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Taxes

The electric-car charger tax break for individuals and for businesses was not renewed by Congress, while the Department of Energy gives grants to companies to develop low-cost chargers, according USA Today.

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First-Year Bonus Depreciation Increased to 100 Percent

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (H.R. 4853) was signed into law by President Obama on Dec. 17, 2010. The legislation includes an extension of the Small Business Jobs and Credit Act of 2010's "bonus depreciation" allowance through the end of 2011, and increases that amount from 50 percent to100 percent. Here's what it means to fleets.

Congress to End Green Car Tax Credit

Congress declined to include the credit as part of the $858 billion tax bill approved by the Senate on an 81-19 vote Wednesday. A House vote, without the green-car tax provision, is expected today.

Fleets are Facing an Era of Higher Taxation

In 2009, of every $100 spent on fleet, $5 was consumed by taxes. This compares to $4.10 in 2006 and $3 in 1983. The recession has caused sales and property tax revenues to plummet creating widespread shortfalls in government budget funding. States and other governmental jurisdictions are scrambling to find new ways to generate new tax revenues. Again, commercial fleets are in their cross-hairs.

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