Fuel Alternatives

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Application form 5110.74 and additional information are available from the: Bureau of Alcohol, Tobacco and Firearms National Revenue Center, Spirits Unit A, 550 Main Street, Room 8002, Cincinnati, OH 45202-3263 1 - 800 - 398 - 2282 or (513) 684 - 7150 Email: natlrevctr@cinc.atf.treas.gov
Tax Credits Alcohol fuel producers may qualify for *TAX CREDITS* (tax credits come right off the total of your tax liability, not a deduction.) There is up to 60 cents per gallon Federal tax credit for every gallon of fuel alcohol you produce. A number of states offer further tax incentive on property and income. For the IRS publication on tax credits for fuel alcohol and bio diesel CLICK HERE . There are up to three Federal IRS tax forms for different types of tax credits: FORM 8849 , FORM 720. Did you know there is a Federal $2000 tax deduction up to $50,000 (not tax credit) for either purchasing an alcohol-fueled vehicle or a conversion device to convert your vehicle to alcohol? Most States now offer some type of incentive for alcohol or bio-diesel. Click http://www.eere.energy.gov/afdc/states/ checking to see what YOUR state has to offer. For example, in the state of Colorado we can take a state tax credit for the conversion device of converting your vehicle to ethanol. If you are an ethanol producer producing less than 30 million gallons of alcohol a year you can claim a $.10 tax credit per gallon for the sale of each gallon to a trade or business or at retail to put in a fuel for use of fuel in a vehicle.