Fillable Form 8933 - Carbon Dioxide Sequestration Credit

8933

Carbon Dioxide Sequestration Credit

OMB No. 1545-2132

2014

Form

Attach to your tax return.

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To claim this credit, the qualified facility must capture at least 500,000 metric

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tons of carbon dioxide during the tax year.

Department of the Treasury

Attachment

165

Internal Revenue Service

Information about Form 8933 and its instructions is at

Sequence No.

▶

Identifying number

Name(s) shown on return

Qualified carbon dioxide captured at a qualified facility, disposed of in secure geological

storage, and not used as a tertiary injectant in a qualified enhanced oil or natural gas

recovery project.

1a Metric tons captured and disposed of (see instructions) .

b Inflation–adjusted credit rate.

21.51

c Multiply line 1a by line 1b .

Qualified carbon dioxide captured at a qualified facility, disposed of in secure geological

storage, and used as a tertiary injectant in a qualified enhanced oil or natural gas recovery

project.

2a Metric tons captured and used (see instructions) .

b Inflation–adjusted credit rate.

10.75

c Multiply line 2a by line 2b .

Carbon dioxide sequestration credit from partnerships and S corporations

Add lines 1c, 2c, and 3. Partnerships and S corporations, report this amount on Schedule K. All

others, report this amount on Form 3800, Part III, line 1x

General Instructions

How To Figure the Credit

Generally, the credit is $20 (adjusted for inflation) per metric

Section references are to the Internal Revenue Code unless

ton for qualified carbon dioxide captured at a qualified

otherwise noted.

facility, disposed of in secure geological storage, and not

Future Developments

used as a tertiary injectant in a qualified enhanced oil or

natural gas recovery project.

For the latest information about developments related to

Generally, the credit is $10 (adjusted for inflation) per

Form 8933 and its instructions, such as legislation enacted

metric ton for qualified carbon dioxide captured at a qualified

after they were published, go to

facility, used as a tertiary injectant in a qualified enhanced oil

Purpose of Form

or natural gas recovery project, and disposed of in secure

geological storage.

Use Form 8933 to claim the carbon dioxide sequestration

credit. The credit is allowed for qualified carbon dioxide that

For the purpose of calculating the credit, a metric ton of

is captured and disposed of or captured, used, and

carbon dioxide includes only the contained weight of the

disposed of by the taxpayer in secure geological storage.

carbon dioxide. The weight of any other substances, such as

Only carbon dioxide captured and disposed of or used as a

water or impurities, is not included in the calculation.

tertiary injectant within the United States or a U.S.

Inflation Adjustment

possession is taken into account when figuring the credit.

See Definitions below.

For 2014, the $20 and $10 rates are adjusted for inflation.

For the purposes of this form, a partner in a partnership

The 2014 credit rates are:

that has made a valid section 761(a) election will be

• $21.51 for qualified carbon dioxide captured at a qualified

considered the taxpayer. Partnerships with valid section

facility, disposed of in secure geological storage, and not

761(a) elections are not required to complete or file this form.

used as a tertiary injectant in a qualified enhanced oil or

Instead, the partner is required to complete and file this form

natural gas recovery project; and

in a manner commensurate with its undivided ownership

• $10.75 for qualified carbon dioxide captured at a qualified

interest in the qualified facility.

facility, disposed of in secure geological storage, and used

Taxpayers other than partnerships or S corporations

as a tertiary injectant in a qualified enhanced oil or natural

whose only source of this credit is from those pass-through

gas recovery project.

entities (other than a partnership with a valid 761(a) election)

are not required to complete or file this form. Instead, report

Definitions

this credit directly on line 1x of Form 3800, General Business

Qualified Carbon Dioxide

Credit.

Qualified carbon dioxide is carbon dioxide captured after

October 3, 2008, from an industrial source that:

8933

For Paperwork Reduction Act Notice, see instructions.

Form

(2014)

Cat. No. 37748H

Form 8933 - Carbon Dioxide Sequestration Credit - 2014

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