Fillable Form Ia 8864 - Iowa Biodiesel Blended Fuel Tax Credit

Iowa Department of Revenue

2014 IA 8864

Iowa Biodiesel Blended Fuel Tax Credit

Name(s)

SSN or FEIN

Pass-Through Entity Name (if applicable)

Pass-Through FEIN

Tax Period Ending Date

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

biodiesel sold in Iowa during the tax year ..................................................

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

x $0.045

Multiply line 1 by line 2. Enter on Part II of the IA 148 Tax Credits

Schedule ......................................................................................

Pass-through through Biodiesel Blended Fuel Tax Credit from

partnership, LLC, S corporation, estate, or trust. Enter on Part II of the IA

148 Tax Credits Schedule and complete Part IV .......................................

Instructions

A Biodiesel Blended Fuel Tax Credit is

If the taxpayer has received any pass-through

available to retail dealers of gasoline who

Biodiesel Blended Fuel Tax Credit from a

operate motor fuel pumps at a retail motor fuel

partnership, LLC, S corporation, estate, or

site in Iowa. Tank wagons are considered retail

trust, indicate that amount on line 4. Also enter

motor fuel sites. To qualify for the tax credit,

the amount on Part II of the IA 148 Tax Credits

retail dealers must sell biodiesel blended fuel

Schedule, using tax credit code 52, and

with a minimum percentage of 5% by volume

provide the pass-through name and FEIN in

of biodiesel. The credit equals four and one

Part IV of the IA 148 Tax Credits Schedule.

half cents multiplied by the total number of

File a separate IA 8864 for each pass-through

gallons of biodiesel blended fuel sold during

Biodiesel Blended Fuel Tax Credit

received.

the tax year with a minimum of 5% biodiesel.

Also list the claims separately on Part II of the

Individuals and C corporations must claim the

IA 148 Tax Credits Schedule, providing each

tax credit on the IA 148 Tax Credits Schedule

pass-through name and FEIN in Part

IV.

in Part II, using tax credit code 52.

Any credit in excess of tax liability can be

If the taxpayer is a partnership, LLC, S

refunded or credited to tax liability for the

corporation, estate, or trust, this form must be

following year.

completed and included with the Iowa tax

return. The credit must be allocated to the

individual members in the ratio of each

member’s share of the earnings of the entity to

the entity’s total earnings. Show on Schedule

K-1, or on an attachment to Schedule K-1, the

credit for each member and instruct the members

to report the apportioned credit on line 4 of form

IA 8864 and include it with their tax returns.

IA 148 Tax Credits Schedule must be completed.

41-149 (07/24/14)

*1441149019999*

Form Ia 8864 - Iowa Biodiesel Blended Fuel Tax Credit - 2014

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