Corporate Sales Tax Advantage
Harness the spirit of adventure in your business travels from behind the wheel of a new Range Rover or Range Rover Sport. In addition to increased driving pleasure, you’ll also help add to your company’s bottom line – when used at least half the time for business, these premium Land Rover vehicles qualify for an accelerated tax depreciation schedule.*
Because Range Rover and Range Rover Sport have Gross Vehicle Weight Ratings (GVWR) of greater than 6,000 pounds,** they can be depreciated up to 95% in the first four years of ownership. That’s something both you and your accountant will appreciate. And that gives Land Rover ownership a major advantage over a similarly priced luxury car.
TAX DEPRECIATION COMPARISONS
These comparisons illustrate the tax depreciation advantages for business owners who purchase a new Range Rover or Range Rover Sport before December 31, 2016.† Please consult your tax advisor to determine how this information can be applied to your individual business situation.
* Individual tax situations may vary. The information presented was accurate at time of publishing. Federal rules and tax guidelines are subject to change. Consult your tax advisor for complete details on rules applicable to your business.
** With Gross Vehicle Weight Ratings (GVWR) of more than 6,000 pounds, these Land Rover models are classified as “heavy SUVs.” Gross Vehicle Weight Rating (GVWR) is the manufacturer’s rating of the vehicle’s maximum weight when fully loaded with people and cargo.
† Comparisons based on Section 179 and 168(k) of the Internal Revenue Code, which allows for additional first year depreciation for eligible vehicles and reflects figures for owners who purchase vehicles for 50 percent or greater business use and place vehicles in service by December 31, 2016.
1. Range Rover depreciation can continue at $3,398 in Year Five, and $1,699 in Year Six, at which point it is fully depreciated. Range Rover Sport depreciation can continue at $2,246 in Year Five, and $1,123 in Year Six, at which point it is fully depreciated.
2. Luxury car depreciation can continue at $1,875 per year for each succeeding year until the vehicle is fully depreciated or sold.
© 2016 Jaguar Land Rover North America, LLC.