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Iowa Free Printable IA 8864 Iowa Biodiesel Blended Fuel Tax Credit (41149) for 2024 Iowa Biodiesel Blended Fuel Tax Credit 41-149

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Biodiesel Blended Fuel Tax Credit 41-149
IA 8864 Iowa Biodiesel Blended Fuel Tax Credit (41149)

2023 IA 8864 Iowa Biodiesel Blended Fuel Tax Credit tax.iowa.gov Name(s):___________________________________________________________________________ Social Security Number (SSN) or Federal Employer Identification Number (FEIN): _______________ Pass-through entity legal name (if applicable): _____________________________________________ Pass-through FEIN: ____________________________ Tax period ending date: _________________ 1. Total number of biodiesel fuel gallons containing a minimum of 11% to 19% pure biodiesel sold at retail in Iowa during the tax year .......................................... 1. ______________ 2. Biodiesel Blended Fuel Tax Credit for B11-B19 blends. Multiply line 1 by the tax credit rate per gallon of $0.05 (five cents) ......................................................... 2. ______________ 3. Total number of biodiesel fuel gallons containing a minimum of 20% to 29% pure biodiesel sold at retail in Iowa during the tax year .......................................... 3. ______________ 4. Biodiesel Blended Fuel Tax Credit for B20-B29 blends. Multiply line 3 by the tax credit rate per gallon of $0.07 (seven cents) ............................................... 4. ______________ 5. Total number of biodiesel fuel gallons containing a minimum of 30% pure biodiesel sold at retail in Iowa during the tax year .................................................. 5. ______________ 6. Biodiesel Blended Fuel Tax Credit for B30 plus blends. Multiply line 5 by the tax credit rate per gallon of $0.10 (ten cents) .......................................................... 6. ______________ 7. Biodiesel Blended Fuel Tax Credit. Add lines 2, 4, and 6. See Where to Report This Tax Credit in instructions ................................................................................. 7. ______________ 8. Pass-Through Biodiesel Blended Fuel Tax Credit from partnership, limited liability company (LLC), S corporation, estate, or trust. See Where to Report This Tax Credit in instructions ..................................................................... 8. ______________ Include this form with your return. 41-149a (07/24/2023) 2023 IA 8864 Instructions, page 1 What’s New for Tax Year 2023 2022 Iowa Acts chapter 1067 (House File 2128) modified the Biodiesel Blended Fuel Tax Credit for biodiesel blended fuel sold on or after January 1, 2023. This will impact retail dealers who sell biodiesel blended fuel at retail in Iowa on or after January 1, 2023. The tax credit rates have been changed to the following beginning on January 1, 2023: • $0.05 (five cents) per gallon sold at retail in Iowa for B11-B19 blends. Gallons rated below B-11 no longer qualify for Biodiesel Blended Fuel Tax Credit. • $0.07 (seven cents) per gallon sold at retail in Iowa for B20-B29 blends. • $0.10 (ten cents) per gallon sold at retail in Iowa for B30 and higher blends. About the Biodiesel Blended Fuel Tax Credit An Iowa Biodiesel Blended Fuel Tax Credit is available to retail dealers of diesel 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 biodiesel blended fuel with a minimum percentage of 11 by volume of biodiesel on or after January 1, 2023. to the entity’s total earnings. Special allocations are not permitted. Report the tax credit to the Department and members as instructed (see Where to Report This Tax Credit). If the taxpayer has received any Biodiesel Blended Fuel Tax Credit from a pass-through entity, indicate that amount on line 8 of the IA 8864. See Where to Report This Tax Credit. File a separate IA 8864 for each pass-through Biodiesel Blended Fuel Tax Credit received and provide the required information regarding the pass-through entity. 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. For gallons sold on or after January 1, 2023, the tax credit equals five cents multiplied by the total number of gallons of biodiesel blended fuel with 11% to 19% biodiesel, seven cents multiplied by the total number of gallons of biodiesel blended fuel with 20% to 29% biodiesel, and ten cents multiplied by the total number of gallons of biodiesel blended fuel with 30% or higher biodiesel. See Iowa Code section 422.11P and Iowa Administrative Code rules 701—304.34 and 501.31 for more information. Claiming This Tax Credit Provide your name, Social Security Number (SSN) or Federal Employer Identification Number (FEIN), and tax period ending date. If the retailer is a pass-through entity (partnership, limited liability company, S corporation, estate, or trust), the tax credit is allocated to the members. The tax credit allocation must be in the ratio of each member’s share of the earnings of the entity 41-149b (07/24/2023) 2023 IA 8864 Instructions, page 2 Where to Report This Tax Credit Iowa Form: Enter amounts from lines 7 and 8 on: 1040 1120 1041 (amounts claimed at entity level) 1041 (amounts allocated to beneficiaries) IA 148 Tax Credits Schedule • IA 1041 Schedule K-1 • • and IA 1065 Schedule K-1 IA 1120S Schedule B 1120S • • IA 1065 Schedule B 1065 Additional instructions: • • and IA 1120S Schedule K-1 • Report line 7 and line 8 amounts on the IA 148, Part II, using tax credit code 52. List each tax credit claim earned or received separately. For line 8 amounts from another pass-through entity, report required information about the pass-through entity on the IA 148, Part IV. List each pass-through tax credit claim separately. Report the allocated share of line 7 and line 8 amounts on each beneficiary’s IA 1041 Schedule K-1 using tax credit code 52. List each tax credit claim earned or received separately. Instruct beneficiaries to report their allocated tax credit on line 8 of form IA 8864 and include the IA 8864 with their tax return. Report line 7 and line 8 amounts on the IA 1065 Schedule B as earned by the entity (line 7) or received from another pass-through entity (line 8) and use tax credit code 52. Also, report each member’s allocated share of the tax credit on the IA 1065 Schedule K-1 using tax credit code 52. List each tax credit claim earned or received separately on the Schedule B and Schedule K-1. Instruct members to report their allocated tax credit on line 8 of form IA 8864 and include the IA 8864 with their tax return. Report line 7 and line 8 amounts on the IA 1120S Schedule B as earned by the entity (line 7) or received from another pass-through entity (line 8) and use tax credit code 52. Also, report each member’s allocated share of the tax credit on the IA 1120S Schedule K-1 using tax credit code 52. List each tax credit claim earned or received separately on the Schedule B and Schedule K-1. Instruct members to report their allocated tax credit on line 8 of form IA 8864 and include the IA 8864 with their tax return. 41-149c (07/24/2023)
Extracted from PDF file 2023-iowa-form-ia-8864.pdf, last modified February 2023

