Get Your Alternative Tax Credit Before August 11, 2020

Both the Alternative Fuel Tax Credit and the Alternative Fuel Vehicle Refueling Property
Tax Credit has been
extended by President Trump for three years.

The Credits are retroactive for 2018 and 2019 and into 2020.
Now is the time to submit your Alternative Fuel (propane) credits as they
must be submitted by August 11, 2020.
Work with your tax professional to confirm your eligibility and to complete the appropriate forms.

IRS Forms:

Alternative Fuel
Tax Credit

The Alternative Fuel Tax Credit is available to any individual or entity that: 
(1) sells “alternative fuel” (propane) for use in a motor vehicle or motorboat within the United States, or
(2) uses the “alternative fuel” (propane) for such a purpose in the United States. 
The amount of the credit equates to approximately 37 cents per gallon of propane (50 cents per gasoline gallon equivalent).

Alternative Fuel Vehicle
Refueling Property Credit

The IRS Code (Section 30C) provides for a nonrefundable income tax credit equal to 30% of the cost of “qualified alternative fuel vehicle refueling property” that includes property used for the storage or dispensing of a “clean burning fuel” (propane) into the fuel tank of a motor vehicle propelled by propane, but only if propane is stored or dispensed where propane is delivered into the fuel tank of vehicles
For business property – credit cap at $30,000 per location annually
For non-business property – credit cap at $1000