October 1st means half the credit

I couldn't let today go by without marking today is the dawn of half the credit for Toyota. After the automaker sold more than 60,000 hybrid cars, anyone who buys a Toyota for the next six months can only receive half the federal tax credit.

Here are the credit amounts for Oct. 1, 2006 - March 31, 2007:

* 2005 Prius - $1,575
* 2006 Prius - $1,575
* 2006 Highlander 4WD Hybrid - $1,300
* 2006 Highlander 2WD Hybrid - $1,300
* 2006 Lexus RX400h 2WD - $1,100
* 2006 Lexus RX400h 4WD - $1,100
* 2007 Camry Hybrid - $1,300
* 2007 Lexus GS 450h - $775

Here are the credit amounts for April 1, 2007 - September 30, 2007:

* 2005 Prius - $787.50
* 2006 Prius - $787.50
* 2006 Highlander 4WD Hybrid - $650
* 2006 Highlander 2WD Hybrid - $650
* 2006 Lexus RX400h 2WD - $550
* 2006 Lexus RX400h 4WD - $550
* 2007 Camry Hybrid - $650
* 2007 Lexus GS 450h - $387.50

Beginning October 1, 2007, taxpayers who buy a Toyota hybrid cannot claim the related tax credit.

More information on how the federal tax credit on hybrid cars works can be found here and here are the forms needed are listed.