// IRS Grants Deduction for Ford's Hybrid - Page 2
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  1. #11

    IRS Grants Deduction for Ford's Hybrid

    Well some of it's going to depend on what tax bracket you're in, and if it will affect your state taxes as well. Here in AZ, they calculate your state income tax based on a percentage of what your Federal adjusted gross income is. If you lived in a state that calculated it some other way or that has low or no income tax, you'd be missing out on some advantages there too.

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  3. #12

    IRS Grants Deduction for Ford's Hybrid

    For New York state information, go to the New York State tax website: www.tax.state.ny.us

    When you do your taxes, you will need to fill out form IT-253 for Alternative Fuels Credit. If the vehicle was purchased in 2004 you'll get a $2000 credit. IT-253 should be filed along with your regular tax forms.

    Also, and separate from your tax forms, go to the tax site and download form AU-11. That's used for sales tax refunds.
    Fill that in with all the pertinent information, attach a copy of your dealer's invoice, and send it to the state. A portion of your sales tax paid will be refunded to you.

  4. #13

    IRS Grants Deduction for Ford's Hybrid

    I want to purchase a Toyota Prius some time in 2005. I live in Oregon. Every website I have seen has different information on what kind of tax incentives apply for that vehicle in 2005, in the state of Oregon. Any know for sure? Help!

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