For Washingtonians: I just read in the newspaper this morning that they are going to remove the sale tax exemption for Hybrid car by this coming July 31st. So, if you want to take advantage of the sale tax exemption in Washington, you might want to move fast on it... From the article, other alternative fuel types (Hydrogen, electric, etc) of car will still have the sale tax exemption until end of 2010.
Yeah, The tax break was supposed to last for three years, and if you look up Google Hybrid Incentives, you will see there were bills being considered that would have extended the tax credit and add hybrid light trucks, so this was a 180 degree turn around. I picked up my 2010 Prius on Wednesday, and was looking forward to picking up the new Washington Plates today, but at the County Auditor's DMV office, I was told that first you need to go visit the Department of Revenue to get a tax waiver before going to DMV, so I will take another stab at plates on Tuesday. Just thought I would let any other Washontonians who buy before July 31 to go get the waiver from the Department of Revenue before visiting DMV. Larry
This is part of the Legislature's response to the state's budget catastrophe. See the other threads here and here. I had planned to wait 2 to 5 months. But after this broke Monday evening, I hurried up the shopping process and got my order in.
You have until july 31. There should be loads of 2010's available by then. How much is the sales tax there ?
6.5 to 9.5%, depending on location, with most of the state concentrated towards the high end. And of course, I live in an area at the very maximum. This state is getting a large supply, but with that deadline looming, I'm expecting them to sell quite well through July, with a very sharp dropoff in August.
You may loose the state sales tax excemption, however you still have the sales tax deduction on your federal income taxes, so it's a push.
An exemption is worth 100% of the amount in question, right now. A deduction is worth 0% to 35% of that amount, next April. And with the economy pushing me into a lower tax bracket, the deduction is worth less than in a 'normal' year. The choice is obvious.
ya old news, already a few threads on this. it did end up forcing my hand a bit. i had money set aside for a highway capable EV that i would be buying in july 2010 when my CD matured. well, because of this change in the ruling, i went ahead and got the 2010... it was a sacrifice and not what i wanted to do...(ok...maybe overstating it a bit) i did save $2600 on sales tax and got a priority discount which needed to be taken now or lost and only paid a $660 penalty on early withdrawal. i only took out what i needed to get the car so instead of cashing out my EV next year, it will only be a significant down payment instead i have long touted how lucky i was to live in such a forward-looking state... this latest move has really really upset me...i am ashamed.
