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Toyota Prius Gas-Electric Car Qualifies for Tax Break

August 13, 2002

Toyota Motor Corp.'s Prius car qualified for a $2,000 U.S. tax deduction, the first gasoline-electric vehicle to be certified under a program to encourage sales of low-pollution cars and trucks. Buyers of new 2001, 2002 and 2003 models can claim the deduction for the year when the car first was put to use, the Internal Revenue Service said in a statement. The IRS said in May that it would expand the deduction from electric vehicles to the hybrid cars and trucks.
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In the USA, a tax assessed by some states either on a lump-sum basis for a purchased vehicle or on a periodic basis on rental payments in the case of a leased vehicle.

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