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purchaser of gasoline used on a farm for farming purposes, for
other off-highway business use, by local transit systems, and by
the operators of intercity, local, or school buses. See secs.
34, 6420, 6421.
Section 34(a) provides in relevant part:
SEC. 34(a) General Rule.--There shall be
allowed as a credit against the tax imposed
by this subtitle for the taxable year an
amount equal to the sum of the amounts
payable to the taxpayer–-
* * * * * * *
(2) under section 6421 with
respect to gasoline used during the
taxable year (A) otherwise than as
a fuel in a highway vehicle or (B)
in vehicles while engaged in
furnishing certain public passenger
land transportation service * * *
Section 6421(b) provides in relevant part:
SEC. 6421(b) Intercity, Local, or School Buses.--
(1) Allowance.--Except as
provided in paragraph (2) and
subsection (i), if gasoline is used
in an automobile bus while engaged
in–-
(A) furnishing (for
compensation) passenger land
transportation available to
the general public * * *
* * * * * * *
the Secretary shall pay (without
interest) to the ultimate purchaser of
such gasoline an amount equal to the
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Last modified: May 25, 2011