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Dec 12, 2007

TAX CREDITS * USA - Offering for heavy-duty hybrid purchases

The Internal Revenue Service (IRS) in the US has announced some hefty tax breaks are now available for companies purchasing certain heavy-duty hybrids

Washington,DC,USA -Truck News (CAN) -10 Dec 2007: -- ... A tax credit of up to US$12,000 is available to US fleets that purchase heavy-duty hybrids, while those buying alternative-fuelled heavy vehicles can claim a credit of up to US$32,000... Qualifying vehicles include hybrids manufactured by Freightliner Custom Chassis and International Truck and Engine, equipped with the Eaton hybrid-electric system... To view a list of trucks that qualify for the tax credit, visit www.irs.gov and enter 'QAFMV' into the search box located at the upper right corner of the site...

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posted by Unknown @ 12:11 PM  0 comments

Jun 12, 2007

Tax Refund * Canada - Carriers operating reefers, idling reduction devices could be eligible for

The Ontario Trucking Association (OTA) has learned of a recent Federal Court decision that provides for an expanded exemption from tax on diesel fuel used for heating or cooling

Toronto, Ont,CAN -Truck News, by Adam Ledlow -12 June 2007: -- OTA officials learned of the ruling through the association’s tax advisors at Deloitte & Touche... The decision could present an opportunity for carriers operating refrigerated units and/or idling reduction devices to apply for a refund on federal excise tax paid in the last two years on fuel used to operate the equipment...

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posted by Unknown @ 6:45 AM  0 comments

Feb 1, 2007

Tax Credits * USA - Shippers wait for, on hybrid trucks

FedEx, others balk at vehicles' high costs until Treasury details 2005 law

Washington,DC,USA -Commercial Appeal (Memphis,TN,USA), by Richard Powelson -Jan 31, 2007: -- FedEx has been trying out high-mileage, low-pollution gas/electric hybrid trucks that work great except for one big problem. They cost up to twice as much as standard delivery trucks, William Logue, a FedEx executive vice president, told the Senate Energy and Natural Resources Committee Tuesday. FedEx and other shippers likely would use more of the hybrid trucks if the Department of the Treasury approved details for hybrid commercial truck tax credits passed by Congress in 2005, he said. But without the tax credits, very few companies are committing to the technology, Logue said...

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posted by Unknown @ 4:30 PM  0 comments