Schedule K-62 - Alternative-Fuel Tax Credit (Page 3 of 4) in pdf

INSTRUCTIONS FOR SCHEDULE K-62

Partnerships and S Corporations: Partners, share-

GENERAL INFORMATION

holders, or members should enter on line 5 the percentage

Any individual, association, partnership, limited liability

that represents their proportionate share of the qualified

alternative-fuel expenditures by the partnership or S

company, limited partnership or corporation who makes

corporation (enclose computation).

expenditures for a qualified alternative-fueled motor vehicle

licensed in the state of Kansas or who makes expenditures

PART A—ALTERNATIVE-FUELED MOTOR VEHICLE OR

for a qualified alternative-fuel fueling station qualifies to

FUELING STATION INFORMATION

receive an income tax credit under K.S.A. 79-32,201.

Required Documentation: You must enclose copies of

Motor vehicles purchased on or after JULY 1, 2007 must

invoices to substantiate the type of alternative-fueled vehicle

be powered by a fuel source that meets the new definition

and the conversion costs claimed in this section.

of alternative fuel which means “a combustible liquid

Check the type of alternative-fuel expenditures made this

derived from grain starch, oil seed, animal fat or other

tax year, then complete the appropriate Section(s). Be sure to

biomass; or produced from biogas source, including any

enclose the required detailed documentation of expenditures.

nonfossilized, decaying, organic matter.” This definition

excludes vehicles purchased on or after July 1, 2007 and

SECTION 1 — Gasoline or Diesel Vehicle Conversion

fueled by methanol, natural gas, LP gas, hydrogen, coal-

derived liquid fuels and electricity from qualifying for the

COLUMN A—Enter the date the alternative-fueled motor

vehicle was placed in service.

credit. Alternative-fueled vehicles purchased on or after July

1, 2007 that qualify for the credit include:

COLUMNS B through F—Enter required information for

each vehicle converted to use an alternative fuel. Use

• E-85 Fuel - Mixtures containing 85% or more by volume

the letter abbreviations in the general information section

(but not less than 70%) of denatured ethanol and other

to the left for type of fuel; if “Other,” please specify. In

alcohols with gasoline or other fuels - E-85

column (F), enter a “B” for a bi-fueled vehicle, a “D” for

• Fuels (other than alcohol) derived from and containing

a dedicated vehicle, or an “F” for a flexible fuel vehicle.

85% or more biological materials (such as biodiesel) -

COLUMN G—Enter the total cost incurred to convert the

B-100

gasoline or diesel-powered vehicle to use an alternative

fuel.

For qualified alternative-fueled motor vehicles placed in

service on or after January 1, 2005, the credit is 40% of the

COLUMN H—For property placed in service on or after

conversion or incremental cost, up to the maximum for the

January 1, 2005, enter 40% of column (G).

gross vehicle weight from the chart that follows.

COLUMN I—For property placed in service on or after

“Conversion” cost means the cost that results from modifying

January 1, 2005, enter the lesser of column (H) or the

a motor vehicle which is propelled by gasoline or diesel to

maximum amount shown under Maximum Credit on or

be propelled by an alternative fuel. “Incremental” cost means

after 1/1/2005 in the “General Information” section.

the cost that results from subtracting the manufacturer’s

SECTION 2 — Factory-Equipped Vehicle

list price of the motor vehicle operating on conventional

gasoline or diesel fuel from the manufacturer’s list price of

Required Documentation: Enclose a copy of the sales

the same model motor vehicle designed to operate on an

invoice for each factory-equipped alternative-fueled vehicle

alternative fuel.

purchased. If using the Incremental Cost option, column

(G)(1), enclose documentation of the cost of a gasoline or

Maximum Credit on or after 1/1/2005

diesel-powered vehicle of the same model.

Gross Vehicle Weight (GVW)

Maximum Credit Available

For all tax years beginning after 12/31/99, if you are using

less than 10,000 lbs.

$ 2,400

the Cost of Vehicle option, column (G)(2) for an E-85 vehicle,

10,000 – 26,000 lbs.

$ 4,000

you must enclose proof of purchase of at least 500 gallons

over 26,000 lbs.

$ 40,000

of E-85 fuel from date of vehicle purchase to December 31

of the next succeeding calendar year.

As an alternative to the above described credit, a taxpayer

COLUMNS A through F—Complete as in Section 1.

may claim a credit for the purchase of a new motor vehicle

COLUMN G—Complete either column (G)(1) or column

equipped by the vehicle manufacturer to operate on a blend

(G)(2).

of 85% ethanol and 15% gasoline not to exceed the lesser

of 5% of the cost of the vehicle or $750. This credit is allowed

Column (G)(1) - Incremental Cost. Under this option

only if the individual claiming the credit furnishes evidence

enter the difference between the manufacturer’s list

of the purchase, during the period of time beginning with

price of the alternative-fueled vehicle and the

manufacturer’s list price of the same model vehicle

the date of purchase of such vehicle and ending on

operated on gasoline or diesel fuel.

December 31 of the next succeeding calendar year, of 500

gallons of such ethanol and gasoline blend as may be

Column (G)(2) - Cost of Vehicle. Under this option, enter

required or is satisfactory to the secretary of revenue.

the total cost of the alternative-fueled vehicle.

Schedule K-62 - Alternative-Fuel Tax Credit Page 3

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