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The United States is home to the second largest passenger vehicle market of any country in the world, second to China since 2009. [1] Overall, there were an estimated 263.6 million registered vehicles in the United States in 2015, most of which were passenger vehicles. [2]
Vehicle size classes are series of ratings assigned to different segments of automotive vehicles for the purposes of vehicle emissions control and fuel economy calculation. . Various methods are used to classify vehicles; in North America, passenger vehicles are classified by total interior capacity while trucks are classified by gross vehicle weight rating (GV
The tax horsepower or taxable horsepower was an early system by which taxation rates for automobiles were reckoned in some European countries such as Britain, Belgium, Germany, France and Italy; some US states like Illinois charged license plate purchase and renewal fees for passenger automobiles based on taxable horsepower.
Government departments often create classification systems for taxation or regulating vehicle usage (e.g. vehicles that require a specific license or are restricted to certain roads). Some jurisdictions may determine vehicle tax based upon environmental principles, such as the user pays principle.
The IRS mileage reimbursement rate is a deduction you can take for using a vehicle for qualifying purposes. This includes business, medical, moving or charitable purposes.
The EV tax credit is a benefit offered by the government to encourage people to buy electric vehicles. You might think of it as a discount that you can get when you file your taxes.
The vehicle sales tax is a tax imposed by city and state governments on the purchase of the car. The rate can vary from state to state and in some instances from county to county.
Passenger-carrying vehicles or PCVs are motor vehicles that are subject, in their respective jurisdictions, and/or under the respective insurance programs that define the term, to requirements beyond those typically applying to private passenger cars.