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Additional Incentives for Purchasing
Low Emission Vehicles
New Jersey's Zero Emission Vehicle
(ZEV) Sales Tax Exemption
Legislation enacted in New Jersey in January, 2004 provides a sales tax exemption for zero emission vehicles (ZEVs), which are battery-powered or fuel-cell powered vehicles certified pursuant to the California Air Resources Board zero emission standards for the model year.
The exemption is applicable to the sale, rental or lease of a new or used ZEV on and after May 1, 2004.
For more information, please see the New Jersey Department of Treasury's site.
Federal Income Tax Deduction for Purchase of Hybrid-Electric Vehicles
If you buy a hybrid-electric vehicle new, such as a Ford Escape Hybrid, Honda Civic Hybrid, Nissan Altima Hybrids etc., you may be eligible for a one-time federal income tax deduction of up to $3,000.
2008 Model Year Hybrid Vehicles
http://www.irs.gov/irs/article/0,,id=176409,00.html
For more information, please visit:
Qualified Alternative Fuel Motor Vehicles (QAFMV) and Heavy Hybrid Vehicles
http://www.irs.gov/businesses/article/0,,id=175456,00.html#3
News Releases and Fact Sheets on Hybrid Vehicles and Alternative Motor Vehicles
http://www.irs.gov/newsroom/article/0,,id=161076,00.html
Tax Credit for Hybrid Vehicles- IRS TAX TIP 2007-56
http://www.irs.gov/newsroom/article/0,,id=107766,00.html |
