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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.
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 ...
In court, the company argued that its deduction for loss should be allowed for tax purposes because it was permitted for accounting purposes. But the Court upheld the IRS regulations, saying, "There is no presumption that an inventory practice conformable to ' generally accepted accounting principles ' is valid for tax purposes.
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.
Under the U.S. tax code, businesses expenditures can be deducted from the total taxable income when filing income taxes if a taxpayer can show the funds were used for business-related activities, [1] not personal [2] or capital expenses (i.e., long-term, tangible assets, such as property). [3]
The Logistic Vehicle System Replacement (LVSR) is a family of heavy-duty military logistics vehicles of the United States Marine Corps (USMC) based on a common 5-axle ten-wheel drive (10x10) chassis. The vehicles vary in individual configuration by mission requirements, with three variants in service: a cargo, a wrecker and a tractor truck.
Special rules have also applied for bio fuel, recycling, and disaster assistance property. [9] Decoupling modification is a tax terminology resulting from the federal tax law enacted March 9, 2002, which created a new tax deduction for "bonus depreciation" that threatened to cost states very large amounts of revenue. [10]
The Commercial Utility Cargo Vehicle (CUCV; / ˈ k ʌ k v iː / KUK-vee), [1] later the Light Service Support Vehicle (LSSV), is a vehicle program instituted to provide the United States military with light utility vehicles based on a civilian truck chassis.