Public Transportation Vehicle [Internal Revenue] Law and Legal Definition

Pursuant to 26 CFR 1.190-2 (a) (2) [Title 26 Internal Revenue; Chapter I Internal Revenue Service, Department of the Treasury; Subchapter A Income Tax; Part 1 Income Taxes; Normal Taxes and Surtaxes; Computation of Taxable Income; Itemized Deductions for Individuals and Corporations], the term Public Transportation Vehicle means “a vehicle, such as a bus, a railroad car, or other conveyance, which provides to the public general or special transportation service (including such service rendered to the customers of a taxpayer who is not in the trade or business of rendering transportation services).”