Buying a hybrid car? Gov. Rod Blagojevich will propose knocking $500 off the state sales tax for people who purchase new hybrid or alternative-fuel vehicles starting July 1. Article's author apparently has no knowledge of the changes to the federal tax incentive: "Beginning Jan. 1, some buyers of new hybrids could lop off $500 from their taxable income. That's down from a $2,000 deduction offered for cars first driven last year or before. Next year, the credit is slated to disappear, according to the Internal Revenue Service."
1000 points for being the first to comment on (and correctly identify) the critter in my signature! (from the anime, "Tenchi Muyo", et. al.) Cabbits rulz! B)
It's about time considering the guy thinks he's Gandhi or something. My only question would be why the start date has to be delayed until July 1st. Guess I'll just write a letter to Gandhi and ask.
It allows time for everyone to get a software consultant to tell them how they can best program their computers to subtract the $500 from what would have been expected. Something must be wrong. That's the most efficient way to do it! He'll be excommunicated from the Governors' Conference for failing to establish a new bureaucracy to handle it.
I am guessing it is because July 1 is the start of the Illinois fiscal year, and since this is a rebate on a state sales tax, not income tax, the change in revenue rules would usually take effect at the start of the next fiscal year. Unfortunate that he has not proposed for it to be retroactive for vehicles purchased after January 1, since sales after July 1 may not qualify for the income tax credit.
Election year... Promise big... talk a ladda.... Deliver nada... Govenor BigLoadAVitch lost my vote when he delayed the opening of the 294 south Irving parkway open tolling station 3 weeks to fit it into his dog and pony show with all the politicians on the back of a flatbed trailer in his big 'grand opening'. Project is done, move the barrels out of the way and talk about it on the news as the cars go flying past. That last 4 days before the dog and pony show were a traffic nightmare. I should be fuel efficient in February, so I guess the vote buying isn't going to stretch to me.