More about the Iowa Form IA 8864 Corporate Income Tax Tax Credit TY 2023

We last updated the Biodiesel Blended Fuel Tax Credit 41-149 in February 2024, so this is the latest version of Form IA 8864, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IA 8864 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 148 Tax Credits Schedule 41-148
Form IA 1120S Shhedule K-1 Schedule K-1 - Shareholder’s Share of Iowa Income, Deductions, Modifications
Form IA 1041V Iowa Fiduciary Income Tax Payment Voucher
Form IA 1065 Iowa Partnership Return of Income 41-016
Form IA 1041 Fiduciary Return 63-001

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 8864 from the Department of Revenue in February 2024.

Show Sources >

Form IA 8864 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 8864

We have a total of thirteen past-year versions of Form IA 8864 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form IA 8864

IA 8864 Iowa Biodiesel Blended Fuel Tax Credit (41149)

2022 Form IA 8864

IA 8864 Iowa Biodiesel Blended Fuel Tax Credit (41149)

2021 Form IA 8864

IA 8864 Iowa Biodiesel Blended Fuel Tax Credit (41149)

2020 Form IA 8864

IA 8864 Iowa Biodiesel Blended Fuel Tax Credit (41149)

2019 Form IA 8864

IA 8864 Iowa Biodiesel Blended Fuel Tax Credit, 41-149

2018 Form IA 8864

IA 8864 Iowa Biodiesel Blended Fuel Tax Credit (41149)

2017 Form IA 8864

IA 8864 Iowa Biodiesel Blended Fuel Tax Credit (41149)

2016 Form IA 8864

IA 8864 Iowa Biodiesel Blended Fuel Tax Credit (41149)

Biodiesel Blended Fuel Tax Credit 41-149 2015 Form IA 8864

IA 8864, Iowa Biodiesel Blended Fuel Tax Credit (41-149).pmd

Biodiesel Blended Fuel Tax Credit 41-149 2014 Form IA 8864

IA 8864, Iowa Biodiesel Blended Fuel Tax Credit (41-149).pmd

Biodiesel Blended Fuel Tax Credit 41-149 2013 Form IA 8864

41149 (IA 8864).pmd

2012 Form IA 8864

41149 (IA 8864).pmd

2011 Form IA 8864

41149 (IA 8864).pmd


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