Nissan Hybrid Cars and Tax Breaks
Federal tax cuts for hybrid vehicle consumers in the United States have begun to decrease. However, Internal Revenue Service revealed that Nissan hybrid cars will continue to get the Alternative Motor Vehicle Credit.
According to research and study conducted by the IRS, Nissan marketed 2,094 qualifying cars to retailers within in the first quarter of 2007. The permitted credit sum for the 2007 Altima Hybrid is $2,350. Among the released Nissan hybrid cars, the Altima is the sole certified car. Taxpayers are allowed to get the complete sum of the credit up to the end of the first quarter in which the car maker accounts for its sale of the 60,000th car. The declaration occurs subsequent to the conclusion of the IRS' quarterly evaluation of the number of hybrids - including those of Ford, Toyota, and Nissan hybrid cars – sold.
The complete credit is only obtainable for a regulated time. Thus, individuals who seek the tax credit should buy any of the Nissan hybrid cars as early as possible. Taxpayers may also acquire the complete amount of the permissible credit up to the conclusion of the first three months of the year past the quarter in which the automaker accounts the sale of their 60,000th car.
After three months in which the 60,000th car is sold, taxpayers can acquire 50 percent of the credit within the second and third quarters. Twenty five percent of the credit can be claimed within the fourth and fifth calendar quarters. After the fifth quarter, no credit is permitted.
Foremost of the Nissan hybrid cars is the Nissan Altima Hybrid Electric set with Nissan cornering lights. This Nissan hybrid features a 2.5 L QR25DE engine, CVT and electric motor or generator. Nissan had an agreement with Toyota Motor Corp. to borrow several of its hybrid technology to produce an all-new and modern Altima. Nissan, Japan's third largest car manufacturer, has emphasized that subsequent Nissan hybrid cars will be centered on in-house hybrid technology.
There are over forty-thousand Altima hybrids manufactured at Nissan's Smyrna plant each year. For the 2007 model year, sales of the Nissan hybrid cars are limited to Rhode Island, Connecticut, California, Massachusetts, Maine, New York, New Jersey, and Vermont. In a few years more other U.S. states wii be able to avail of the 2007 Nissan hybrid model.