Pending Hybrid Incentives PPT from Washington

The Union of Concerned Scientists had better re-read the legislation that actually got passed and signed. The tax credit amount has nothing at all to do with the vehicle's emmissions rating, only its fuel efficiency.

 

Yes, but fuel efficiency based on WEIGHT. It would be hard to get high fuel efficiency compared to others in your weight class without having a good emmissions rating.

 

So if we bought our Prius in 2005 and have not filed for the deduction can we wait until 2006 and file for the credit?

 

Agrred, but my point was, the chart provided by the UCS is based on emmissions ratings only and drawing a conculsion as to what the tax credit will be based on that. That's not how the tax credit calculation works. Also, the fuel economy for the tax credit is compared to the average city EPA fuel economy for 2002 model year, not how it stacks up against other vehicles in the class at this time.

 

NO, sorry.

The only thing that matters is the date you signed the purchase paperwork and drove it off the lot. If that date was in 2005, you are eligible for the $2,000 tax DEDUCTION from when you file your 2005 tax return early next year.

No purchase in 2005 will qualify for the upcoming tax CREDITS.