I was just wondering,.... if one is in Colorado, according to http://go.ucsusa.org/hybridcenter/incentives.cfm#CO he would get $3,285 income tax credit... And there's the federal tax credit... Does that mean that, in Colorado, you can deduct $3,285 from your State taxes, AND, you can also deduct $3150 from your Federal taxes. Thanks!
I'm not from Colorado but from reading the page you linked and the page linked off that page, it looks like you are correct.
<div class='quotetop'>QUOTE(azzieo @ Aug 23 2006, 05:37 PM) [snapback]308532[/snapback]</div> Yes! We live in CO and the $6K+ combo (state and federal) of tax credits made buying the Prius an easy decision for us. I verified it with my accountant and he said we would be eligible for both full credits.
<div class='quotetop'>QUOTE(steved @ Aug 24 2006, 01:16 PM) [snapback]308884[/snapback]</div> Thanks for verifying that for me.... That's awesome! I'll have to move to Colorado now...
<div class='quotetop'>QUOTE(azzieo @ Aug 24 2006, 02:31 PM) [snapback]308899[/snapback]</div> Yep, now if I can just get the car by Sept 30! And semi-on-topic, one of the dealers I have an order with said to me yesteraday "as long as I have the VIN by Sept 30, you'll be all set." "No," I replied, "I think I have to take delivery of the vehicle." "Well, as long as I have the VIN 'they' won't know when you took delivery." "Mmmmmm, oooookay..." I have no confidence he has a clue what he is talking about. I want to be driving off the lot by Sept. 30 to ensure I get the full $6435 in credit that I can get.
Just a correction, the tax benefit is a credit, not a deduction as stated in the original post, so it is like cash. Nate
<div class='quotetop'>QUOTE(Soylent @ Aug 24 2006, 12:56 PM) [snapback]308959[/snapback]</div> ... or you will be sending the IRS a smaller check than you would have.
<div class='quotetop'>QUOTE(4chi @ Aug 24 2006, 03:00 PM) [snapback]308919[/snapback]</div> Yes. YOU are correct (at least for the Federal credit; I don't know about the CO one). The car must be put into service before October 1. As far as I know, this can be verified by your sales documents, which should specify that date on which you took possession of the car. Now, I suppose that a dealer could back-date those documents, but I don't know that I'd want to buy a car from a dealer that would do that.
<div class='quotetop'>QUOTE(4chi @ Aug 24 2006, 01:00 PM) [snapback]308919[/snapback]</div> You might want to check with HM Brown (an auto broker in Denver) to get your car quicker. We got a car through them in May in 6 weeks and a friend of mine just took delivery of his car 2 weeks ago and he got it in 2 weeks through HM Brown also. They cost of the car was the same as at the area dealers. The broker I worked with was Monty and he did a great job with the transaction.
<div class='quotetop'>QUOTE(steved @ Aug 24 2006, 11:20 PM) [snapback]309174[/snapback]</div> Good advice...did you have to be flexible with package and color to get it that quick?
Oklahoma is crediting $1500 towards hybrid purchase from 2007 wish it was 2006 .... my car would have been $1500 cheaper. Well 3400 for colorado is a great bargain....6500 off the MSRP.....WOW!!!
<div class='quotetop'>QUOTE(steved @ Aug 24 2006, 11:20 PM) [snapback]309174[/snapback]</div> Funny, I saw a nice gray prius with the HM Brown plate at my son's daycare this morning. Chatted with the nice woman owner a bit, she seemed quite pleased with them.
<div class='quotetop'>QUOTE(4chi @ Aug 24 2006, 09:29 PM) [snapback]309180[/snapback]</div> Yes you have to be flexible, but you have to be flexible when getting a Prius from a dealer also. I gave the broker (Monty) a list of colors and told him I wanted pkg 4 and he searched around for it. My friend who just got his in 2 weeks through HM Brown got his from a dealer in Arizona since he wanted the car so quickly. He did have to pay a $400-500 transportation charge to get the car from AZ, but given that he got the car in 2 weeks he was fine with that. The advantage of using a broker like HM Brown is they have connections with lots of Toyota dealers that they buy tons of cars from so they have a lot of locations and leverage to get cars quickly. They will search local dealers first, but if the car isn't available locally, they have dealers that are farther away like AZ they can also get cars from. The price of the car should be MSRP (at least that's what my I paid in May and my friend in August).
