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West Virginia Schedule AFTC-1 Alternative-Fuel Tax Credit
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Extracted from PDF file 2023-west-virginia-form-aftc1.pdf, last modified December 1969Schedule AFTC-1 Alternative-Fuel Tax Credit
West Virginia Schedule AFTC-1 Alternative-Fuel Tax Credit AFTC-1 REV. 02/2020 West Virginia State Tax Department (For periods AFTER January 1, 2015) Taxpayer Name ID Number TAX PERIOD BEGINNING ENDING MM ► ► ► ► DD YYYY MM DD YYYY Taxpayers desiring to claim the Alternative-Fuel Motor Vehicle Tax Credit must complete Parts A and B of this Schedule. Taxpayers desiring to claim the Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure Tax Credit must complete Parts A and C of the Schedule. Taxpayers desiring to claim the Qualified Alternative-Fuel Vehicle Refueling Infrastructure Tax Credit must complete Parts A and D of this Schedule. An owner Taxpayer desiring to claim Alternative-Fuel Tax Credit allocated by a Pass-Through Entity subsidiary must complete Parts A and E of this Schedule. Under penalties of perjury, I declare that I have examined this credit claim form (including accompanying schedules and statements) and to the best of my knowledge it is true and complete. Signature of Taxpayer Name of Taxpayer (type or print) Person to contact concerning this return Signature of Preparer other than Taxpayer Title Date Telephone Number Address Date Part A Alternative-Fuel Tax Credit Summary 1. Current year Alternative-Fuel Motor Vehicle Credit from Part B, line 9 (Total if more than one qualifying vehicle). Amounts not supported by Part B will be denied.................................................................................................................................................... 1 $ 2. Current year Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure Tax Credit from Part C, line 7. Amounts not supported by Part C will be denied................................................................................................................................................... 2 $ 3. Current year Qualified Alternative-Fuel Vehicle Refueling Infrastructure Tax Credit from Part D, line 6 (Total if more than one qualifying refueling infrastructure). Amounts not supported by Part D will be denied........................................................................ 3 $ 4. Alternative-Fuel Motor Vehicle Tax Credit and Qualified Alternative-Fuel Vehicle Refueling Infrastructure Tax Credit Allocated to the Owner of a Pass-Through Entity that earned the credit as reported on Part E. Amounts not supported by Part E will be denied......... 4 $ Total 5 $ 6. Total Alternative-Fuel Tax Credit Available (add lines 1 through 5).................................................................................................... 6 $ 5. Unused, unallocated Alternative Fuel Tax Credit from prior years: An amended tax return (2011 and/or 2012 IT-140, CIT-120, PTE-100 or IT140NRC) is required to claim previously unclaimed Alternative Fuel Tax Credits (AFTC). If the unclaimed AFTC is associated with previously unfiled 2011 and/or 2012 tax returns, an original return is required for the tax years claimed. Any and all supporting documentation must be present or the claim for credit will be denied. Continued on the next page… Schedule AFTC-1 Page 1 of 4 Rev.02/2020 2015 $ 2016 $ 2017 $ 2018 $ 2019 $ 2020 $ 2021 $ Taxpayer Name Part A –Continued ID Number 7. Personal Income Tax liability (from line 10 of Form IT-140)............................................................................................................... 7 $ 8. Alternative-Fuel Tax Credit for application against Personal Income Tax (Enter the smaller of the amount on line 6 and the amount on line 7 here and on the Tax Credit Recap Schedule......................................................................................................... 8 $ 9. Available Alternative-Fuel Tax Credit after application against Personal Income Tax (subtract line 8 from line 6)............................ 9 $ 10. Corporation Net Income Tax liability (from line 16 of Form CIT-120).............................................................................................. 10 $ 11. Alternative-Fuel Tax Credit for application against the Corporation Net Income Tax (Enter the smaller of the amount on line 9 and the amount on line 10 here and on the Tax Credit Recap Schedule [CIT-120TC])................................................................ 11 $ 12. Available Alternative-Fuel Tax Credit after application against Corporation Net Income Tax (Subtract line 11 from line 9)........... 