For tax purposes, a motor vehicle designed to carry people on highways or streets and with a seating capacity of not more than the driver and 8 passengers.
The definition does not include:
- an ambulance
- a taxi or bus used in a business to transport passengers
- a hearse
- any motor vehicles acquired to be sold, rented, or leased in the course of carrying on a business of selling, renting, or leasing motor vehicles.
Related Articles
- Buying Out An Automobile Lease
- Government Announces 2009 Automobile Rates & Deduction Limits
- Deducting Automobile Expenses For Work
- New Automobile Benefits On-line Calculator
Print This Post