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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 ...
The Act also created the Gas Guzzler Tax [3] which applies to the sales of vehicles with official EPA-estimated gas mileage below certain specified levels. In 1980, the tax was $200 for a fuel efficiency of 14 to 15 miles per gallon, and was increased to $1800 in 1985. In 1980, the tax was $550 for fuel efficiencies of 13 mpg and below, and was ...
In 1994 the U.S. National Institute of Standards and Technology (NIST) introduced gasoline gallon equivalent (GGE) as a metric for fuel economy for natural gas vehicles. NIST defined a gasoline gallon equivalent (GGE) as 5.660 pounds of natural gas, and gasoline liter equivalent (GLE) as 0.678 kilograms of natural gas. [18]
The mileage for dual-fuel vehicles, such as E85 capable models and plug-in hybrid electric vehicles, is computed as the average of its alternative fuel rating—divided by 0.15 (equal to multiplying by 6.666)—and its gasoline rating. Thus an E85-capable vehicle that gets 15 mpg on E-85 and 25 mpg on gasoline might logically be rated at 20 mpg.
For gas cars with the best gas mileage, Honda offers the following: The 2024 Honda Civic starts at $23,950 with 35 mpg combined. The 2024 Honda Accord starts at $27,895 with up to 29 mpg in the ...
This excellent fuel efficiency makes the IONIQ Hybrid a top contender if you’re prioritizing gas mileage. Plus, it has modern features and a comfortable ride that still feels a little luxe so ...
After days of services honoring former President Jimmy Carter, an official state funeral is set for Thursday at the Washington National Cathedral in Washington, D.C. Carter's state funeral is set ...
The law authorizes the Oregon Department of Transportation (ODOT) to set up a mileage collection system for 5,000 volunteer motorists beginning July 1, 2015. [18] ODOT may assess a charge of 1.5 cents per mile for up to 5,000 volunteer cars and light commercial vehicles and issue a gas tax refund to those participants. [3]