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Some hybrid tax credits set to expire
TOYOTA HITS PRODUCTION LIMIT; OTHER BRANDS STILL ELIGIBLE
By Mary Dalrymple
ASSOCIATED PRESS
WASHINGTON - Tax incentives for environmentally concerned drivers shopping for certain energy-efficient hybrids will soon start disappearing.
The Internal Revenue Service said yesterday its tax collectors have been told that Toyota Motor Corp. this summer hit the legal production limit, 60,000 vehicles, that Congress imposed on vehicles eligible for a tax credit.
The announcement means that federal tax credits for Toyota and Lexus hybrid vehicles will be cut in half beginning in October, the IRS said.
The $3,150 credit for the popular Toyota Prius, the largest hybrid tax credit available, will shrink to $1,575 on Oct. 1.
for full source story goto:
http://www.kentucky.com/mld/kentucky/business/15569721.htm
TOYOTA HITS PRODUCTION LIMIT; OTHER BRANDS STILL ELIGIBLE
By Mary Dalrymple
ASSOCIATED PRESS
WASHINGTON - Tax incentives for environmentally concerned drivers shopping for certain energy-efficient hybrids will soon start disappearing.
The Internal Revenue Service said yesterday its tax collectors have been told that Toyota Motor Corp. this summer hit the legal production limit, 60,000 vehicles, that Congress imposed on vehicles eligible for a tax credit.
The announcement means that federal tax credits for Toyota and Lexus hybrid vehicles will be cut in half beginning in October, the IRS said.
The $3,150 credit for the popular Toyota Prius, the largest hybrid tax credit available, will shrink to $1,575 on Oct. 1.
for full source story goto:
http://www.kentucky.com/mld/kentucky/business/15569721.htm