WASHINGTON, D.C. – The Internal Revenue Service has acknowledged that the 2007 Saturn Aura Hybrid meets the requirements of the Alternative Motor Vehicle Credit as a qualified hybrid motor vehicle, according to the Web site accounting.smartpros.com/. The credit amount for the hybrid vehicle certification of the 2007 Saturn Aura Hybrid is $1,300. Taxpayers may claim the full amount of the allowable credit up to the end of the first calendar quarter after the quarter in which the manufacturer records its sale of the 60,000th vehicle. For the second and third calendar quarters after the quarter in which the 60,000th vehicle is sold, taxpayers may claim 50 percent of the credit. For the fourth and fifth calendar quarters, taxpayers may claim 25 percent of the credit. No credit is allowed after the fifth quarter.

Originally posted on Fleet Financials

0 Comments