No matter your industry, it’s always smart to review whether you’re eligible for fuel tax credits – you may be surprised. Many types of activities qualify for these kinds of tax credits, which are offered at both the federal and state level.
One such example is the federal alternative fuel tax credit, which is designed to incentivize the usage of biodiesel and alternative fuel mixtures. To be eligible to claim the credit, the taxpayer must be registered as an alternative fuel blender with the IRS.
Most states also offer their own versions of fuel tax credits and incentives. For example, the State of Ohio provides a credit for each gallon of qualified fuel.
Clark Schaefer Hackett has significant experience with federal and state fuel tax credits. If you are interested in learning more about how your company may benefit, please contact your CSH professional.
