Tax Credits For 2006 Announced

[BerkeleyDude]

http://www.fueleconomy.gov/!Removed!/tax_hybrid_new.shtml

2006 Lexus RX400h 4WD $2,200*

This is better than the one from 2005.

Keep in mind that 2005 was a tax deduction. For 2006 it's a tax credit.

[rocky2]

http://www.fueleconomy.gov/!Removed!/tax_hybrid_new.shtml

2006 Lexus RX400h 4WD $2,200*

This is better than the one from 2005.

Keep in mind that 2005 was a tax deduction. For 2006 it's a tax credit.

Keep in mind that the 2006 $2,200 tax credit is subject to AMT which the 2005 $2,000 deduction was not. Under AMT the $2,200 Tax Credit could be wiped out.

[alaterreur]

http://www.fueleconomy.gov/!Removed!/tax_hybrid_new.shtml

2006 Lexus RX400h 4WD $2,200*

This is better than the one from 2005.

Keep in mind that 2005 was a tax deduction. For 2006 it's a tax credit.

Keep in mind that the 2006 $2,200 tax credit is subject to AMT which the 2005 $2,000 deduction was not. Under AMT the $2,200 Tax Credit could be wiped out.

I must be missing something... What does AMT mean...???

[LEXIRX330]

http://www.fueleconomy.gov/!Removed!/tax_hybrid_new.shtml

2006 Lexus RX400h 4WD $2,200*

This is better than the one from 2005.

Keep in mind that 2005 was a tax deduction. For 2006 it's a tax credit.

Keep in mind that the 2006 $2,200 tax credit is subject to AMT which the 2005 $2,000 deduction was not. Under AMT the $2,200 Tax Credit could be wiped out.

I must be missing something... What does AMT mean...???

Alternative Minimum Tax

[BadBrad]

Here is some language from the tax credit website that I like:

"The vehicle is acquired for use or lease by the taxpayer, and not for resale."

I like the lease part! Was under the impression that leasing would not qualify. :D