Defining “chassis” and “body” for excise tax purposes | KPMG | GLOBAL

Notice 2016-81: Defining “chassis” and “body” for excise tax purposes

Defining “chassis” and “body” for excise tax purposes

The IRS today released an advance version of Notice 2016-81 as interim guidance relating to the excise tax imposed under section 4051 on the first retail sale of heavy trucks, trailers, and tractors.

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Notice 2016-81 [PDF 21 KB] specifically provides interim definitions of the terms “chassis” and “body” for purposes of section 4051(a)(1) and for purposes of applying the safe harbor provision in section 4052(f)(1). The notice also requests comments on the interim definitions. The deadline for comments is May 9, 2017.

 

For more information, contact a tax professional with KPMG’s Excise Tax Practice group:

Taylor Cortright | +1 (202) 533 6188 | tcortright@kpmg.com

Deborah Gordon | +1 (202) 533 5965 | dkgordon@kpmg.com

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