The Oklahoma Credit for Investment in Clean-Burning Motor Vehicle Fuel Property allows taxpayers to claim a tax credit for purchasing or converting to a qualified clean-burning motor vehicle. This credit is claimed using Form 567-A, which must be attached to the Oklahoma individual income tax return (Form 511-CR). The credit amount varies based on the gross vehicle weight of the qualified vehicle:
Credit Amounts by Vehicle Weight
- For qualified clean-burning motor vehicle fuel property related to qualifying vehicle conversions or vehicles originally equipped for qualified clean-burning fuels, the credit amount is determined based on the gross vehicle weight of the qualified vehicle as provided in Form 567-A instructions:
- Vehicles with gross vehicle weight rating:
- 6,000 pounds or less: $5,500 credit
- 6,001–10,000 pounds: $9,000 credit
- 10,001–26,500 pounds: $26,000 credit
- 26,501 pounds or more: $100,000 credit
- The credit applies only to qualified clean-burning motor vehicle fuel property that meets Oklahoma requirements.
Claiming the Credit
- Complete Form 567-A for each qualified motor vehicle or other qualifying clean-burning motor vehicle fuel property for which the credit is claimed.
- For a qualified motor vehicle, the credit calculated in Form 567-A, Part 1 is reported on Form 511-CR, line 3a. If more than one vehicle is involved, complete a separate Form 567-A for each vehicle and combine the Part 1 credits on line 3a.
- For qualifying property under Part 2 and a natural gas refueling station under Part 3, combine the credits in Form 567-A, Part 4 and report the total on Form 511-CR, line 3b.
- Any credit allowed but not used has a five-year carryover provision.
Additional Limitation
- For Part 2, the credit is 45% of qualifying cost, while
- Part 3 private-residence natural gas refueling station credit is limited to the lesser of $2,500 or 50% of qualifying cost.
How to File
- When filing your Oklahoma state tax return electronically, navigate to the "State" section and select "Oklahoma State."
- Under the "Credits" section, answer "yes" to "Do you have any credit to claim for investment in clean-burning motor vehicle fuel property?" to access Form 567-A.
- Follow on-screen instructions to complete and submit the form.
Source:
Form 567-A: Credit for Investment in Clean-Burning Motor Vehicle Fuel Property
Form 511-CR: Oklahoma Individual Income Tax Return (Credit Section)
Disclaimer: Always verify details with the official Oklahoma Department of Revenue forms and instructions. Tax rules may change annually. For complex situations, consult a CPA or tax professional.