Is significant fuel used regularly in operations or production?
Businesses making purchases for off-road and on-site use of the following fuel types may qualify for federal and state fuel tax credits.
- Renewable Diesel
- Diesel Water Fuel Emulsion
- Blended Diesel
- Other Alternative Fuels
Federal and state refundable fuel tax credits may be claimed on annual business income tax returns at a rate of up to $1.00 per gallon. Illinois fuel tax refunds may be obtained for a two-year look-back period by filing a simple one-page form.
For a free consultation, please contact:
Ellen Minnig, J.D., LLM Taxation, MSA
+1 847 773 0418
Ann Behrens, CPA, CVA
+1 847 649 8178