2017 Section 179 Tax Deduction

Small business customers may claim up to $510,000 tax deduction.  

What is Tax Section 179?
The Section 179 Deduction was enacted as part of the IRS tax code in 2008 to help small businesses with their vehicle and equipment purchases.  This law allows commercial and fleet customers to claim the full purchase price of certain Chevrolet vehicles totaling up to $510,000 (for eligible vehicles) as a tax deduction*.

The amounts that can be deducted depend on the vehicles purchased.  For example, passenger vehicles bought by a business may qualify for deductions of $11,160, $11,560, or $25,000.  A business that spends up to $2,030,000 on multiple vehicles can take a deduction of up to $510,000.

Allowed Amounts for Eligible Chevrolet Vehicles:

 Vehicle (2017MY-18MY) Deduction Allowed
 Camaro Up to $11,1602
 City Express Up to $11,5602
 Colorado Up to $11,5602
 Corvette Up to $11,1602
 Cruze Up to $11,1602
 Equinox Up to $11,5602
 Express Cargo Up to $510,0003 (aggregate*)
 Express Cutaway Up to $510,0003 (aggregate*)
 Express Passenger Up to $510,0003 (aggregate*)
 Impala Up to $11,1602
 Low Cab Forward Up to $510,0003 (aggregate*)
 Malibu Up to $11,1602
 Silverado (short box) Up to $25,0004
 Silverado (standard or long box) Up to $510,0003 (aggregate*)
 Silverado Chassis Cab Up to $510,0003 (aggregate*)
 Sonic Up to $11,1602
 Spark Up to $11,1602
 SS Sedan Up to $11,1602
 Suburban Up to $25,0004
 Tahoe Up to $25,0004
 Traverse Up to $25,0004
 Trax Up to $11,5602

Additional Tax Section 179 Facts
  • Vehicle titles must be in the company's name
  • An eligible vehicle must be used for business at least 50 percent of the time
  • Businesses can still take advantage of other incentives and Business Choice offers in addition to these possible tax savings
For more information, visit www.chevrolet.com/tax-deductions

Vehicles must be placed in service during the 2017 tax year to be eligible.
* Total deduction aggregate; no per-vehicle purchase price limit.
1 Each individual's tax situation is unique.  Therefore, please consult your tax professional to confirm vehicle depreciation deduction and tax benefits.  For more details, visit www.irs.gov. 
2 For vehicles that qualify as passenger automobiles under the Internal Revenue Code, there is an $11,160 per-vehicle depreciation deduction cap or $11,560 for certain SUVs, trucks and vans placed in service during 2017.
3 The tax incentives are available for depreciable tangible property that is acquired by purchase for use in the active conduct of a trade or business.  Additional limitation based on purchases.  For the 2017 tax year, the aggregate deduction of $510,000 under Internal Revenue Code Section 179 is most beneficial to small businesses that place in service no more than $2,030,000 of "Section 179 property" during the year.  For every dollar spent on Section 179 property in excess of the overall limit of $2,030,000, the $510,000 expense-tax deduction decreases by a dollar.  Certain vehicles, models and restrictions apply.  Tax benefits may change or be eliminated at any time without notice.  Consult your tax professional for details.
4 For vehicles that qualify as sport utility vehicles, including certain trucks and vans, under the Internal Revenue Code, the maximum amount that may be expensed is $25,000 of the total purchase price.  The $25,000 expense cap contributes to the $510,000 limit and $2,030,000 investment limit under Section 179. 

Darling's does not provide tax, legal, or accounting advice.  This material is provided for informational purposes only.  This material does not constitute tax advice.  Individuals should consult with a tax professional with regard to their individual tax situation.