EVLN(hybrids seek tax break)
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--- {EVangel}
http://www.nytimes.com/2002/08/18/business/yourmoney/18PDIG.html?ex=1030334400&en=98f7da1f7e0c6b27&ei=5040&partner=MOREOVER
Gas-Electric Cars Gain Tax Benefits
By VIVIAN MARINO
Owning a hybrid gasoline-electric car has some
well-publicized advantages. Fuel efficiency is one. A
cleaner-burning engine is another. And now there are tax
benefits.
Last week, the Internal Revenue Service certified the first
hybrid vehicle, the Prius from the Toyota Motor Corporation,
as eligible for a clean-burning-fuel deduction. Owners of
the Prius, beginning with the 2001 model year, may claim a
one-time $2,000 federal income tax deduction for the year
the car is first used.
The Honda Motor Company is also seeking to have its hybrid
vehicles, the Insight and a hybrid Civic, certified by the
I.R.S. for the deduction.
The Prius runs on a 70-horsepower, four-cylinder engine that
is aided by a 44-horsepower electric drive motor. It gets an
estimated 52 miles per gallon in the city and 45 on the
highway. Since it became available in 1997, nearly 100,000
have been sold worldwide, about 30,000 of them in the United
States, Toyota said.
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