Stimulus Package Auto Tax Deduction Expires 12/31/2009

Update! The automotive sales tax deduction expires at the end of December! Read below for details!

So here is the official release of the Economic Stimulus Package regarding auto sales tax deductions. I hope you find all of the information you need and yes this does apply to new Toyotas!

February 17, 2009
CONSUMER AUTO INCENTIVE INCLUDED IN FINAL STIMULUS BILL (H.R. 1) “AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009”
***NOTE: INCENTIVE EFFECTIVE UPON PRESIDENT’S SIGNATURE***
Today, the President is expected to sign the American Recovery and Reinvestment Act of 2009. Upon becoming law, car buyers will be permitted to deduct sales/excise tax from their yearly income tax bill for vehicles purchased before the end of this year.
What Taxes are Deductible? 1

State Motor Vehicle Sales

Local Motor Vehicle Sales

Motor Vehicle Excise Taxes
What Customers Qualify for the Deduction?

Individual customers with modified adjusted gross income of less than $125,000 or joint-filers making less than $250,000 a year in 2009 would qualify for the deduction.

Deductible as an “above the line” (for itemizers and non-itemizers) deduction on federal tax return.
Effective Date

New vehicle purchases shall apply to purchases on or after the date of enactment
(expected February 16, 2009) until Dec. 31st, 2009.
What New Vehicles Qualify for the Deduction?

Any new vehicle under 8,500 pounds gross vehicle weight.

New vehicles of any model year – when the original use commences with the taxpayer.

Any vehicle sold for under $49,500 qualifies for the full deduction. Consumers may deduct sales taxes on the first $49,500 of any vehicle sold above this price.
THIS IS A GENERALIZED SUMMARY. For more specific information on eligible customers, taxes and applicability, dealers are encouraged to consult with a qualified tax attorney or professional.
1 “For purposes of this section, the term ‘qualified motor vehicle taxes’ means any state or local sales or excise tax imposed on the purchase of a qualified motor vehicle.”- (Text of H.R. 1)
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So you say you’re different….

It is easy to say you are different but how do you prove it?  Your actions! Since 1974 our family has believed buying & selling cars can and more importantly should be fun & easy.  When a customer visits Stapp Interstate Toyota – Scion we really do try everything in our power to make them feel welcome as guests.  I can’t figure out why other dealers choose to do business any other way, but as you know, A LOT do.  On of my favorite things about being at our dealership everyday is hearing the stories from our customers who had been somewhere else first.  Funny thing is….it is very easy to be nice, honest & fair.  I wish I could say we had a magic formula that we discovered from years of trying different things, but all we do is treat our customers as valued friends. For over 30 years we’ve made the buying process different by stepping outside the traditional way of doing things such as…

· We listen to how YOU want to buy a car rather than telling you how you are going to buy one.

· We DO NOT have an F&I department. That’s right you only have to deal with 1 person when you come in to buy a vehicle.

· We thank our customers by giving them a 10% OFF VIP discount card for anything else they ever by at Stapp Interstate Toyota for the vehicle for as long as they own it.

· We only offer Toyota Financial Services products. This means if you choose to purchase additional Vehicle Service Coverage, Guaranteed Auto Protection, or Pre-Paid Maintenance it will be insured by a reputable and solid company and will be honored at any Toyota authorized facility in the entire United States.

When we built the new facility on I-25 my wife and I would stay up at night after we put the kids to bed and try to figure out reasons why people might not choose to follow us out to the Interstate.  When we’d come up with a reason, we’d brainstorm on a way to hopefully change their mind.  Here’s a list of a couple of the “solutions”….

· Wireless internet access throughout the entire dealership

· A family restroom

· A REAL media room with big screen TV & leather chairs

· A customer work center w/ telephone, computer and a door for when you need a little privacy

· Amy’s Cafe (this area is named after my late Grandmother who was a major staple in the history & success of Longmont Toyota) offering coffee, snacks, etc.

· We created a “Kid’s Corral” with a matchbox car race track, TV, magnet board, chalk board, books, games, bean bags & more

· LOTS & LOTS of upfront customer parking spots (this was a HUGE complaint at the old location on Main Street in Longmont)

· A dedicated 3 lane enclosed customer drive in the service area for easy drop off and delivery

· A park inspired outdoor waiting area (our customers who bring in their dogs love this)

· A receptionist to welcome you (rather than 4 guys in plaid suits smoking cigarettes)

· A dedicated 3 bay glass enclosed climate controlled delivery area

Ok, I’ll stop….I think you get the point.  The cool part is a couple of the solutions have turned into our customers new favorite aspects of the Stapp Interstate Toyota experience.

I recently challenged the company who does our advertising to stop saying “we are different” and actually “SHOW” our customer that we are indeed different.  Please look for these commercials in the near future and let me know what you think, better yet come by a give us a shot to prove to you that buying or servicing your vehicle can actually be fun, but only at a dealership who is willing to prove that they are different!

Brion Stapp

Stapp Interstate Toyota – Scion