Did NY ever approve the tax credit?

<div class='quotetop'>QUOTE(Amyshubby @ Nov 10 2006, 01:19 AM) [snapback]346790[/snapback]</div>

I bought mine in May. I have been checking on the NY State web sight. Nothing yet!

Changing the subject - The Long Island Prius Group is having its monthly meeting Sunday at Dave and Busters in Farmingdale - 12:00 noon. You're invited. Maybe some of the members of the group have a better answer.

 

<div class='quotetop'>QUOTE(syclone @ Nov 10 2006, 09:05 AM) [snapback]346855[/snapback]</div>

LIPOG WEBSITE for directions and info on our group

 

SWEET!!!! I thought teh Federal $3150 was great, but now an extra $2000 on top of that...unbelievable!

 

<div class='quotetop'>QUOTE(Amyshubby @ Nov 20 2006, 11:43 AM) [snapback]352110[/snapback]</div>

I sure hope you are correct. Hopefully, you did not get a different answer from all 10 NY Tax dept employees that you spoke to...

 

Does anyone know if the NY state tax credit you are talking about is grandfathered back to the 2005 Prius? They pushed back legislation last year and were supposed to give the tax incentives for the 2005 purchases with the new legislation. Not sure if that happened or not.

Thanks!

 

<div class='quotetop'>QUOTE(CraigL @ Dec 15 2006, 08:58 AM) [snapback]362701[/snapback]</div>

Yes, the $2000 NY credit was available in 2005 and was expanded until 2010.

 

<div class='quotetop'>QUOTE(johnfried @ Dec 31 2006, 07:31 PM) [snapback]369073[/snapback]</div>

The tax credit was NOT available on the 2005 New York state tax form (IT-253). That form states:

"Important notice for tax year 2005
Tax year 2004 was the last year you could claim the alternative fuels
credit. However, any unused credit from a prior year in which the credit
was allowed can be carried over to tax years after 2004."

However, the credit was supposed to be (according to this and other hybrid websites) renewed for tax year 2006 and possibly apply retroactively to hybrids purchased in 2005. The 2006 IT-253 tax form is not yet available for 2006, though someone reported earlier in this thread that someone at the tax office told them the credit is available in 2006.

I have searched through the state legislation bills and laws and haven't found any passed legislation that renews the tax credit at all. The assembly passed a renewal but it was vetoed by Gov. Pataki. I guess we'll just have to wait until IT-253 becomes available and see what it says, though I am skeptical about there being a retroactive credit for 2005 hybrid purchases.

 

FYI, the 2006 IT-253 is now available at the NY state tax dept website. And yes, there's a credit for 2006 hybrid purchases. Unfortunately for 2005 purchases the credit is not available, which makes that the only year the old legislation or new legislation does not cover. Figures, since that's when I bought mine.

 

<div class='quotetop'>QUOTE(CraigL @ Jan 22 2007, 02:07 PM) [snapback]379067[/snapback]</div>

This answer is from the New York State Department of Taxation and Finance website (http://www.tax.state.ny.us/):

Question
Does the New York State Tax Law provide a tax credit for the purchase of new electric vehicles or qualified hybrid vehicles, or vehicles converted from gasoline-powered or diesel-powered to alternative fuel (clean-fuel) use?

Answer
Recent legislation re-instated the alternative fuels credit for alternative-fuel vehicle refueling property for tax years beginning after 2005 and before 2011. However, the new legislation does not allow a credit for electric vehicles, clean-fuel vehicle property, and qualified hybrid vehicles.

Under prior law, the alternaive fuels credit expired for tax years after 2004.

However, any unused credit from a prior year in which the credit was allowed can be carried over to tax years after 2004.

This credit is not refundable, but any unused credit may be carried forward indefinitely.

Personal income tax taxpayers claim this credit by filing Form IT-253, Claim for Alternative Fuels Credit. Article 9 and 9-A corporate taxpayers file Form CT-40, Claim for Alternative Fuels Credit. These forms are filed with the taxpayer’s annual tax return.

For more information see TSB-M-98(6)C, (11)S, (4)I Alternative

 

I am confuse now. So is there $2,000 tax credit back or not from NY state?

 

<div class='quotetop'>QUOTE(usbseawolf2000 @ Jan 22 2007, 06:24 PM) [snapback]379208[/snapback]</div>

No, there does not appear to be any tax credit after 2004.

From NYS Dept of Taxation website:
...However, the new legislation does not allow a credit for electric vehicles, clean-fuel vehicle property, and qualified hybrid vehicles.

 

<div class='quotetop'>QUOTE(Rico @ Jan 23 2007, 06:03 PM) [snapback]379746[/snapback]</div>

That's what they told me via e-mail. It doesn't apply to any vehicles after 2004.