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Washington DC, Monday, March 30th 2015.
In a stunning move today, Obama signed an executive order declaring all naturally-powered vehicles tax free in all regards. Covered by the executive order are solar powered cars, even with an onboard auxiliarry engine, as long as the primary means of locomotion is solar. To qualify, the car has to travel 30 miles on flat terrain at a speed of 30 miles per hour. Also covered are sailboats or other vessels that are primarily wind powered.
"As long as the sailboat can make headway upwind when no current is present, the boat is considered wind powered." Said Jose Mastiff, head of the lobbying effort that led the charge on the new executive order.
A special provision exempts long-haul cargo ships with sails from needing to tack upwind, as long as they are primarily used for sailing on routes over 300 or more nautical miles downwind.
It is unclear how the IRS will treat motor-sailers that have difficulty making headway upwind, or what test will be used to determine success, but the executive order is a huge win for clean energy proponents as well as recreational sailors and associated businesses.
Other clean energy area were omitted from the executive order. Said Mastiff, "We tried to get safe nuclear-powered thorium reactors included, but the Chinese lobbied heavily aginst it, saying they had not bought-up all the rare-earth mines yet, where thorium is a discarded byproduct. And you have to conceed when the Chinese lobby a sitting President."
The executive order gives very broad advantages to using sailboats on a daily basis. According to Mastiff, "The tax free status means all purchases made at marine chandleries are tax deductible, all expenses of owning a sailboat are tax deductible, all interest is tax deductible, and any income made using a sailboat is tax deductible. This is a huge wind shift in the industry. It's expected that shore-side condos will soon be torn down to make room for more marinas."
Regards,
Brad
In a stunning move today, Obama signed an executive order declaring all naturally-powered vehicles tax free in all regards. Covered by the executive order are solar powered cars, even with an onboard auxiliarry engine, as long as the primary means of locomotion is solar. To qualify, the car has to travel 30 miles on flat terrain at a speed of 30 miles per hour. Also covered are sailboats or other vessels that are primarily wind powered.
"As long as the sailboat can make headway upwind when no current is present, the boat is considered wind powered." Said Jose Mastiff, head of the lobbying effort that led the charge on the new executive order.
A special provision exempts long-haul cargo ships with sails from needing to tack upwind, as long as they are primarily used for sailing on routes over 300 or more nautical miles downwind.
It is unclear how the IRS will treat motor-sailers that have difficulty making headway upwind, or what test will be used to determine success, but the executive order is a huge win for clean energy proponents as well as recreational sailors and associated businesses.
Other clean energy area were omitted from the executive order. Said Mastiff, "We tried to get safe nuclear-powered thorium reactors included, but the Chinese lobbied heavily aginst it, saying they had not bought-up all the rare-earth mines yet, where thorium is a discarded byproduct. And you have to conceed when the Chinese lobby a sitting President."
The executive order gives very broad advantages to using sailboats on a daily basis. According to Mastiff, "The tax free status means all purchases made at marine chandleries are tax deductible, all expenses of owning a sailboat are tax deductible, all interest is tax deductible, and any income made using a sailboat is tax deductible. This is a huge wind shift in the industry. It's expected that shore-side condos will soon be torn down to make room for more marinas."
Regards,
Brad
