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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.
New Jersey's Clean Fuel Vehicle
Rebates for Local Governments, State Colleges and Boards
of Education
The New Jersey Board of Public Utilities (NJBPU) offers
rebates to local and county governments, State colleges
and universities and Boards of Education for the purchase
of certain alternatively fueled vehicles.
For details please visit NJBPU's Clean Cities sites
at:
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 Accord Hybrid,
Honda Civic Hybrid, Honda Insight or Toyota Prius (other
models may be added in future updates) you may be eligible
for a one-time federal income tax deduction of up to
$2,000.
Eligible vehicles may be eligible for a "clean
fuel" deduction of $2,000 for those placed in service
by the end of 2005.
Please Note: New federal legislation has changed
the tax incentives for hybrid vehicles. Hybrids placed
in service by December 31, 2005 are still eligible for
the tax incentives described on this page.
Hybrids placed in service after this date will no longer
be eligible for these deductions but may be eligible
for a federal income tax credit under new legislation;
the amount will depend upon the vehicle's fuel economy,
estimated fuel savings, and other factors.
For more information, please visit www.fueleconomy.gov/feg/tax_hybrid.shtml
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