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Originally Posted by Mr. Kite
There is a tax incentive in the works in California. It was mentioned in the link that I posted earlier in this forum. It would allow a $3,000 deduction starting with the 2006 tax year. It is bill number AB 2616. If you want to check out the status of this bill on the official website, go to the following link and search for bill number 2616.
http://www.leginfo.ca.gov/bilinfo.htm |
I wasn't aware of this. Thanks for pointing it out.
Too bad they chose a $3000 tax deduction instead of, for example, a $250 tax credit. The end result is about the same, but it gives people with low taxable incomes the same incentive as people with higher incomes. I suppose the politicians know that most people who don't quite understand how taxes are calculated will be impressed much more by a $3000 deduction than a $250 credit.
By the way, the deduction will last until 100,000 qualifying hybrids are sold in California, so my guess is that it'll be good for 2 or 3 years.
Re: Tax Credit / California?
