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Tax Planning › Automotive Industry

Fox Rothschild LLP

How to Capitalize on the Auto Loan Tax Deduction in the One Big Beautiful Bill

Fox Rothschild LLP on

The automotive industry has been abuzz with talk of the auto loan interest deduction included in the One Big Beautiful Bill — the sweeping federal tax and spending plan that was signed into law on July 4 by President Trump. ...more

Mayer Brown

US Treasury Issues Proposed Regulations on Section 30D Clean Vehicle Credit

Mayer Brown on

Electric vehicle and electric battery manufacturers and critical mineral producers will want to take note of a notice of proposed rulemaking (NPRM) on Section 30D of the Internal Revenue Code of 1986, as amended, released by...more

Stikeman Elliott LLP

GST/HST Input Tax Credit Claims: Does the Supporting Documentation Need to be Issued by the Supplier?

Stikeman Elliott LLP on

On June 9, 2022, the Tax Court of Canada (“TCC”) allowed CFI Funding Trust’s (“CFI”) appeal in relation with the input tax credits (“ITC”) it claimed for prepaid rent paid in connection with the securitization of automobile...more

Pullman & Comley, LLC

Survival of the Electric Car Tax Credit

Pullman & Comley, LLC on

Section 30D of the Internal Revenue Code (the “Code”) provides a tax credit of $2,500 to $7,500 per plug-in electric drive motor vehicle depending on the size of the battery. The tax credit generally may be applied by the...more

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