Kansas Alternative-Fuel Tax Credit
Extracted from PDF file 2020-kansas-form-k-62.pdf, last modified September 2020
Alternative-Fuel Tax CreditK-62 KANSAS 191801 ALTERNATIVE-FUEL TAX CREDIT (Rev. 8-20) For the taxable year beginning _________________________________ , 20 _______; ending _________________________________ , 20 _______ Name of taxpayer (as shown on return) Employer ID Number (EIN) PART A – ALTERNATIVE-FUELED MOTOR VEHICLE AND FUELING STATION INFORMATION (C Corporations only) Check the type(s) of alternative-fuel expenditures made and placed in service this tax year. Refer to the instructions to complete the application section(s), and enclose the required documentation. o Gasoline or diesel vehicle conversion. Complete SECTION 1 on the back of this form. o Factory-equipped alternative-fueled vehicle. Complete SECTION 2 on the back of this form. o Alternative-fuel fueling station. Complete the following SECTION 3 SECTION 3 – Alternative-Fueled Fueling Station (see instructions and enclose required documentation) A. Date facility placed in service. A. ___________________________________ B. Expenditures for compression equipment. B. ___________________________________ C. Expenditures for storage tanks/receptacles. C. ___________________________________ D. Expenditures for delivery property. D. ___________________________________ E. Total qualified alternative-fuel fueling station expenditures. E. ___________________________________ F. Amount of fueling station expenditures available for the credit (see instructions). F. ___________________________________ G. Amount of credit (see instructions). Enter here and on line 3 below. G. __________________________________ 1. Amount of credit for gasoline or diesel vehicle conversion (from line 9, Section 1). 1. ___________________________________ 2. Amount of credit for factory-equipped vehicle (from line 9, Section 2). 2. ___________________________________ 3. Amount of credit for alternative-fueled fueling station (from line G, Section 3). 3. ___________________________________ 4. Total credit available (add lines 1, 2, and 3). 4. ___________________________________ 5. Amount of carry forward available on this return. Enter the amount of carry forward from the prior year’s Schedule K-62. 5. ___________________________________ 6. Total credit available this tax year (add lines 4 and 5). 6. ___________________________________ 7. Your tax liability for this tax year after all credits other than this credit. 7. ___________________________________ 8. Alternative fuel credit for this tax year. Enter the lesser of lines 6 or 7 here and on the appropriate line of K-120. 8. ___________________________________ PART B – COMPUTATION OF CREDIT AVAILABLE FOR THIS YEAR'S EXPENDITURES PART C – COMPUTATION OF THIS YEAR'S CREDIT If line 8 is less than line 6, complete Part D. PART D – COMPUTATION OF EXCESS CREDIT CARRY FORWARD 9. Amount of carry forward available to report on your Schedule K-62 for next year (subtract line 8 from line 6). 9. ____________________________________ 191802 KANSAS ALTERNATIVE-FUEL MOTOR VEHICLE CREDIT SECTION 1 – Gasoline or Diesel Vehicle Conversion (see instructions and enclose required documentation) (A) Date Vehicle Placed in Service (B) Vehicle Make (C) Vehicle Model (D) Vehicle Identification Number (E) (F) Alternative Fuel Type Dedicated Bi-Fueled or Flexible Fueled (G) (H) (I) Conversion Cost Amount of Expenditures for Credit (see instr.) Credit Amount this Vehicle (see instr.) 1. 2. 3. 4. 5. 6. 7. 8. 9. Total Section 1 Credit Available (add amounts in column (I)). Enter the result on line 1, Schedule K-62. 0.00 SECTION 2 – Factory-Equipped Vehicle (see instructions and enclose required documentation) (A) Date Vehicle Placed in Service (B) Vehicle Make (C) Vehicle Model (D) Vehicle Identification Number (E) (F) Alternative Fuel Type Dedicated Bi-Fueled or Flexible Fueled (G) (1) Incremental Cost (2) Cost of Vehicles (H) (I) Amount of Expenditures for Credit (see instr.) Credit Amount this Vehicle (see instr.) 1. 2. 3. 4. 5. 6. 7. 8. 9. Total Section 2 Credit Available (add amounts in column (I)). Enter the result on line 2, Schedule K-62. 