National Energy Policy Act of 1992 provides tax deductions
for the cost of clean-fuel vehicles and refueling facilities
placed in service after January 1, 2002, as follows:
facilities qualify for a tax deduction of up to $100,000
fuel vehicles qualify as follows:
To find out
how to take these tax deductions, you may request Publication
535, Business Expenses, from the Internal Revenue
Service (IRS). To order a free copy of Publication 535, call
the IRS at (800) 829-3676.
to $37,500 for a truck or van with a GVW of more than 26,000
pounds or a bus with 20-adult seating capacity.
to $3,750 for a truck or van between 10,000 and 26,000 pounds
to $1,500 for other vehicles.
vehicles qualify, but only the incremental cost associated
with the clean fuel will be taken into account.
Fuel Excise Tax Comparisons
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