HURRY!

There’s a new car tax credit that was introduced into the new stimulus bill, and its only good until December 31st, 2009.

Take advantage of the new car tax credit today when you purchase a new Corvette for sale from CorvetteSmart USA. The tax credit makes you eligible to receive between $400 – $600 back after the purchase of your new car. The tax credit is applied to new cars, light trucks, motor homes, and motorcycles and must be priced under $49,500. 

The deduction phases out for single taxpayers with an adjusted gross income of more than $125,000, and married taxpayers whose adjusted gross income exceeds $250,000.

The amount you save with your new car purchase will depend on your state sales tax rate and the price of your new qualifying vehicle. “If your state imposes a 4% sales tax and your car costs $40,000, the deduction will reduce your adjusted gross income by $1,600,” says tax publisher CCH.

How To Claim Your New Car Tax Credit

The credit is not issued during the car-buy process. You’ll receive the credit after you file your 2009 taxes, which are due on April 15, 2010. The ammount of the tax credit will be deducted as taxable income.