*, half-day event!

Once you’re on board, the FRx Software experts will help you gain tremendous insight into Microsoft FRx and Microsoft Forecaster. You’ll have the opportunity to hear customer perspectives and network with prospects plus pack in useful tips, and see the features and benefits of FRx Software’s financial analytic applications. Register now!

FRx Software Home Product Information
Training & Consulting Product Demo
Webcast Customer Testimonial Video

Many of the hybrid vehicles currently available may qualify for this new tax credit, however, the vehicle certifications recently acknowledged by the IRS and their credit amounts are:

  • 2006 Ford Escape Hybrid Front WD $2,600
  • 2006 Ford Escape Hybrid 4 WD $1,950
  • 2006 Mercury Mariner Hybrid 4 WD $1,950
  • 2005 Toyota Prius $3,150
  • 2006 Toyota Prius $3,150
  • 2006 Toyota Highlander 4WD Hybrid $2,600
  • 2006 Toyota Highlander 2 WD Hybrid $2,600
  • 2006 Lexus RX400h 2WD $2,200
  • 2006 Lexus RX400h 4WD $2,200

Consumers considering purchasing one of these hybrid vehicles may want to buy early, as the full credit is only available for a limited time. Taxpayers may claim the full amount of the allowable credit up to the end of the first calendar quarter after the quarter in which the manufacturer records its sale of the 60,000th vehicle. For the second and third quarters after the quarter in which the 60,000th vehicle is sold, taxpayers may claim 50 percent of the credit. For the fourth and fifth calendar quarters, taxpayers may claim 25 percent of the credit. No credit is allowed after the fifth quarter.

About admin


Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.