Refundable Tax Credit Available to Propane Forklift Operators

If you are a homebuilder, heavy equipment road builder, or contractor, take note: using alternative fuels may be more affordable than you thought — and can send a cutting edge message to your customers at the same time. In 2005, Congress enacted the Safe, Accountable, Flexible and Efficient (SAFE) Transportation Equity Act which created a $.50 cent/gallon credit for alternative fuels, including propane, used in some motor vehicles.

While the sale of propane for use in forklift remains exempt from federal excise tax on motor fuels by way of a credit available to the ultimate purchaser, the IRS has now provided that forklifts fit the definition of an off-highway business motor vehicle and as such the fuel used in a forklift is eligible for the credit.

It is the end user, namely the forklift operator, who is entitled to apply for the credit, not the propane marketer. The credits are valid 10/1/06 - 9/30/09.

Visit the Propane Council's Website for more information about obtaining this Tax Credit

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