PUT FEDERAL TAX DEDUCTIONS AND CREDIT TO WORK FOR YOU
You could get more tax benefits when you purchase the vehicles that you need. Both large and small businesses may be
eligible to deduct up to 100% of the purchase price of qualifying vehicles. Beginning in 2024, businesses that purchase
qualifying electric vehicles may qualify for a federal income tax credit of up to $7,500.
2024 ELIGIBLE VEHICLES
UP TO 100% OF PURCHASE PRICE
• Sierra 1500/2500/3500 – Standard and Long Bed
• Sierra 3500 HD Chassis Cab
• Savana Cargo Van
• Savana Passenger Van (10+ passenger seating only)
• Savana Cutaway
UP TO $30,500 (PLUS UP TO 60% OF THE REMAINING PURCHASE PRICE)
• Sierra 1500 – Short Bed (including Denali)
• Yukon (including Denali)
• Yukon XL (including Denali)
• Acadia (including Denali)
• Canyon
• Savana Passenger Van (all except 10+ passenger seating)
UP TO $20,400
• Terrain (including Denali)
Disclaimer: Taxpayers may be entitled to U.S. federal income tax deductions and/or credits for purchases of vehicles that are placed in service in a trade or business during 2024. Determining the proper income tax treatment of any vehicle purchase requires careful consideration of several factors including, but not limited to, the applicable tax laws, regulations and guidelines, the characteristics and attributes of the particular vehicle purchased and the purchaser’s income tax situation. Each purchaser’s tax situation is unique and the available tax benefits and the applicable federal tax laws, regulations and guidelines are subject to change without notice. Therefore, customers must consult their tax advisor to determine the proper tax treatment of any vehicle purchase(s). For more information, visit www.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.
