What is Hybrid vehicle tax credit?
Individuals buying hybrid cars will get a hybrid vehicle tax credit instead of a tax deduction. The IRS has just started to kick out the exact amounts that we can claim for our new hybrid. Hybrid vehicle tax credit is removed directly from the sum amount of a federal tax issued upon buying a hybrid car. Unlike tax deduction which subtracts a certain percentage from a specific amount, hybrid vehicle tax credits applies and are obtainable to vehicles purchased or placed in service on or after January 1, 2006. This benefit is only obtainable for the first owner or the original owner of a capable hybrid vehicle. If the vehicle was chartered by a company, the issuing company can claim the tax credit. A lot of new Hybrid vehicles are eligible for this incentive. Here is a list of some qualified hybrid vehicles that are certified by the IRS: Chevy, GMC, and Saturn Hybrids 2008 Chevy Malibu 2008 Chevy Tahoe 2WD and 4WD 2008 GMC Yukon 2WD and 4WD 2008 Saturn Aura 2008 Saturn Vue Green Line Mazd