12 $ 13. Alternative-Fuel Tax Credit to be allocated. If the Taxpayer is a Pass-Through entity and any of the amount on line 12 is to be allocated to the owners of the Pass-Through Entity, complete Part F and enter the total amount of credit to be allocated here... 13 $ 14. Unused, unallocated Alternative-Fuel Tax Credit for carry forward to subsequent years. Subtract the amount on line 13 from the amount on line 12..................................................................................................................................................................... 14 $ Part B Alternative-Fuel Motor Vehicle Tax Credit A COPY OF THE BILL OF SALE IS REQUIRED FOR NEW VEHICLE PURCHASES OR ANY INVOICES ASSOCIATED WITH A CONVERSION. 1. Alternative-Fuel Motor Vehicle (Enter the Vehicle Identification Number [VIN])................................................................................. 1 2. Alternative-Fuel Type (Check predominant Type): A. Compressed Natural Gas B. Liquefied Natural Gas C. Liquefied Petroleum Gas ***OPTIONS D, E, F, G, AND H ARE NOT AVAILABLE FOR VEHICLES PURCHASED ON OR AFTER APRIL 15, 2013.*** D. Hydrogen E. Electricity 85% or more by volume fuel mixture: F. Methanol G. Ethanol H. 3. West Virginia Division of Motor Vehicles Registration Number........................................................................................................... 3 4. Gross Vehicle Weight (in pounds)...................................................................................................................................................... 4 5. New Purchase or conversion: A. Date of new purchase: **Bill of sale must be attached** or B. Date of conversion: Purchase Price*............. 5A $ Actual cost of conversion 5B $ Other alcohols lbs. 6. Credit factor. If new purchase, enter 0.35 (35%). If conversion of previously registered vehicle, enter .50 (50%)............................ 6 0. 7. Potential Credit – Multiply the price (line 5A) or the actual cost of conversion (line 5B) by the value on line 6................................. 7 $ 8. Maximum Allowable Credit – If the Gross Vehicle Weight (from line 4) is less than 26,000 pounds, enter $7,500. Otherwise, enter $25,000............................................................................................................................................................................ 8 $ 9. Available Alternative-Fuel Motor Vehicle Credit – Enter the smaller of the value on line 7 (Potential Credit) and the value on line 8 (Maximum Allowable Credit). Also, enter this value on Part A, line 1............................................................................................. 9 $ Payment for the vehicle entered on line 1 has been made after January 1, 2011 and on or before April 14, 2013 (Final payment includes arrangements/acceptance for financing on/or before April 14, 2013 for vehicle fuel type other than A, B, and C listed above). Purchaser of the vehicle has taken possession of the vehicle after January 1, 2011 and on or before April 14, 2013 for vehicle fuel type other than A, B, and C listed above. Person claiming the credit on line 9 maintained ownership of the vehicle entered on line 1 through December 31 of purchased year. By checking these boxes and signing the tax return, purchaser certifies this information to be true. ____________ * Purchase price means the sale price of the vehicle less any amount deducted therefrom for any trade-in allowance and/or rebates from the manufacturer or dealer. Schedule AFTC-1 Page 2 of 4 Rev.02/2020 Taxpayer Name Part C ID Number Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure Tax Credit (APPLICABLE ONLY FOR INSTALLATIONS MADE PRIOR TO APRIL 15, 2013) 1. Location of Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure............................................ 1 2. Date of installation of Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure (DOCUMENTATION MUST BE PROVIDED) See instructions on page 4................................................. 2 3. Total Cost of Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure................................................................................ 3 4. Credit Factor – 0.50 (50%)................................................................................................................................................................ 4 5. Potential Credit – Multiply the actual Total Cost of the Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure (line 3) by the value on line 4....................................................................................................................................................................... 5 $ 6. Maximum Allowable Credit – $10,000............................................................................................................................................... 6 $ 10,000 7. Available Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure Credit – Enter the smaller of the value on line 5 (Potential Credit) and the value on line 6 (Maximum Allowable Credit). Also, enter the value on Part A, line 2.............................. 