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Iowa Form 4136 Motor Fuel Tax Credit

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Question
Do I qualify for the Iowa Form 4136 Motor Fuel Tax Credit?

Answer

Who May Claim Credit:

Effective July 1, 2019, the fuel tax rate for Gasoline changed as a result of a calculated change to the fuel distribution percentage. Rates for all other fuel types were unchanged.

Resident and nonresident individuals, fiduciaries of estates and trusts, and C corporations may claim a tax credit on their income tax returns for fuel that was purchased during the tax period to be used in unlicensed vehicles for non-highway purposes.

A partnership, LLC, S corporation, estate, or trust with fuel purchased during the tax period for use in unlicensed vehicles for non-highway purposes is eligible for a tax credit that is apportioned to the members. The pass-through entity must file the IA 4136 with its return. On IA Schedule K-1 or on an attachment to IA Schedule K-1, report the tax credit for each member and instruct the members to report the apportioned tax credit on line 6 of form IA 4136 and include it with their tax returns.

 

 

 

 


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Article Details
Views: 1430 Created on: Jun 15, 2013
Date updated: Jan 03, 2020
Posted in: States, Iowa

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