In recent years, tax laws were revised to benefit businesses large and small, which means companies of every size have an opportunity to save. Coupes, sedans, small trucks, and small SUVs can deduct up to $18,100 per vehicle1, while larger trucks, SUVs, and vans can deduct up to 100% of the purchase price2. Consult your tax advisor for tax implications and savings opportunities.
Federal tax depreciation deductions are only available for vehicles used in a trade or business, and are subject to change without notice. Each taxpayers' tax situation is unique-please consult your tax advisor to determine your business' vehicle depreciation deduction. For more information, visit irs.gov. This advertisement is for informational purposes only, and should not be construed as tax advice, or as a promise of the availability or amount of any potential tax benefit or reduced tax liability.
| Up to $18,100 per vehicle (No aggregate limitation) |
Up to 100% of purchase price per vehicle (No per-vehicle or aggregate limitation) |
|---|---|
| Chevrolet Camaro | Chevrolet Blazer |
| Chevrolet Corvette | Chevrolet Colorado 2,8L Diesel 4WD |
| Chevrolet Cruze | Chevrolet Suburban |
| Chevrolet Impala | Chevrolet Tahoe |
| Chevrolet Sonic | Chevrolet Traverse |
| Chevrolet Spark | Chevrolet Silverado 1500 |
| Chevrolet Malibu | Chevrolet Silverado 2500HD |
| Chevrolet Volt | Chevrolet Silverado 3500HD |
| Chevrolet Bolt EV | Chevrolet Silverado 3500HD Chassis Cab |
| Chevrolet Colorado | Chevrolet Silverado 4500HD, 5500HD and 6500HD Chassis Cabs |
| Chevrolet Equinox | Chevrolet Express Passenger Van |
| Chevrolet Trax | Chevrolet Express Cargo Van |
| GMC Canyon | Chevrolet Express Cutaway |
| GMC Terrain | Chevrolet Low Cab Forward |
| Cadillac ATS | GMC Canyon Crew Cab 4WD |
| Cadillac CT6 | GMC Yukon |
| Cadillac CTS | GMC Yukon XL |
| Cadillac XTS | GMC Acadia |
| Cadillac XT4 | GMC Sierra 1500 |
| Buick LaCrosse | GMC Sierra 2500HD |
| Buick Regal | GMC Sierra 3500HD |
| Buick Cascada | GMC Sierra 3500HD Chassis Cab |
| Buick Encore | GMC Savana Passenger Van |
| Buick Envision | GMC Savana Cargo Van |
| GMC Savana Cutaway | |
| Cadillac Escalade | |
| Cadillac Escalade ESV | |
| Cadillac XTS | |
| Buick Enclave |
1 Federal tax depreciation deductions are only available for vehicles used in a trade or business and are subject to change without notice. Each taxpayers' tax situation is unique; please consult your tax advisor to determine your business' vehicle depreciation deduction. Trucks, vans and sport utility vehicles as defined in the Internal Revenue Code with a GVWR over 6,000 lbs. and placed in service during 2020 qualify for immediate depreciation deductions of up to 100% of the purchase price. Passenger automobiles as defined in the Internal Revenue Code (including SUVs, trucks and crossovers with a GVWR up to 6,000 lbs.) and placed in service during 2020 qualify for immediate depreciation deductions of up to $18,100 per vehicle. For more information, visit irs.gov. This advertisement is for informational purposes only, and should not be construed as tax advice, or as a promise of availability or amount of any potential tax benefit or reduced tax liability. Trucks, vans and sport utility vehicles as defined in the Internal Revenue Code with a GVWR over 6,000 lbs. and placed in service during 2020 qualify for immediate depreciation deductions of up to 100% of the purchase price. Passenger automobiles as defined in the Internal Revenue Code (including SUVs, trucks and crossovers with a GVWR up to 6,000 lbs.) and placed in service during 2019 qualify for immediate depreciation deductions of up to $18,100 per vehicle. For more information, visit irs.gov. This advertisement is for informational purposes only, and should not be construed as tax advice, or as a promise of availability or amount of any potential tax benefit or reduced tax liability.
2 Trucks, vans and sport utility vehicles as defined in the Internal Revenue Code with a GVWR over 6,000 lbs. and placed in service during 2019 qualify for immediate depreciation deductions of up to 100% of the purchase price.