0.00 INSTRUCTIONS FOR SCHEDULE K-62 GENERAL INFORMATION INFORMATION Any individual, association, partnership, limited liability company, limited partnership or corporation who makes expenditures for a qualified alternative-fueled motor vehicle licensed in the state of Kansas or who makes expenditures for a qualified alternative-fuel fueling station qualifies to receive an income tax credit under K.S.A. 79-32,201. This credit is only available to corporations that are subject to the Kansas corporate income tax (i.e., C corporations) and not available to individuals, partnerships, S corporations, limited liability companies, and other pass-through entities. K.S.A. 74-50,227 requires the collection of certain tax incentive information for publication on a database managed by the Kansas Department of Commerce. Information collected will include the name and address, including county of the recipient receiving the benefits from the tax incentive program, the annual amount of incentive claimed, distributed or received, qualification criteria for the incentive, and required benchmarks for continued participation in the program and progress made towards the benchmarks. Carry Forward of Unused Credits: For tax year 2017 and all years after no new credit or carryforward is available to individuals, partnerships, S corporations, limited liability companies, and other pass-through entities. Motor vehicles purchased on or after JULY 1, 2007 must be powered by a fuel source that meets the new definition of alternative fuel which means “a combustible liquid derived from grain starch, oil seed, animal fat or other biomass; or produced from biogas source, including any nonfossilized, decaying, organic matter.” This definition excludes vehicles purchased on or after July 1, 2007 and fueled by methanol, natural gas, LP gas, hydrogen, coal-derived liquid fuels and electricity from qualifying for the credit. Alternative-fueled vehicles purchased on or after July 1, 2007 that qualify for the credit include: • E-85 Fuel - Mixtures containing 85% or more by volume (but not less than 70%) of denatured ethanol and other alcohols with gasoline or other fuels - E-85 • Fuels (other than alcohol) derived from and containing 85% or more biological materials (i.e., biodiesel) - B-100 For qualified alternative-fueled motor vehicles placed in service on or after January 1, 2005, the credit is 40% of the conversion or incremental cost, up to the maximum for the gross vehicle weight from the chart that follows. “Conversion” cost means the cost that results from modifying a motor vehicle which is propelled by gasoline or diesel to be propelled by an alternative fuel. “Incremental” cost means the cost that results from subtracting the manufacturer’s list price of the motor vehicle operating on conventional gasoline or diesel fuel from the manufacturer’s list price of the same model motor vehicle designed to operate on an alternative fuel. Maximum Credit on or after 1/1/2005 Gross Vehicle Weight (GVW) less than 10,000 lbs. 10,000 – 26,000 lbs. over 26,000 lbs. Maximum Credit Available $ 2,400 $ 4,000 $ 40,000 As an alternative to the above described credit, a taxpayer may claim a credit for the purchase of a new motor vehicle equipped by the vehicle manufacturer to operate on a blend of 85% ethanol and 15% gasoline not to exceed the lesser of 5% of the cost of the vehicle or $750. This credit is allowed only if the taxpayer claiming the credit furnishes evidence of the purchase, during the period of time beginning with the date of purchase of such vehicle and ending on December 31 of the next succeeding calendar year, of 500 gallons of such ethanol and gasoline blend as may be required or is satisfactory to the secretary of revenue. PART A – ALTERNATIVE-FUELED MOTOR VEHICLE OR FUELING STATION INFORMATION (C Corporations only) Required Documentation: You must enclose copies of invoices to substantiate the type of alternative-fueled vehicle and the conversion costs claimed in this section. Check the type of alternative-fuel expenditures made this tax year, then complete the appropriate Section(s). Be sure to enclose the required detailed documentation of expenditures. SECTION 1 – Gasoline or Diesel Vehicle Conversion COLUMN A – Enter the date the alternative-fueled motor vehicle was placed in service. COLUMNS B through F – Enter required information for each vehicle converted to use an alternative fuel. Use the letter abbreviations in the general information section to the left for type of fuel; if “Other,” please specify. In column (F), enter a “B” for a bi-fueled vehicle, a “D” for a dedicated vehicle, or an “F” for a flexible fuel vehicle. COLUMN G – Enter the total cost incurred to convert the gasoline or diesel-powered vehicle to use an alternative fuel. COLUMN