Tax Rules of the Road | AccountingWEB

Tax Rules of the Road

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.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.