Form 8896 - Low Sulfur Diesel Fuel Production Credit Form
Download a blank fillable Form 8896 - Low Sulfur Diesel Fuel Production Credit Form in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 8896 - Low Sulfur Diesel Fuel Production Credit Form with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
18896
Low Sulfur Diesel Fuel Production Credit
OMB No. 1545-1914
Form
(Rev. December 2006)
Attach to your tax return.
Attachment
Department of the Treasury
142
Sequence No.
Internal Revenue Service
Name(s) shown on return
Identifying number
1
1
Low sulfur diesel fuel produced (in gallons)
2
2
Multiply line 1 by $.05
3
3
Qualified capital costs limitation (see instructions)
4
4
Total low sulfur diesel fuel production credits allowed for all prior tax years
5
5
Subtract line 4 from line 3
6
6
Enter the smaller of line 5 or line 2
7
7
Low sulfur diesel fuel production credit from partnerships, S corporations, and cooperatives
8
Add lines 6 and 7. Cooperatives go to line 9; partnerships and S corporations, report this amount
on Schedule K; all others, report this amount on the applicable line of Form 3800 (e.g., line 1q
8
of the 2006 Form 3800)
9
9
Amount allocated to the patrons of the cooperative
10
Subtract line 9 from line 8. Report this amount on the applicable line of Form 3800 (e.g., line 1q
of the 2006 Form 3800)
10
General Instructions
did not exceed 205,000 barrels for the
Additional Information
1-year period ending on December 31,
For more details, including basis
Section references are to the Internal
2002. To figure the average daily
reduction, see section 45H.
Revenue Code.
domestic refinery run or retained
What’s New
production, only include refineries that
Specific Instructions
were refineries of the refiner or a related
The tax liability limit is no longer
person (within the meaning of section
figured on this form; instead, it must be
Use lines 1 through 6 to figure any low
613A(d)(3)) on April 1, 2003. However, a
figured on Form 3800, General Business
sulfur diesel fuel production credit from
refiner is not a small business refiner for
Credit.
your own trade or business.
a tax year if more than 1,500 individuals
Taxpayers that are not partnerships,
are engaged in the refinery operations of
Cooperative Election To Allocate
S corporations, or cooperatives, and
the business on any day during the tax
Credit to Patrons
whose only source of this credit is from
year.
A cooperative described in section
those pass-through entities, are not
Qualified Capital Costs
1381(a) can elect to allocate any part of
required to complete or file this form.
For each facility, qualified capital costs
the low sulfur diesel fuel production
Instead, they can report this credit
are costs paid or incurred to comply
credit among the patrons of the
directly on line 1q of Form 3800.
with the highway diesel fuel sulfur
cooperative. To make the election,
The IRS will revise this December
control requirements of the
attach a statement to the effect that the
2006 version of the form only when
Environmental Protection Agency (EPA)
cooperative elects to allocate the credit
necessary. Continue to use this version
during the period beginning January 1,
among the patrons eligible to share in
for tax years beginning after 2005 until a
2003, and ending on the earlier of:
patronage dividends on the basis of the
new revision is issued.
quantity or value of business done with
The date 1 year after the date on
Purpose of Form
or for the patrons for the tax year.
which the refiner must comply with
these EPA requirements with respect to
The election is not effective unless:
Use Form 8896 to claim the low sulfur
such facility or
diesel fuel production credit.
Made on a timely filed return
December 31, 2009.
(including extensions). However, if the
The credit generally is 5 cents for
Qualified capital costs include costs for
cooperative made an election on a tax
every gallon of low sulfur diesel fuel
the construction of new process operation
produced by a qualified small business
return for a tax year ending after
units or the dismantling and reconstruction
refiner during the tax year. However, the
December 31, 2002, and filed before
of existing process units to be used in the
total credits allowed for all tax years
June 15, 2006, but failed to attach the
production of low sulfur diesel fuel,
required statement, the cooperative may
cannot be more than the refiner’s
associated adjacent or offsite equipment
attach that statement to the first federal
qualified capital costs limitation on line
(including tankage, catalyst, and power
income tax return it files after June 14,
3. This credit is part of the general
supply), engineering, construction period
2006.
business credit.
interest, and site work.
Definitions
The cooperative designates the
In addition, the small business refiner
apportionment in a written notice mailed
must obtain certification from the IRS
Low Sulfur Diesel Fuel
to its patrons during the payment period
(which will consult with the EPA) that the
This is diesel fuel with a sulfur content of
described in section 1382(d).
taxpayer’s qualified capital costs will
15 parts per million or less.
result in compliance with the applicable
If you timely file your return without
EPA regulations. This certification must
Small Business Refiner
making an election, you can still make
be obtained not later than the date that
A small business refiner generally is a
the election by filing an amended return
is 30 months after the first day of the
refiner of crude oil with an average daily
with the statement within 6 months of
first tax year in which the credit is
domestic refinery run or average
the due date of the return (excluding
determined.
retained production for all facilities that
8896
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 37704F
Form
(Rev. 12-2006)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form Rmft-33-df - Schedule Dd-1 - Tax-free Sales Of Dyed Diesel Fuel Products To Other Than A Distributor Or Supplier In Illinois - 2010
Financial
Related Categories
Parent category: Legal