Puerto Rico Slashes Excise Taxes on Hybrids and EVs

Written By Thomas Ponco on Monday, August 27, 2012 | 8:30 AM

The first Sports Cars are considered to be (though the term would not be coined until after World War One) the 3 litre made in 1910 Vauxhall 20 hp (15 kW) and 27/80PS Austro-Daimler (designed by Ferdinand Porsche).

Published August 27, 2012


By Jeff Cobb


Puerto Rico’s main revenue source is taxation of its people. Excise taxes are presently levied on items including lottery winnings, cigarettes, liquor, hotel rooms, cement, imports and vehicles.



That notwithstanding, Puerto Rico wants to cut combustible fuel usage, and to encourage its citizens to do so, has just added to existing excise tax breaks for the purchase of a hybrid or all-electric vehicle.



The new law signed by Gov. Luis G. Fortuno grants a rebate on the excise tax that’s a good deal for hybrids, and a better one for less fuel-consuming electric vehicles (EVs).



Under the new rules, previous excise tax refunds of up to $2,000 have been increased. For a one-year period beginning July 1, up to 65 percent of excise tax reimbursement is being offered for hybrids – up to a maximum of $8,000 – and through 2016 for EVs a 100-percent excise tax exemption is offered.



The hybrid offer beginning July 1 is reduced progressively for subsequent year. After July 1, 2013, the hybrid excise tax break is cut to 50-percent maximum, not to exceed $6,000 for the period through July 1, 2014. Following this, the excise tax break in successive years is cut to a maximum of 40 percent, not to exceed $4,000, and then a maximum of 20 percent, not to exceed $2,000.



tax-news.com






List of sports cars Puerto Rico Slashes Excise Taxes on Hybrids and EVs A car may be a sporting automobile without being a sports car. New sports cars Puerto Rico Slashes Excise Taxes on Hybrids and EVs Performance modifications of regular, production cars, such as sport compacts, sports sedans, muscle cars, hot hatches and the like, generally are not considered sports cars, yet share traits common to sports cars. They are sometimes called " Affordable Sports Cars Puerto Rico Slashes Excise Taxes on Hybrids and EVs" for marketing purposes for increased advertising and promotional purposes. Performance cars of all configurations are grouped as Sports and Grand tourer cars or, occasionally, as performance Cheap Sports Cars Puerto Rico Slashes Excise Taxes on Hybrids and EVs.

You are now Read Puerto Rico Slashes Excise Taxes on Hybrids and EVs And The Link for this article is http://esportscars.blogspot.com/2012/08/puerto-rico-slashes-excise-taxes-on.html
Enjoy The Article Puerto Rico Slashes Excise Taxes on Hybrids and EVs.