Tax Rules of the Road
by AccountingWeb on
Here are the key requirements for the new hybrid-vehicle credit:
- The vehicle must be placed in service in 2006 through 2010.
- Only buyers of new hybrid vehicles can claim the credit; it doesn’t apply to used vehicles.
- The person claiming the credit must use the vehicle or offer it for lease.
- If a qualified vehicle is leased to a consumer, the leasing company may claim the credit.
- The vehicle must be used predominantly within the United States.