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Special Tax Break on New Car Purchases Available in States With No Sales Tax

Special Tax Break on New Car Purchases Available in States With No Sales Tax

By Admin on June 10, 2009

Under the American Recovery and Reinvestment Act of 2009, taxpayers who buy a new motor vehicle this year are entitled to deduct state or local sales or excise taxes paid on the purchase. The IRS and Treasury have determined that purchases made in states without a sales tax – such as Alaska, Delaware, Hawaii, Montana, New Hampshire and Oregon – can also qualify for the deduction.

Posted in Tax Deductions, Tax News | Tagged American Recovery and Reinvestment Act, new vehicle tax break, tax break

Seven Facts about the New Sales Tax Deduction for Vehicle Purchases

Seven Facts about the New Sales Tax Deduction for Vehicle Purchases

By Admin on April 22, 2009

Taxpayers who buy a new car or several other types of motor vehicles this year may be entitled to a special tax deduction when they file their 2009 federal tax returns next year. The tax break is part of the American Recovery and Reinvestment Act of 2009.

Posted in Tax Deductions | Tagged American Recovery and Reinvestment Act, motor vehicle purchases, tax break, tax deduction

Special Tax Break Available for New Car Purchases This Year

By Admin on April 1, 2009

The Internal Revenue Service announced yesterday that taxpayers who buy a new passenger vehicle this year may be entitled to deduct state and local sales and excise taxes paid on the purchase on their 2009 tax returns next year.

Posted in Tax Deductions, Tax News | Tagged deduction, excise taxes, local sales taxes, new car deduction, tax break

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