[skyMyrka]

So, all my friends with hybrids are getting tax credit. Is there anything that smart car owners will qualify for on their tax returns in terms of credit or a deduction?

Federal qualified vehicle list is here:
www.irs.gov/newsroom/article/0,,id=157557,00.html
Many don't even begin to compare to smart's environmental benefit, yet it's not listed.

Any info is much appreciated.
Thanks in advance.
Tatyana.

 

[jimvw57]

I believe the tax credit was designed to offset the additional cost for Hybrid equipment on a vehicle. Since the Smart Car is not a Hybrid, it doesn't qualify.

BUT since you are buying less gasoline, you are paying less taxes on the miles you drive.

 

[skyMyrka]

Thanks for the reply. Smart does appear to qualify along the "energy efficient vehicles" guidelines, but I guess it wasn't enough to cross over to the fed/state considerations. Too bad, but I still luv my little sneaker on wheels

I believe the tax credit was designed to offset the additional cost for Hybrid equipment on a vehicle. Since the Smart Car is not a Hybrid, it doesn't qualify.

BUT since you are buying less gasoline, you are paying less taxes on the miles you drive.

 

[BigWarpGuy]

Still it would be nice to have a tax credit for owning the Smart Fortwo.

 

[Bill Marshall]

No sales tax on a fortwo in CT. :jawdrop:

 

[NeWave]

Property tax on em are cheap here...

 

[HGB]

Is there hope for a tax break for smarts?

Politicswashington | |

Jack Gruber, USA TODAY

Clinton says U.S. must use 'smart power'

By Ken Dilanian, USA TODAY
...................................................................

There you have it, this is from today's headlines

When Clinton even endorses the use of our little cars then we should certainly get a break...

 

[pdboilermaker]

The Clinton remarks are disturbing, makes me want to get rid of bumbleflea

 

[jwight]

Canada has an "eco credit" system and the smart qualifies for it. Here, we give a tax credit to a GM hybrid truck that gets in the low 20s mpg, while the smart, in the low 40s mpg, gets zip. Makes sense to me.

 

[jediknight36]

I read somewhere that we could if Dimaler would submit for it. They won't, I'm sure. Just think, get and extra grand for buying a smart!

 

[skyMyrka]

Well,
it only makes sense to reward consumers for environmentally friendly choices. Tax payers get credit for hybrids, and smart is not that far off by comparison in terms of mileage, emissions, and one could argue offers a number of benefits that hybrids do not.

I did read a few references that manufacturer must apply for federal/state tax breaks before the benefit could be passed on to the taxpayer. With SMART rolled out in states for just about a year, I would hope there will be something to encourage more consumers to commit to the brand.

Thanks for the info
-Tatyana.

Politicswashington | |

Jack Gruber, USA TODAY

Clinton says U.S. must use 'smart power'

By Ken Dilanian, USA TODAY
...................................................................

There you have it, this is from today's headlines

When Clinton even endorses the use of our little cars then we should certainly get a break...

 

[skyMyrka]

My thoughts exactly when I read the federal qualified vehicle list.

Canada has an "eco credit" system and the smart qualifies for it. Here, we give a tax credit to a GM hybrid truck that gets in the low 20s mpg, while the smart, in the low 40s mpg, gets zip. Makes sense to me.

 

[brian r]

No sales tax on a fortwo in CT. :jawdrop:

I got my CT property tax statement on my fortwo last week and the assessed value was $1750 more than the cost of the car. :wow:

 

[tabevan2052]

Just think , all we save by driving the "little beasties". The government is looking at taxing annual mileage or increasing gasoline taxes...

What a bunch of CRAP!!!

PUT SENATE AND THE CONGRESS ON PAY FOR PERFORMANCE!!! MAKE THEM PAY INTO SSI AND STOP THEIR RETIREMENT SALERIES!

 

[Duckhunter]

PUT SENATE AND THE CONGRESS ON PAY FOR PERFORMANCE!!! MAKE THEM PAY INTO SSI AND STOP THEIR RETIREMENT SALERIES!

They do pay into it now
snopes.com: Congressional Pensions

Still do very good though

 

[Alan Smithee]

Here, we give a tax credit to a GM hybrid truck that gets in the low 20s mpg, while the smart, in the low 40s mpg, gets zip. Makes sense to me.

It actually does make sense. You, me, and the other 25,000 people that bought smarts in the first year did not need an incentive to buy them.

Until GM sells hybrids at Toyota volumes, it will lose money on every full-sized hybrid truck. The hybrid versions are priced significantly higher to defray some of the cost, and as jimvw57 said earlier in the thread, the tax break is to offset the additional cost in order to encourage consumers to buy the hybrid version. While 20mpg is certainly not stellar, it is ~40% more efficient than the non-hybrid, and that is significant.

 

[kwajman]

The Clinton remarks are disturbing, makes me want to get rid of bumbleflea

Two things, I live in Wisconsin now but grew up in Lafayette. My parents live in Jefferson now. Maybe I'll see you around town!

I will be using mine for business so I will be able to deduct all car expenses, oil, parts, etc.... off my taxes.

 

[jwight]

it is ~40% more efficient than the non-hybrid

I love percentages; if a gas powered trucks gets 10 mpg and the hybrid version could get 20 mpg - wow, that's a hundred percent increase! But the thing still only gets 20 mpg and that's nothing to brag about (or encourage through subsidies) IMHO. Until we get over the idea that 20 mpg is "good" we're never going to make any significant progress in improving overall fuel consumption (and I'm not implying anyone here thinks 20 mpg is "good.")

 

[Alan Smithee]

Quite to the contrary: 20mpg is great for a 6,000lb vehicle. Face it, Silverado/Tahoe/Escalade buyers are not cross shopping smarts/Yarises/Priuses. There are over 1 million full-sized pick-ups sold each year in the US. Even if a fraction of the largest (in terms of both physical size and market share) vehicles can increase mileage ~40%, that is an enormous step in improving overall fuel consumption.

In comparison, the 25,000 smarts sold here last year had an insignificant impact.

 

[gstreetcomic]

And i thought the taxes on Mr. Blue were up there. Compared to that figure, mine is chump change. I am paying 77.95 for six months on my car which was prorated. Your state must be tax happy or something. I as well drive a Pure which may make a difference.

I got my CT property tax statement on my fortwo last week and the assessed value was $1750 more than the cost of the car. :wow: