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Tax credit for taxi firms
This credit may be claimed by a corporation that holds a valid taxi permit and meets all prescribed conditions.
Taxi owner's permits are issued by the Commission des transports du Québec. The permits, including limousine permits and any other specialized taxi permits, are governed by the Act respecting transportation services by taxi.
The holder of a taxi owner's permit is the person in whose name the permit is issued. Where the permit is issued to more than one person, the persons named on the permit must designate one person as their representative.
For fiscal periods ending after June 13, 2001, the maximum credit is $500 for each taxi permit held by the corporation as a taxi owner.
Corporations that may apply for the credit
In order to claim the credit, the corporation must:
- hold at least one taxi owner's permit
- be resident in Québec on December 31 of a year included in its taxation year
- pay at least 90% of all the fuel costs respecting every automobile covered by the permit
How to apply for the credit
To apply for the credit, the corporation must complete form CO-1029.9, Crédit d'impôt pour une entreprise de taxi, and enclose the form with its income tax return or file the form no later than 12 months after the filing deadline for the return.
