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Location: Westland, Michigan, United States

Graduate of Walsh Institute Of Accountancy (Now Walsh College) Michigan in 1959. Retired in 1987, but still active in the profession **World War II Veteran (Pacific) **PHONE 734-261-1979 **E-MAIL -cpabakem01@yahoo.com **(Domain Name CPASENSE Registered) **Mentioned in the Journal of Accountancy, SmartPros, Tax Prof Blog, CPA2BIZ, CPA Journal, AccountingWEB, CPATrendlines & More **Search Accounting Blogs: http://www.blognetnews.com/accounting (Includes cpasense)**TOPICS - FINANCE - FEDERAL & MICHIGAN TAXES ** Making Sense Of Your Finance & Taxes

Friday, July 21, 2006

Tax Credits For Toyota & Lexus Hybrids To Be Halved

Environmentally concerned car buyers will see some federal tax breaks for energy efficient hybrids start shrinking this fall.Toyota Motor Corp. has hit the production limit — 60,000 — on vehicles eligible for a special tax credit

That means the tax credits for Toyota and Lexus hybrids will be cut in half for drivers who purchase their vehicles beginning in October, she said. The $3,150 credit for the popular Toyota Prius, the largest hybrid tax credit available, would shrink to $1,575.


Six months later, beginning next April, the tax credits will shrink to one-quarter of their original value. They will disappear by October 2007.

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