2008 Hybrids Certified As Tax Credit For Toyota and Lexus Comes to an End
IR-2007-186, Nov. 8, 2007WASHINGTON — The Internal Revenue Service acknowledged the certification by Toyota Motor Sales U.S.A., Inc., that several of its Model Year 2008 vehicles qualify for the hybrid vehicle tax credit. Only vehicles purchased prior to Oct. 1, 2007, qualify for a credit.
For purchases made April 1, 2007, through Sept. 30, 2007, the hybrid vehicle certifications recently acknowledged by the IRS and their credit amounts are:
- 2008 Toyota Prius Hybrid — $787.50
- 2008 Toyota Camry Hybrid —$650
- 2008 Toyota Highlander Hybrid 4WD — $650
- 2008 Lexus LS 600h L Hybrid — $450
- 2008 Lexus RX 400h 2WD and 4WD— $550
No credit is allowed for purchase of these vehicles after Sept. 30, 2007.
The credit amounts reflect a decrease in the credit beginning on Oct. 1, 2006, as a result of the manufacturer’s having sold 60,000 qualified hybrid motor vehicles.