Credit Application: Dozens of Small Roads Apply Tax Credits Toward Trackwork Costs, But Others Hold Off Until the IRS Eases Tax Liability Concerns

This article describes the confusion over the use of Railroad Track Maintenance Credits and IRS tax liability. The credits, enacted on January 1, 2005, provide $500 million to Class IIs and Class IIIs to improve infrastructure that would otherwise be delayed. Section 45 G of the U.S. tax code, which makes the funds available, expires December 31, 2007. But some small-road operators are uncertain if the credits will affect their taxes years after applying the credits, or if money spent on maintenance one year is eligible for a credit on the following year’s tax form. The article also describes several projects that have been completed with the credits.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/4175009
• Authors:
  • Stagl, Jeff
• Publication Date: 2006-4

Language

• English

Media Info

• Media Type: Print
• Features: Photos;
• Pagination: pp 18, 20-21
• Serial:
  • Progressive Railroading
  • Volume: 49
  • Issue Number: 4
  • Publisher: Trade Press Publishing Corporation
  • ISSN: 0033-0817
  • Serial URL: http://www.progressiverailroading.com

Subject/Index Terms

• TRT Terms: Credit; Maintenance of way; Regional railroads; Regulations; Short line railroads; Taxes
• Subject Areas: Economics; Finance; Law; Railroads;

Filing Info

• Accession Number: 01024940
• Record Type: Publication
• Source Agency: UC Berkeley Transportation Library
• Files: BTRIS, TRIS
• Created Date: May 31 2006 7:55AM