7 $ 2. Total Cost directly associated with the construction or purchase of the Qualified Alternative-Fuel Vehicle Refueling Infrastructure................................................................................................................................................................................... 2 $ 3. Accessibility – If the Qualified Alternative-Fuel Vehicle Refueling Infrastructure is generally available for public use enter 1.25, otherwise enter 1.00........................................................................................................................................................................ 3 1.___ 4. Credit Factor – For refueling infrastructure placed in service before January 1, 2014, enter 0.625 (62.5%) if the value on line 3 is 1.25, otherwise enter 0.50 (50%). For infrastructure placed in service on or after January 1, 2014, enter 0.20 (20%) unless the note below applies..................................................................................................................................................................... 4 0.___ 5. Potential Credit – Multiply the Actual Total Cost of the Qualified Alternative-Fuel Vehicle Refueling Infrastructure (from line 2) by the value on line 4....................................................................................................................................................................... 5 $ 6. Maximum Allowable Credit – Determine this amount by following instructions below. 6 $ 7 $ Part D $ 0.50 Qualified Alternative-Fuel Vehicle Refueling Infrastructure Tax Credit 1. Location of Qualified Alternative-Fuel Vehicle Refueling Infrastructure..................................................................... 1 (a) For tax periods after December 31, 2010 but prior to January 1, 2014 – If line 3 is 1.00, maximum credit is $250,000. If line 3 is 1.25, maximum credit is $312,500. (b) For tax periods after January 1, 2014 but prior to January 1, 2018 – Maximum credit is 20% of the total costs per facility, up to a maximum of $400,000. NOTE: When the purchase and installation of qualified alternative fuel vehicle infrastructure begins prior to January 1, 2014, but is not completed and placed into service until after January 1, 2014, the taxpayer may choose to fall under the rules of either (a) or (b) but not both. 7. Available Qualified Alternative-Fuel Vehicle Refueling Infrastructure Credit – Enter the smaller of the value on line 5 (Potential Credit) and the value on line 6 (Maximum Allowable Credit). Also, enter the value on Part A, line 3.............................................. Part E Alternative-Fuel Motor Vehicle Tax Credit and Qualified Alternative-Fuel Vehicle Refueling Infrastructure Tax Credit Allocated to Owner from Pass-Through Entity Pass-Through Entity Name Pass-Through Entity Employer Identification Number (EIN) Amount of Credit Allocated $ $ $ $ $ $ $ Schedule AFTC-1 Page 3 of 4 Rev.02/2020 Total $ Taxpayer Name Part F ID Number Unused Alternative-Fuel Tax Credit Allocation to Owners Owner Name Owner EIN/SSN Owner % Credit Allocated % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ Total Allocated Credit $ Schedule AFTC-1 Page 4 of 4 Rev.02/2020
Form AFTC1
More about the West Virginia Form AFTC1 Corporate Income Tax Tax Credit TY 2023
The purpose of the Alternative-Fuel Tax Credits is to encourage the use of alternatively-fueled motor vehicles and possibly reduce unnecessary pollution of the environment and reduce dependence on foreign sources of energy.
We last updated the Schedule AFTC-1 Alternative-Fuel Tax Credit in February 2024, so this is the latest version of Form AFTC1, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form AFTC1 directly from TaxFormFinder. You can print other West Virginia tax forms here.
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TaxFormFinder has an additional 75 West Virginia income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form PTE100 | Income Tax Return S Corporation & Partnership (Pass-Through Entity) Formerly SPF 100 |
| SPF100 Schedule SP | Shareholder / Partner Information and Non-resident Withholding |
| Form CIT 120 | Corporate Net Income (formerly CNF 120) |
| Form IT-141ES | Fiduciary Estimated Tax Payment Voucher |
| Form IT141 | Fiduciary Income Tax Return for Resident and Non-resident Estates and Trusts |
View all 76 West Virginia Income Tax Forms
Form Sources:
West Virginia usually releases forms for the current tax year between January and April. We last updated West Virginia Form AFTC1 from the Department of Revenue in February 2024.
Form AFTC1 is a West Virginia Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of West Virginia Form AFTC1
We have a total of eleven past-year versions of Form AFTC1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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