Honda buyers are eligible for federal tax credits ranging from $1,300 for to $2,100 for Civic Hybrid, Honda said in a news release.
Customers who purchase a new 2006 Honda hybrid vehicle on or after January 1, 2006, may be eligible for federal tax credits ranging from $1,300 to $2,100 when they file their 2006 tax returns. Honda said that the announcement is the result of a ruling by the Internal Revenue Service (IRS), which calculated the tax credits based on the Energy Policy Act of 2005, passed by Congress last year. Honda's , Accord Hybrid and Insight with automatic transmission are eligible for the tax credits.
The federal tax credits are as follows:
- 2006 Civic Hybrid $2,100
- 2006 Accord Hybrid $1,300+
- 2006 Insight — automatic transmission $ 1,450
- 2006 Honda Accord Hybrids without updated control calibration qualify for a credit amount of $650
Various limitations to the credit may apply, depending on the specific circumstances of the customer, and is encouraging customers to the IRS or a tax advisor to determine if and how the tax credit will apply to their vehicle acquisition.
Customers are also encouraged to the IRS at for information on hybrid tax credit amounts applicable to Honda's 2005 model year hybrids purchased during 2006.