Taxpayers are to be advised that provisions of the Alternative Motor Vehicle Credit including the Qualified Hybrid Motor Vehicle Credit, Qualified Alternative Fuel Motor Vehicle Credit (QAFMV), and Advanced Lean Burn Technology Motor Vehicle Credit expire as of December 31, 2010.
The Alternative Motor Vehicle Credit was enacted by The Energy Policy Act of 2005 and provides various tax credit for certain energy efficient vehicles. The tax credits are available for vehicles acquired before January 1, 2011.The Alternative Fuel Motor Vehicle Credit was enacted by the Energy Policy Act of 2005 and includes separate credits for four distinct categories of vehicles:
- Qualified Hybrid Vehicles,
- Qualified Fuel Cell Vehicles,
- Qualified Alternative Fuel Motor Vehicles (QAFMV) and Heavy Hybrids, and
- Advanced Lean-Burn Technology Vehicles.
Internal Revenue Code Section 30B provides for the Alternative Motor Vehicle Credit. Notice 2006-9 provides procedures for manufacturers to certify passenger auto and light trucks as Qualified Hybrid Vehicles and Advance Lean Burn Vehicles and Notice 2007-46 provides procedures for heavy hybrid vehicles. Notice 2006-54 provides procedures for manufacturers to certify vehicles as Qualified Alternative Fuel Motor Vehicles (QAFMV). Notice 2008-33 provides procedures for manufacturers to certify Fuel Cell Vehicles.
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