Iowa E85 Gasoline Promotion Tax Credit
The Iowa E85 Gasoline Promotion Tax Credit (Form IA 135) is designed to support the use of E85 gasoline, a renewable fuel blend containing 85% ethanol and 15% gasoline. This credit is available to businesses that sell E85 gasoline at retail in Iowa during the tax year.
Eligibility and Requirements
- Must be a business selling E85 gasoline at retail in Iowa.
- Must report the total number of E85 gasoline gallons sold during the tax year.
- Must file Form IA 135 with the Iowa Department of Revenue.
How to Claim the Credit
To claim the Iowa E85 Gasoline Promotion Tax Credit, follow these steps:
- Log in to your tax return in the Online Taxes software.
- Click on "State" in the left menu (or tap the three dots for mobile devices).
- Select "Start or Revisit Iowa state."
- Under the "Credits" section, choose "IA 135 - E85 Gasoline Promotion Tax Credit."
- Click "Save & Continue Return" and follow the on-screen instructions.
Form Details
Form IA 135 requires the following information:
- Name(s) of the filer
- Social Security Number (SSN) or Federal Employer Identification Number (FEIN)
- Pass-through entity details (if applicable)
- Tax period ending date
- Total number of E85 gasoline gallons sold at retail in Iowa during the tax year
Source:
Form IA 135 - Iowa E85 Gasoline Promotion Tax Credit
Disclaimer: Always verify details with the official Federal or State Department of Revenue Forms and Instructions.