How to Claim a Federal Alternative Motor Vehicle Credit*
Customers who purchase a new Honda natural-gas vehicle on or after January 1, 2006, may be eligible for federal tax credits associated with the Energy Policy Act of 2005. To learn more about how you may qualify for tax breaks under the new energy bill, please consult your tax advisor or visit www.irs.gov.
Honda Civic GX NGV Models Eligible for Federal Tax Credit
2007 Honda Civic GX—$4,000
2008 Honda Civic GX—$4,000
Please note that this tax credit replaces the tax deductions that were available prior to January 1, 2006. Vehicles purchased and placed in service before January 1, 2006, are not eligible for the credit associated with the Energy Policy Act of 2005.
2008 Honda Civic GX—$4,000
Please note that this tax credit replaces the tax deductions that were available prior to January 1, 2006. Vehicles purchased and placed in service before January 1, 2006, are not eligible for the credit associated with the Energy Policy Act of 2005.
In order to qualify for the Alternative Motor Vehicle Credit
- You must purchase and take delivery of a qualifying vehicle on or after January 1, 2006.
- The vehicle must be new. (Used vehicles do not qualify.)
- You must purchase the vehicle. (Lessees do not qualify for the credit.)
- You must purchase the vehicle with the intention of using it, not reselling it.
- You must have proof of the vehicle's purchase and delivery date.
Limitations to the tax credit
In addition to the above rules, there are also some limitations to the Alternative Motor Vehicle Credit. Honda encourages consumers to contact the IRS (www.irs.gov) or a tax advisor about the credit, as various limitations may apply.
1. Under current law, the tax credit is available for eligible natural-gas vehicles through December 31, 2010. The tax credit for natural-gas vehicles is not subject to a phaseout schedule (Hybrids, unlike the natural gas vehicle, are subject to a phaseout schedule after the manufacturer sells 60,000 units).
1. Under current law, the tax credit is available for eligible natural-gas vehicles through December 31, 2010. The tax credit for natural-gas vehicles is not subject to a phaseout schedule (Hybrids, unlike the natural gas vehicle, are subject to a phaseout schedule after the manufacturer sells 60,000 units).
References/Links
*Information provided is for general informational purposes and does not constitute tax advice. For details on the credit, consumers should check with their tax advisors or the IRS Web site at www.irs.gov.
