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

INSTRUCTIONS FOR SCHEDULE K-62

GENERAL INFORMATION

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

only if the taxpayer claiming the credit furnishes evidence

Any individual, association, partnership, limited liability

of the purchase, during the period of time beginning with

company, limited partnership or corporation who makes

the date of purchase of such vehicle and ending on

expenditures for a qualified alternative-fueled motor vehicle

December 31 of the next succeeding calendar year, of 500

licensed in the state of Kansas or who makes expenditures

gallons of such ethanol and gasoline blend as may be

for a qualified alternative-fuel fueling station qualifies to

required or is satisfactory to the secretary of revenue.

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

PART A—ALTERNATIVE-FUELED MOTOR VEHICLE OR FUELING

For tax year 2013, and all tax years thereafter,

STATION INFORMATION (C Corporations only)

new credits shall be available to only corporations

that are subject to the Kansas corporate income tax (i.e.,

Required Documentation: You must enclose copies of

C corporations). New credits shall no longer be available to

invoices to substantiate the type of alternative-fueled vehicle

individuals, partnerships, S corporations, limited liability

and the conversion costs claimed in this section.

companies, and other pass-through entities.

Check the type of alternative-fuel expenditures made this

Carry Forward of Unused Credits: If this credit was earned

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

prior to tax year 2013 and a carry forward credit remains

enclose the required detailed documentation of expenditures.

available to a taxpayer, that taxpayer may continue to claim

that credit. However, that carry forward credit shall be subject

SECTION 1 — Gasoline or Diesel Vehicle Conversion

to limitations and requirements in place at the time the credit

was earned.

COLUMN A—Enter the date the alternative-fueled motor

Motor vehicles purchased on or after JULY 1, 2007 must

vehicle was placed in service.

be powered by a fuel source that meets the new definition

of alternative fuel which means “a combustible liquid

COLUMNS B through F—Enter required information for

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

each vehicle converted to use an alternative fuel. Use

biomass; or produced from biogas source, including any

the letter abbreviations in the general information section

nonfossilized, decaying, organic matter.” This definition

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

excludes vehicles purchased on or after July 1, 2007 and

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

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

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

derived liquid fuels and electricity from qualifying for the

COLUMN G—Enter the total cost incurred to convert the

credit. Alternative-fueled vehicles purchased on or after July

gasoline or diesel-powered vehicle to use an alternative

1, 2007 that qualify for the credit include:

fuel.

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

COLUMN H—For property placed in service on or after

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

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

alcohols with gasoline or other fuels - E-85

COLUMN I—For property placed in service on or after

• Fuels (other than alcohol) derived from and containing

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

85% or more biological materials (i.e., biodiesel) - B-100

maximum amount shown under Maximum Credit on or

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

For qualified alternative-fueled motor vehicles placed in

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

SECTION 2 — Factory-Equipped Vehicle

conversion or incremental cost, up to the maximum for the

gross vehicle weight from the chart that follows. “Conversion”

Required Documentation: Enclose a copy of the sales

cost means the cost that results from modifying a motor

invoice for each factory-equipped alternative-fueled vehicle

vehicle which is propelled by gasoline or diesel to be propelled

purchased. If using the Incremental Cost option, column

by an alternative fuel. “Incremental” cost means the cost that

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

results from subtracting the manufacturer’s list price of the

diesel-powered vehicle of the same model.

motor vehicle operating on conventional gasoline or diesel

fuel from the manufacturer’s list price of the same model

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

motor vehicle designed to operate on an alternative fuel.

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

you must enclose proof of purchase of at least 500 gallons

Maximum Credit on or after 1/1/2005

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

Gross Vehicle Weight (GVW)

Maximum Credit Available

of the next succeeding calendar year.

less than 10,000 lbs.

$ 2,400

COLUMNS A through F—Complete as in Section 1.

10,000 – 26,000 lbs.

$ 4,000

COLUMN G—Complete either column (G)(1) or (G)(2).

over 26,000 lbs.

$ 40,000

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

As an alternative to the above described credit, a taxpayer

enter the difference between the manufacturer’s list

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

price of the alternative-fueled vehicle and the

equipped by the vehicle manufacturer to operate on a blend

manufacturer’s list price of the same model vehicle

operated on gasoline or diesel fuel.

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

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

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