QAFMVQualified Alternative Fuel Motor Vehicles
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Thus, the regulations allow a qualified alternative fuel motor vehicle (QAFMV) credit under IRC sections 30B(a)(4) and (e) equal to the incremental cost of the new QAFMV multiplied by a percentage.
As noted in IRS Notice 2006-54, the QAFMV credit may be claimed "if the vehicle is placed in service after December 31, 2005, and is purchased before January 1, 2011.
If a propane bus is sold to a tax-exempt entity, the QAFMV credit is provided to the seller instead of the purchaser (who cannot use the credit anyway).