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Purchasers
of Honda hybrids still qualify for tax credit
WASHINGTON, Feb. 21, 2007 — Purchasers of American
Honda Motor Company, Inc., qualified vehicles may continue
to claim the Alternative Motor Vehicle Credit. The announcement
comes after the IRS concluded its quarterly review of the
number of hybrid vehicles sold.
Honda sold 12,716 qualifying vehicles to retail dealers in
the quarter ending Dec. 31, 2006. This brings the cumulative
number of qualified Honda hybrid vehicles sold as of Dec.
31, 2006, to 41,124.
The credit amount and make and model of qualified vehicles
sold are:
- Honda Accord Hybrid model year 2006 without updated calibration:
$650
- Honda Accord Hybrid model year 2006 with updated calibration:
$1,300
- Honda Accord Hybrid model year 200: $1,300
- Honda Accord Hybrid Navi model year 2007: $1,300
- Honda Civic Hybrid model year 2006 and 2007: $2,100
- Honda Insight model year 2006: $1,450
Taxpayers may claim the full amount of the credit up
to the end of the first calendar quarter after the quarter
in which the manufacturer records its sale of the 60,000th
vehicle. For the second and third calendar quarters after
the quarter in which the 60,000th vehicle is sold, taxpayers
may claim 50 percent of the credit. For the fourth and fifth
calendar quarters, taxpayers may claim 25 percent of the
credit. No credit is allowed after the fifth quarter.
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