Whether it’s a pickup to haul heavy loads or a shuttle service van, Connecticut small-business owners want to know how to get a Section 179 deduction on their company vehicle. At our Nissan dealership near West Hartford, we’re here to help business owners get the Section 179 deduction they deserve so they can affordably grow their commercial fleet.
We know every little bit helps when it comes to saving money for your business, so we’re here to help! Hoffman Nissan wants you to get the most out of a Section 179 tax deduction, and we can help you buy an eligible vehicle that meets your business’s needs.
What Are the Section 179 Deduction Limitations?
In order to qualify for a Section 179 deduction, your business vehicle must meet the following requirements:
- Vehicle must be delivered and put into service by December 31, 2023
- Vehicle must be used for business at least 50% of the time
- Vehicle may be new or used, as long as it’s “new to you”
- Vehicle must be titled in the business’s name
Deduction limitations for 2023 are as follows:1
- 2023 Deduction Limit: $1,160,000 -- eligible on new and used equipment (must be new to the buyer).
- 2023 Bonus Depreciation: 80% -- valid on new and used equipment.
- Cars, trucks and vans weighing less than 6,000 pounds can receive a deduction of up to $20,200 in the first year.
- Vehicles weighing between 6,000 and 14,000 pounds can receive a maximum first-year deduction of up to $28,900 in 2023.
Buy a Section 179 Vehicle in Connecticut
If you’re looking for a car that your company requires, our local Nissan dealership is ready to help with your business needs. Shop our inventory of new Nissan vehicles for a model that Section 179 applies to and is perfect for whatever your company does. Our team will be happy to share with you which Nissan models are eligible for Section 179, so visit our showroom today.
Connecticut Nissan Dealership Near Me
Find out if the pickup you have your eye on meets Section 179 requirements, then take a Nissan test-drive nearby. Contact Hoffman Nissan to learn more and get behind the wheel of an eligible vehicle we know you’ll love. Our Connecticut Nissan dealer is waiting to help you buy a new or used car that’s eligible for the Section 179 incentive!
1Information accurate at time of publication. See dealer for details.