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Prices Paid: Buying & Leasing Experiences Honda Civic Hybrid Prices Paid and Buying Experience
614 messages, Last post on Aug 06, 2009 at 6:00 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: centel (Feb 02, 2006 9:15 pm) Once a manufacturer reaches the limit, all cars sold in that quarter of the year and the next quarter qualify for the credit.. In other words, it isn't a hard cap.. the cap just triggers the end date. So, the dealers should know at least 90 days before the expiration of the credit for their particular make. regards, kyfdx Host-Prices Paid Forums
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Replying to: kyfdx (Feb 03, 2006 4:13 am)
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Replying to: centel (Feb 03, 2006 8:19 am) Another question. Does the 60k units mean, 60k sold or 60k sold to people that qualify. I imagine at least half the hybrids will be sold to companies and people that do not qualify for the credit. Many people will not know if they qualify until they do their taxes in 2007. Remember the AMT may get a lot of us this year. I'm thinking Katrina and the war will drain our funds and you will get a big "So Sorry" we are out of money. |
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Replying to: centel (Feb 03, 2006 8:19 am) If the IRS asks you to prove you qualify, then you'll have to back it up with paperwork.. regards, kyfdx |
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Replying to: centel (Feb 02, 2006 9:15 pm)
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Replying to: pojaman (Feb 03, 2006 8:55 am) Toyota reports to the IRS that they've sold 60K Priuses by June 15th.. By the rules, that means that every Prius sold by September 30th (the end of the next quarter) will qualify for the tax credit... Toyota tells their dealers that the credit is only for cars sold by 9/30, and the dealers inform their customers.. You take the credit if you qualify... If the IRS requires proof (whether on the form, or by letter or audit), then you provide the paperwork. There are hundreds of different credits administered under the tax code... This one shouldn't be any more difficult than any other.. regards, kyfdx
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Replying to: kyfdx (Feb 03, 2006 9:00 am)
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Replying to: gagrice (Feb 03, 2006 9:15 am) First 60000 HCH owners get it, the next one do not. Am I wrong? Did I miss something? 
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Replying to: centel (Feb 02, 2006 6:50 pm) |
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...is supposed to be about the HONDA Civic Hybrid, it would be reasonable for me to point out at this point that it is highly unlikely that Honda will bump up against the tax credit ceiling in calendar year 2006. Only Toyota is going to sell enough hybrids under both the Toyota and Lexus brands to hit the ceiling in '06. If Honda hits the 60,000+ mark in 2006, as noted above, the "grace period" extends into the quarter FOLLOWING that event - just about impossible for Honda buyers to run out of credits in the coming year. The 60,000 ceiling is for each manufacturer - no way you need to rush out an buy a Civic or Accord hybrid for fear that Honda will sell more than this in the first three quarters of this year.
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