Investors

The U.S. government provides dollar-for-dollar Tax Credits (not deductions) to private consumers and commercial fleets that convert to some form of hybrid fuel technology¹.

The IRS wording that qualifies our system for this tax credit states:

Qualified Alternative Fuel Vehicle.
This is a new or converted vehicle fueled solely by compressed natural gas, liquefied natural gas, liquefied petroleum gas, hydrogen, any liquid that is at least 85 percent methanol, or a mixture of one of these fuels and a petroleum-based fuel, and that meets certain additional requirements.
This wording is found on the instructions for IRS form 8910, under the section titled: Alternative Motor Vehicle,Qualified Alternative Fuel Vehicle.

Here are instructions for form 8910: Instructions for form 8910¹

There are other forms used mainly for commercial customers, including form 3800.

The Federal Government actively promotes Hydrogen technology research: http://www.hydrogen.gov/

The opinion expressed below, comes from a Mr. Jacobs,
IRS Complex Tax Law Representative, 75-15658

"IRS Form 8911 clearly states that this (Hydrogen Generator) would qualify as alternative fuel vehicle refueling property because it is injecting hydrogen into a motor vehicle.

"Since you (may) have both personal and business use of a vehicle, you would figure the credit on form 8911 as follows:

"Based upon the percentage of business use of the vehicle you would multiply the cost of the property times that percentage of business use and put that amount on line 2 of the form (The total cost of the equipment would have been placed on line 1.

"Line 5 will figure the credit based upon 30% of the line 2 amount.
This portion of the credit will go to IRS form 3800, line 1w.

"The remainder of the cost of the property will be placed on form 8911, line 10 and 30% of that amount will be computed there. This personal use portion of the credit will go to your tax return form 1040, line 55.

"Please note that this is a non-refundable credit. In both cases the
credit can reduce income tax but not create a refund and is subject to alternative minimum tax limits.

"Also note that when you bring the business portion of the credit to the Form 3800, that will come over to form 1040 as a non-refundable credit. Therefore when you get to line 15b of Form 8911 that business portion of the credit will pop up again."

¹This claim is NOT a guarantee that you will qualify for this tax credit and is NOT to be construed as tax advice. While it is true that the HPS systems described in this program converts a vehicle into a Qualified Alternative Fuel Vehicle (as defined by I.R.S. Form 8910, Alternative Motor Vehicle Tax Credit), only you and your tax advisor can determine if you personally qualify and are eligible for this tax credit. Hydrogen Power Systems will provide you with Proof of Purchase & Installation documentation required by the IRS. You and your tax advisor are then responsible for preparing and filing the necessary forms to the IRS to claim this tax credit.


Hydrogen Enhanced Combustion Systems that Reduce Fuel Expense and Pollution for Trucks, Autos, Boats and Generators.
	Home>Benefits>Tax Credits
	Federal and State Tax Incentives The U.S. government provides dollar-for-dollar Tax Credits (not deductions) to private consumers and commercial fleets that convert to some form of hybrid fuel technology¹. The IRS wording that qualifies our system for this tax credit states: Qualified Alternative Fuel Vehicle. This is a new or converted vehicle fueled solely by compressed natural gas, liquefied natural gas, liquefied petroleum gas, hydrogen, any liquid that is at least 85 percent methanol, or a mixture of one of these fuels and a petroleum-based fuel, and that meets certain additional requirements. This wording is found on the instructions for IRS form 8910, under the section titled: Alternative Motor Vehicle,Qualified Alternative Fuel Vehicle. Here is the form: IRS Alternative Motor Vehicle Tax Credit Form 8910¹ Here are instructions for form 8910: Instructions for form 8910¹ There are other forms used mainly for commercial customers, including form 3800. Here is the form 3800: General Business Credit tax form 3800¹ Here are the instructions for form 3800: Instructions for form 3800¹ The Alternative Fuel Vehicle Credit : Applies to passenger cars and trucks (and commercial vehicles) that operate... on a mixture of Hydrogen and a petroleum-based fuel. The Alternative Fuel Vehicle Credit can range from $2,500 to $4,000 for vehicles with a gross vehicle weight of less than 8,500 pounds, And from $8,000 to $32,000 for vehicles with a gross vehicle weight ranging from more than 8,500 to 26,000 pounds, respectively (see IRC § 30B(e) and IRS Form 8910). Here are other related sites of interest: http://www.taxalmanac.org/index.php/Sec.179A._Deduction_for_clean-fuel_vehicles_and_certain_refueling_property http://www.irs.gov/businesses/article/0,,id=175456,00.html http://www.irs.gov/newsroom/article/0,,id=157557,00.html California and other states have many programs in place to encourage retrofitting existing vehicles, for example: http://www.afdc.energy.gov/afdc/progs/view_ind_mtx.php/in/RBATE/CA/0 The Federal Government actively promotes Hydrogen technology research: http://www.hydrogen.gov/ The opinion expressed below, comes from a Mr. Jacobs, IRS Complex Tax Law Representative, 75-15658 "IRS Form 8911 clearly states that this (Hydrogen Generator) would qualify as alternative fuel vehicle refueling property because it is injecting hydrogen into a motor vehicle. "Since you (may) have both personal and business use of a vehicle, you would figure the credit on form 8911 as follows: "Based upon the percentage of business use of the vehicle you would multiply the cost of the property times that percentage of business use and put that amount on line 2 of the form (The total cost of the equipment would have been placed on line 1. "Line 5 will figure the credit based upon 30% of the line 2 amount. This portion of the credit will go to IRS form 3800, line 1w. "The remainder of the cost of the property will be placed on form 8911, line 10 and 30% of that amount will be computed there. This personal use portion of the credit will go to your tax return form 1040, line 55. "Please note that this is a non-refundable credit. In both cases the credit can reduce income tax but not create a refund and is subject to alternative minimum tax limits. "Also note that when you bring the business portion of the credit to the Form 3800, that will come over to form 1040 as a non-refundable credit. Therefore when you get to line 15b of Form 8911 that business portion of the credit will pop up again." ¹This claim is NOT a guarantee that you will qualify for this tax credit and is NOT to be construed as tax advice. While it is true that the HPS systems described in this program converts a vehicle into a *Qualified Alternative Fuel* *Vehicle* (as defined by I.R.S. Form 8910, Alternative Motor Vehicle Tax Credit), only you and your tax advisor can determine if you personally qualify and are eligible for this tax credit. Hydrogen Power Systems will provide you with Proof of Purchase & Installation documentation required by the IRS. You and your tax advisor are then responsible for preparing and filing the necessary forms to the IRS to claim this tax credit. Home \| Company \| Benefits \| Products \| News \| Support \| Contact Us © 2008 Hydrogen Power Systems, Inc. All rights reserved. Info@HpsTech.com * *

The opinion expressed below, comes from a Mr. Jacobs, IRS Complex Tax Law Representative, 75-15658

The opinion expressed below, comes from a Mr. Jacobs,
IRS Complex Tax Law Representative, 75-15658