Fillable Form Ia 8864 - Iowa Biodiesel Blended Fuel Tax Credit

2016 IA 8864

Iowa Biodiesel Blended Fuel Tax Credit

https://tax.iowa.gov

Name(s)

SSN or FEIN

Pass-Through Entity (if applicable)

Pass-Through FEIN

Tax Period Ending Date

1. Total number of biodiesel fuel gallons containing a minimum of 5% pure

biodiesel sold at retail in Iowa during the tax year ................................................. 1.

2. Tax credit rate per gallon is $0.045 (four and one-half cents) ............................... 2.

x $0.045

3. Multiply line 1 by line 2. Enter in column K of Part II on the IA 148 Tax

Credits Schedule ................................................................................................... 3.

4. Pass-through through Biodiesel Blended Fuel Tax Credit from partnership, LLC,

S corporation, estate, or trust. Enter in column K of Part II on the IA 148 Tax

Credits Schedule and complete Part IV of the IA 148 ........................................... 4.

Instructions

the entity’s total earnings. On Schedule K-1 or

A Biodiesel Blended Fuel Tax Credit is

available to retail dealers of diesel who

on an attachment to Schedule K-1, report the

operate fuel pumps at an Iowa retail fuel site.

tax credit for each member and instruct the

Tank wagons are considered retail fuel sites.

members to report the apportioned tax credit

To qualify for the tax credit, retail dealers must

on line 4 of form IA 8864 and include the form

sell biodiesel blended fuel with a minimum

with their tax returns.

percentage of 5% by volume of biodiesel. A

If the taxpayer has received any pass-through

taxpayer may claim the Biodiesel Blended Fuel

Biodiesel Blended Fuel Tax Credit from a

Tax Credit even if the taxpayer reports the

partnership, LLC, S corporation, estate, or

same

biodiesel

gallons

for

the

Ethanol

trust, indicate that amount on line 4. Also enter

Promotion Tax Credit (Form IA 137).

the amount in column K of Part II on the IA 148

The tax credit equals four and one-half cents

Tax Credits Schedule; use tax credit code 52

multiplied by the total number of gallons of

in column I and leave column J blank. Provide

biodiesel blended fuel sold during the tax year

the pass-through name in column M and FEIN

with a minimum of 5% biodiesel.

in column N of Part IV on the IA 148 Tax

Credits Schedule.

Provide your name, SSN or FEIN, and tax

period

ending

date.

Individuals

and

File a separate IA 8864 for each pass-through

corporations must report the tax credit claim in

Biodiesel Blended Fuel Tax Credit received.

column K of Part II on the IA 148 Tax Credits

Also list the claims separately on Part II of the

Schedule; use tax credit code 52 in column I

IA 148 Tax Credits Schedule, providing each

and leave column J blank.

pass-through name and FEIN in Part IV.

If the retailer is a partnership, LLC, S

Any tax credit in excess of tax liability can be

corporation, estate, or trust, this form must be

refunded or credited to tax liability for the

completed and included with the Iowa tax

following year.

return. The tax credit must be allocated to the

individual members in the ratio of each

member’s share of the earnings of the entity to

IA 148 Tax Credits Schedule must be completed.

41-149 (06/04/16)

Form Ia 8864 - Iowa Biodiesel Blended Fuel Tax Credit - 2016

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