Hello, I just bought a 2005 #6 prius in black. I got it for almost $1000 under MSRP. i could not be happier. Does anyone know about maryland specific tax credits and hov lane information? thanks. Also what about the federal tax credit for 2005.
Congratulations and welcome, hope you enjoy your new vehicle. I 'll have to let someone else respond to the MD tax and HOV questions. The federal tax situation for a Prius, put into service in 2005, is not a tax credit but rather a tax deduction of $2,000. The rules change after 1/1/2006 but it appears you will fall under the 2005 rules since you have already purchased the vehicle. There are multiple other threads on this topic.
The following information is what I got from MVA, accurate as of Sept 12 2005: =========================== Dear MVA Customer, Thank you for your recent email inquiry. The answer to your question is as follows. As of July 1, 2004, all hybrid vehicles titled in the State of Maryland will pay the 5% excise tax on the full purchase price of the vehicle when titling and registering in Maryland. There was a law (Senate Bill 670) effective July 1, 2000 that allowed a tax exemption on hybrid and electric vehicles but this changed as of July 1, 2004 per Maryland Vehicle Law Book section 13-815 ( B ) ( 3 ). ========================================= Dear MVA Customer, Thank you for your recent email inquiry. The answer to your question is as follows. You would have to meet the requirements of the HOV lanes of having two or more passengers in the vehicle when using those lanes. We are not aware of any changes to that policy at this time.
The following link is available through the Government_Incentives section of the Toyota_Prius_FAQ: EERE.Energy.gov - U.S. Dept. of Energy - State and Federal Laws and Incentives
Presently the only state benefit for owning a hybrid in Maryland is that it is exempt from emissions testing.
