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Iowa Free Printable IA 135 E85 Gasoline Promotion Tax Credit, 41-150 for 2021 Iowa E85 Gasoline Promotion Tax Credit 41-150

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E85 Gasoline Promotion Tax Credit 41-150
IA 135 E85 Gasoline Promotion Tax Credit, 41-150

2020 IA 135 Iowa E85 Gasoline Promotion Tax Credit tax.iowa.gov Name(s): ______________________________________________SSN or FEIN:__________________ Pass-through entity (if applicable): _______________________________________________________ Pass-through FEIN: _____________________________ Tax period ending date: __________________ 1. Total number of E85 gasoline gallons sold at retail in Iowa during the tax year . 1. ________________ 2. E85 Gasoline Promotion Tax Credit. Multiply line 1 by the tax credit rate per gallon of $0.16 (sixteen cents). Enter in column K of Part II on the IA Iowa 148 Tax Credits Schedule ........................................................................................... 2. ________________ 3. Pass-through E85 Gasoline Promotion Tax Credit from partnership, LLC, S corporation, estate, or trust. Enter in column K of Part II on the IA 148 Iowa Tax Credits Schedule and complete Part IV on the IA 148 ................................. 3. ________________ IA 148 Iowa Tax Credits Schedule must be completed. 41-150a (09/29/2020) 2020 IA 135 Instructions An Iowa E85 Gasoline Promotion Tax Credit is available to retail dealers of gasoline who operate fuel pumps at an Iowa retail fuel site. Tank wagons are considered retail fuel sites. To qualify for the tax credit, retail dealers must sell E85 gasoline, which is ethanol blended gasoline formulated with a minimum percentage between 70% and 85% by volume of ethanol. A taxpayer may claim the E85 Gasoline Promotion Tax Credit even if the taxpayer claims the Ethanol Promotion Tax Credit (IA 137) for the same ethanol gallons. The tax credit equals sixteen cents multiplied by the total number of gallons of E85 gasoline sold during the tax year. See Iowa Code section 422.11O and Iowa Administrative Code rules 701—42.33 and 52.30 for more information. Provide your name, Social Security Number (SSN) or Federal Employer Identification Number (FEIN), and tax period ending date. Individuals and C corporations must report the tax credit claim in column K of Part II on the IA 148 Tax Credits Schedule; use tax credit code 55 in column I and leave column J blank. If the retailer is a partnership, Limited Liability Company (LLC), S corporation, estate, or trust, this form must be completed and included with the Iowa tax return. The tax credit must be allocated to the individual members in the ratio of each member’s share of the earnings of the entity to the entity’s total earnings. On Schedule K-1 or on an attachment to Schedule K-1, report the tax credit for each member and instruct the members to report the apportioned tax credit on line 3 of the IA 135 and include the form with their income tax returns. If the taxpayer has received any pass-through E85 Gasoline Promotion Tax Credit from a partnership, LLC, S corporation, estate, or trust, indicate that amount on line 3 of the IA 135. Also enter the amount in column K of Part II on the IA 148 Iowa Tax Credits Schedule; use tax credit code 55 in column I and leave column J blank. Provide the pass-through entity name in column M and FEIN in column N of Part IV on the IA 148 Tax Credits Schedule. File a separate IA 135 for each pass-through E85 Gasoline Promotion Tax Credit received. Also list the claims separately on Part II of the IA 148 Iowa Tax Credits Schedule, providing each passthrough entity name and FEIN in Part IV. Any tax credit in excess of tax liability can be refunded or credited to tax liability for the following year. Include this form and the IA 148 with your IA 1040, IA 1041, or IA 1120. Include this form with your IA 1065 or IA 1120S. 41-150b (09/22/2020)
Extracted from PDF file 2020-iowa-form-ia-135.pdf, last modified September 2020

More about the Iowa Form IA 135 Corporate Income Tax Tax Credit TY 2020

We last updated the E85 Gasoline Promotion Tax Credit 41-150 in April 2021, so this is the latest version of Form IA 135, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form IA 135 directly from TaxFormFinder. You can print other Iowa tax forms here.

Other Iowa Corporate Income Tax Forms:

TaxFormFinder has an additional 43 Iowa income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IA 1041 Instructions Fiduciary Tax Return Instructions 63-002
Form IA 1041 Fiduciary Return 63-001
Form IA 1120 Iowa Corporation Income Tax Return
Form IA 1120ES Corporate Estimate Tax Payment Voucher
Form IA 128 Iowa Research Activities Credit 41-128

Download all IA tax forms View all 44 Iowa Income Tax Forms


Form Sources:

Iowa usually releases forms for the current tax year between January and April. We last updated Iowa Form IA 135 from the Department of Revenue in April 2021.

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Form IA 135 is an Iowa 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 Iowa Form IA 135

We have a total of ten past-year versions of Form IA 135 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 Form IA 135

IA 135 E85 Gasoline Promotion Tax Credit, 41-150

2019 Form IA 135

IA 135 E85 Gasoline Promotion Tax Credit, 41-150

2018 Form IA 135

IA 135 E85 Gasoline Promotion Tax Credit, 41-150

2017 Form IA 135

IA 135 E85 Gasoline Promotion Tax Credit, 41-150

2016 Form IA 135

IA 135 E85 Gasoline Promotion Tax Credit, 41-150

E85 Gasoline Promotion Tax Credit 41-150 2015 Form IA 135

2014 IA 135, Iowa E85 Gasoline Promotion Tax Credit

E85 Gasoline Promotion Tax Credit 41-150 2014 Form IA 135

2014 IA 135, Iowa E85 Gasoline Promotion Tax Credit

E85 Gasoline Promotion Tax Credit 41-150 2013 Form IA 135

41150 (IA 135).pmd

2012 Form IA 135

41150 (IA 135).pmd

2011 Form IA 135

41150 (IA 135).pmd


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