Can you help me untangle this question about species?

Only animals of the same species can produce viable offspring, right? I got to searching the scientific classification of wolves and coyotes because they have been interbreeding and creating a whole new sub species.

Wolves:
Kingdom: Animalia
Phylum: Chordata
Class: Mammalia
Order: Carnivora
Family: Canidae
Genus: Canis
Species: C. lupus

Coyotes:
Kingdom: Animalia
Phylum: Chordata
Class: Mammalia
Order: Carnivora
Family: Canidae
Genus: Canis
Species: C. latrans

The only place on that chart where they differ IS in the species.
So is it the genus (Canis in this case) that is the key for interbreeding, and not the species?