Used for nonbusiness purposes definition

Used for nonbusiness purposes means the preponderance of use is for other than business purposes.
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Used for nonbusiness purposes means the preponderance of use is for other than business purposes. The preponderance of use for other than business purposes shall be deemed not to be satisfied if: (i) the motor vehicle is expensed on the taxpayer's federal income tax return pursuant to Internal Revenue Code § 179; (ii) more than 50 percent of the basis for depreciation of the motor vehicle is depreciated for federal income tax purposes; or (iii) the allowable expense of total annual mileage in excess of 50 percent is deductible for federal income tax purposes or reimbursed pursuant to an arrangement between an employer and employee.
Sample 1Sample 2Sample 3
Used for nonbusiness purposes means the preponderance of use is for other than business purposes. The preponderance of use for other than business purposes shall be deemed not to be satisfied if: (i) the motor vehicle is expensed on the taxpayer's federal income tax return pursuant to Internal Revenue Code
Sample 1Sample 2

Examples of Used for nonbusiness purposes in a sentence

  • Other1) Occasionally, as assigned by the Lead Pastor, teach in worship services.2) Convey MCC’s Christian message and carry out its mission by exemplifying and promoting biblical values and fostering life-giving relationships with congregants, visitors, vendors and other staff, while serving in this ministry role.

  • ITEM 281.Item Details($) Appropriations($)First Year Second Year First Year Second Year FY2001 FY2002 FY2001 FY2002 G.1. The Department shall establish an audit unit that will identify those individuals who have received personal property tax relief for vehicles that do not meet the "Used for nonbusiness purposes" criteria as defined in §58.1-3523 of the Code of Virginia.

Related to Used for nonbusiness purposes

  • Public Purposes means the public purpose of financing $1,500,000.00 of building remodeling and improvement projects, consisting of projects included in the District's 2015-2016 building remodeling and improvement program;

  • Permitted Purposes means evaluating the Project, preparing a Proposal, and any other use permitted by the RFP or this Participation Agreement;

  • Common Purposes shall include the purposes of managing and maintaining the Premises, the Buildings and in particular the Common Portions, rendition of services in common to the Unit Owners, collection and disbursement of the Common Expenses and dealing with the matters of common interest of the Unit Owners and relating to their mutual rights and obligations for the beneficial use and enjoyment of their respective Units exclusively and the Common Portions in common.

  • Adjusted for inflation means increased in accordance with the formula for inflation adjustment set forth in Exhibit C to the Master Settlement Agreement.

  • Permitted Purpose means any activity or process to be undertaken or supervised by a Staff member of one Party during the term of this Agreement, for which purpose authorised disclosure of the other Party’s Confidential Information or Intellectual Property is a prerequisite in order to enable such activity or process to be accomplished;

  • export of services means the supply of any service when,––

  • Non-U.S. Person means a Person who is not a U.S. Person.