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Can a business receive the credit? How about a tax-exempt entity?

April 26, 2017Business credit entity tax-exempt

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Can a business receive the credit? How about a tax-exempt entity?

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Businesses are allowed to receive credits, but the amount of the credit may be limited by business-related tax laws. A tax-exempt entity may benefit indirectly from the credits through a provision that allows the seller of the vehicle to claim the credit in this case. The seller is required to disclose the amount of the credit to the tax-exempt purchaser, who may be able to achieve a reduction in the purchase price as a result.