Alternative Motor Vehicle Credit
- Alternative Motor Vehicle Credit
- A tax credit given to individuals who purchase vehicles that derive their power from alternative energy sources. Taxpayers are eligible to receive this nonrefundable alternative motor vehicle tax credit if they are the original purchasers of a vehicle after January 1, 2006. The vehicle must also qualify and the resulting tax credit will vary depending on the model.
The alternative motor vehicle credit is designed to encourage the purchase and use of alternative fuel vehicles. The tax credit is claimed on Form 8910, and is credited to the taxpayer after all other nonrefundable credits have been subtracted from the taxpayer's tax liability. If the vehicle is used for business, then it is carried to Form 3880 for the general business credit. Information on qualifying vehicles can be found on the IRS website.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
Alternative fuel vehicle — refers to a vehicle that runs on a fuel other than traditional gasoline or diesel; any method of powering an engine that does not involve solely petroleum (e.g. electric car, gasoline electric hybrid, solar powered). Due to a combination of heavy … Wikipedia
Ford Motor Company — Ford redirects here. For other uses, see Ford (disambiguation). Ford Motor Company … Wikipedia
Hybrid electric vehicle — The Toyota Prius is the world s top selling hybrid car, with cumulative global sales of 2.36 million units by August 2011.[1] A hybrid electric vehicle (HEV) is a type of hybrid vehicle and electric vehicle which combines a conventional internal … Wikipedia
Electric vehicle — Sustainable energy Renewable energy … Wikipedia
Flexible-fuel vehicle — For other types of vehicles, see Alternative fuel vehicle and Hybrid vehicle. The Ford Model T was the first commercial flex fuel vehicle. The engine was capable of running on gasoline or ethanol, or a mix of both. A flexible fuel vehicle (FFV)… … Wikipedia
Natural gas vehicle — NGV redirects here. For the art gallery in Melbourne, Australia, see National Gallery of Victoria. Fueling (Fiat Multipla) … Wikipedia
Mobile Emission Reduction Credit (MERC) — A Mobile Emission Reduction Credit (MERC) is an emission reduction credit generated within the transportation sector. The term “Mobile Sources” refers to motor vehicles, engines, and equipment that move, or can be moved, from place to place. [ US … Wikipedia
Mobile emission reduction credit — Energy portal A mobile emission reduction credit (MERC) is an emission reduction credit generated within the transportation sector. The term “mobile sources” refers to motor vehicles, engines, and equipment that move, or can be moved, from place… … Wikipedia
Sport utility vehicle — SUV redirects here. For other uses, see SUV (disambiguation). 1995 1998 Ford Explorer built on a light truck chassis A sport utility vehicle (SUV) is a generic marketing term for a vehicle similar to a station wagon, but built on a light truck… … Wikipedia
DeLorean Motor Company — Industry Automotive Founded October 24, 1975 Headquarters Detroit, Michigan … Wikipedia
