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An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
Alternative fuel vehicles: Currently the only pre-approved alternative fuel vehicle is the Honda Civic GX, which runs on compressed natural gas (CNG), a fossil fuel that burns cleaner than standard gasoline. [12] Currently the standard credit for a qualified alternative fuel vehicle is $4,000.
The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally ...
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President Joe Biden's administration expects to release short-term guidance on clean fuel tax credits on Friday and leave final decisions to President-elect Donald Trump's incoming administration ...
The federal government offers many programs to support the development and implementation of biofuel-based replacements for fossil fuels. [116] Landowners and operators who establish, produce, and deliver biofuel crops may qualify for partial reimbursement of startup costs as well as for annual payments. [116]
Mar. 12—Hydrogen has always been part of the oilfield, but its potency as an alternative fuel and its low-carbon appeal have given it a heightened prominence that is increasing by the month.
Hydrogen fuel cells also have the potential to replace or supplement utility-bought electricity by supplying energy on-site in the form of a stationary power device. Major corporations like eBay , Google, Wal-Mart , Coca-Cola , FedEx , Adobe and Sierra Nevada have been using some form of fuel cells for several years and are reporting hundreds ...