Honda hybrid buyers eligible for tax credits
Posted: Thu Nov 30, 2006 5:26 am
Honda hybrid buyers eligible for tax credits
Thursday, November 30, 2006 - Business First of Columbus - charlotte.bizjournals.com
American Honda Motor Company Inc. said customers who purchase a 2007 Accord or Civic hybrid or GX are eligible for a federal tax credit of up to $4,000.
The sales arm of the Japanese automaker released details of an Internal Revenue Service Opinion based on the Energy Policy Act of 2005. The IRS said the following tax credits would apply to Honda-made hybrids:
2007 Civic hybrid: $2,100.
2007 Accord hybrid: $1,300.
2007 Civic GX, $4,000.
"The federal tax incentives reward consumers who seek the highest levels of environmental performance from their vehicles," John Mendel, senior vice president of American Honda, said in a release.
Depending on various limitations and circumstances of the customer, Honda said consumers should consult the IRS or a tax adviser before filing their tax returns for the year they purchase the car to determine eligibility for the credit.
Honda launched the Civc GX in 1998, followed by the Civic hybrid in 2002 and the Accord hybrid in 2004.
The company's Accord line is produced at its Marysville manufacturing plant, which is one of three plants Honda (NYSE:HMC) runs in Central Ohio through its Honda of America Manufacturing Inc. subsidiary.
Its Marysville car and motorcycle plants and its East Liberty auto plant employ about 8,600 workers, while its engine plant in Anna has 2,800 workers. About 800 workers make automatic transmissions at the factory in Russells Point.
Thursday, November 30, 2006 - Business First of Columbus - charlotte.bizjournals.com
American Honda Motor Company Inc. said customers who purchase a 2007 Accord or Civic hybrid or GX are eligible for a federal tax credit of up to $4,000.
The sales arm of the Japanese automaker released details of an Internal Revenue Service Opinion based on the Energy Policy Act of 2005. The IRS said the following tax credits would apply to Honda-made hybrids:
2007 Civic hybrid: $2,100.
2007 Accord hybrid: $1,300.
2007 Civic GX, $4,000.
"The federal tax incentives reward consumers who seek the highest levels of environmental performance from their vehicles," John Mendel, senior vice president of American Honda, said in a release.
Depending on various limitations and circumstances of the customer, Honda said consumers should consult the IRS or a tax adviser before filing their tax returns for the year they purchase the car to determine eligibility for the credit.
Honda launched the Civc GX in 1998, followed by the Civic hybrid in 2002 and the Accord hybrid in 2004.
The company's Accord line is produced at its Marysville manufacturing plant, which is one of three plants Honda (NYSE:HMC) runs in Central Ohio through its Honda of America Manufacturing Inc. subsidiary.
Its Marysville car and motorcycle plants and its East Liberty auto plant employ about 8,600 workers, while its engine plant in Anna has 2,800 workers. About 800 workers make automatic transmissions at the factory in Russells Point.