IRS OKs '07 tax credits for Toyota hybrids

WASHINGTON, Sept. 29 (UPI) -- The U.S. Internal Revenue Service has approved three 2007 Toyota vehicles for the same credit amounts as the 2006 versions of these vehicles.

The models are the 2007 Toyota Prius, Highlander Hybrid and Lexus RX 400h, Toyota Motor Sales U.S.A. Inc. said Friday in a news release.

Both 2006 and 2007 Toyota and Lexus hybrids purchased on or after Oct. 1, 2006, are subject to reduced federal hybrid tax credit amounts.

Purchasers of the Toyota Prius, Camry Hybrid and Highlander Hybrid may currently qualify for a federal tax credit. Toyota Prius models purchased on or after Jan. 1, 2006, and before Oct. 1, 2006, may qualify for a tax credit of $3,150. Highlander Hybrids and Camry Hybrids purchased on or after Jan. 1, 2006, and before Oct. 1, 2006, may qualify for a tax credit of $2,600.