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I found the following information on SEVERAL sites promoting their Hydrogen Cells. Before you read it, it is TOTALLY bogus, as you will see... (just click the link and read it for yourself!)
WARNING! DO NOT BELIEVE THIS. ALWAYS CHECK THE LAWS YOURSELF BEFORE MAKING A DECISION TO USE SOMETHING AS SUPPORT FOR YOUR INVENTIONS!!! THE TRUTH IS FREQUENTLY ALTERED BY THOSE WHO SEEK GREATER CONTROL OF EITHER US OR (more frequently) OUR MONEY!!! Clean Fuel Tax Deductions Following are excerpts from IRS Publication 535 viewable at http://www.irs.gov/publications/p535/ch12.html#d0e10094. You are allowed a limited deduction for the cost of clean-fuel vehicle property and clean-fuel vehicle refueling property you place in service during the tax year. Clean-burning fuels. The following are clean-burning fuels. - Natural gas.
- Liquefied natural gas.
- Liquefied petroleum gas.
- Hydrogen.
- Electricity.
- Any other fuel that is at least 85% alcohol (any kind) or ether.
Deduction for Clean-Fuel Vehicle Property The deduction for this property may be claimed regardless of whether the property is used in a trade or business Clean-fuel vehicle property. Clean-fuel vehicle property is either of the following kinds of property. Any property installed on a motor vehicle (including installation costs) to enable it to be propelled by a clean-burning fuel - The property is an engine (or modification of an engine) that can use a clean-burning fuel, or
- The property is used to store or deliver that fuel to the engine or to exhaust gases from the combustion of that fuel.
For vehicles that may be propelled by both a clean-burning fuel and any other fuel, your deduction is generally the additional cost of permitting the use of the clean-burning fuel.
ANY TIME YOU FIND DOCUMENTS THAT AFFECT YOUR RESPONSIBILITY TO THE GOVERNMENT (especially when it comes to money) CHECK THEM OUT!When you do go to the IRS site and pull up Pub 535, Chapeter 12, you'll find it's called "Business Expenses for use in filling out 2007 returns." Chapter 12 is nothing more than directions to turn for more help. If you're looking for more information on tax credits, then I recommend The EnergyStar.gov website. There, you can find the whole truth located on their page titled: Federal Tax Credits for Energy Efficiency. The Department of Energy site is providing a link to something called "DSIRE", the Database for State Incentives for Renewables & Efficiency. There's a real nice map that's clickable When I pulled up my home state of Arizona, I found there were a whole bunch of resources within a few mles of my house! For you guys who are making these units and hoping to make some money to feed your families, check out the ENERGY INDEPENDENCE AND SECURITY ACT OF 2007, Sec. 134. Loan guarantees for fuel-efficient automobile parts manufacturers. That's enough for now. ~
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