2012 mazda rx9 Ever since 2005, the IRS has been giving a tax credit to individual taxpayers who drive cars which use alternative fuel sources. There was at one time just a clean fuel burning deduction available to green minded taxpayers, but this only applied to gas electric hybrid vehicles. In 2005, however, this was replaced by the current legislation, the Energy Policy Act.
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| 2012 mazda rx9 |
2012 mazda rx9
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| 2012 mazda rx9 |
By the terms of this 2005 law, the tax credit is taken directly from the total amount of tax which the taxpayer would otherwise owe. This reduces or can even eliminate the tax which the individual in question must pay. If you are unsure whether or not your particular green vehicle qualifies for this credit, you can ask your car manufacturer or your local dealership.
If you have bought a hybrid vehicle after January 1 2006, then your vehicle and you, happily qualify for this tax credit. This tax credit will also apply to your vehicle if you have begun to use your car after this date.
A hybrid vehicle is, by the definition given in this law a vehicle having drive trains which are powered by a rechargeable battery of some sort in addition to an internal combustion engine. Most hybrid vehicles which are available on the market currently do in fact qualify for this credit.
The credit provided for in the Energy Policy Act applies only to those who have purchased a new vehicle that meets these criteria. If this vehicle is leased rather than purchased outright by a consumer, it is the leasing company instead of the end user may claim this tax credit.
Let s have a look at how large of a credit you will be eligible to receive for your hybrid vehicle. This information is current as of January 2008:
2012 mazda rx9