H – For property placed in service on or after January 1, 2005, enter 40% of column (G). COLUMN I – For property placed in service on or after January 1, 2005, enter the lesser of column (H) or the maximum amount shown under Maximum Credit on or after 1/1/2005 in the General Information section. SECTION 2 – Factory-Equipped Vehicle Required Documentation: Enclose a copy of the sales invoice for each factory-equipped alternative-fueled vehicle purchased. If using the Incremental Cost option, column (G)(1), enclose documentation of the cost of a gasoline or dieselpowered vehicle of the same model. For all tax years beginning after 12/31/99, if you are using the Cost of Vehicle option, column (G)(2) for an E-85 vehicle, you must enclose proof of purchase of at least 500 gallons of E-85 fuel from date of vehicle purchase to December 31 of the next succeeding calendar year. COLUMNS A through F – Complete as in Section 1. COLUMN G – Complete either column (G)(1) or (G)(2). Column (G)(1) – Incremental Cost. Under this option enter the difference between the manufacturer’s list price of the alternative-fueled vehicle and the manufacturer’s list price of the same model vehicle operated on gasoline or diesel fuel. Column (G)(2) – Cost of Vehicle. Under this option, enter the total cost of the alternative-fueled vehicle. COLUMN H – For property placed in service on or after January 1, 2005, enter 40% of column (G)(1) or 5% of column (G)(2). COLUMN I – If column (G)(1) is used, enter the lesser of column (H) or the maximum amount shown under Maximum Credit on or after 1/1/2005 in the General Information section. If column (G)(2) is used, enter the lesser of column (H) or $750. SECTION 3 – Alternative Fuel Fueling Station Required Documentation: Enclose a detailed description of the fueling station, its exact physical location, and a photograph of the completed operation. Also enclose copies of invoices and a detailed schedule showing how you computed the cost of the qualifying alternative-fuel fueling station property shown on lines B through D. LINE A – Enter the date the alternative-fuel fueling station was placed in service. LINES B through D – Enter only the cost of the equipment that is directly related to the delivery of an alternative fuel into the fuel tank of a motor vehicle propelled by such fuel. Labor services to install the property, architect and engineering fees and other related expenses may NOT be included. LINE E – Enter the total of lines B, C, and D. LINE F – For refueling stations placed in service on or after January 1, 2009, enter the lesser of line E or $100,000. LINE G – For a qualified alternative-fuel fueling station placed in service on or after January 1, 2005, multiply amount on line F by 40% and enter result. Also enter the amount on line 3, PART B. PART B – COMPUTATION OF CREDIT AVAILABLE FOR THIS YEAR'S EXPENDITURES LINE 6 – Add lines 4 and 5 and enter the result. LINE 7 – Enter your total Kansas tax liability for this tax year after all credits, other than this credit. LINE 8 - Enter the lesser of lines 6 or line 7. Also enter this amount on the appropriate line of Form K-120. If line 8 is less than line 6, complete PART D. PART D – COMPUTATION OF CREDIT CARRY FORWARD LINE 9 – Subtract line 8 from line 6 and enter result (cannot be less than zero). This is your available credit to enter on next year’s Schedule K-62. Note: When you claim the carry over amount next year, you will need to include a copy of this schedule with your return and Schedule K-62. TAXPAYER ASSISTANCE For assistance with the technical aspects of alternative fuels and alternative-fueled motor vehicles and fueling stations, contact: Weights and Measures Kansas Department of Agriculture 1320 Research Park Drive 2nd fl Manhattan KS 66502 LINE 1 – Enter the amount of credit for gasoline or diesel vehicle conversion from Section 1, line 9. Phone: 785-564-6786 Fax: 785-564-6779 agriculture.ks.gov LINE 2 – Enter the amount of credit for factory-equipped vehicle from Section 2, line 9. For assistance in completing this schedule contact the Kansas Department of Revenue: LINE 3 – Enter the amount of credit for alternative-fueled fueling station from Section 3, line G. LINE 4 - Enter the total of lines 1, 2, and 3. This is your total available credit for this year’s expenditures. PART C – COMPUTATION OF THIS YEAR'S CREDIT LINE 5 – Enter the amount of carry forward available from the prior year’s Schedule K-62. Enclose a copy of the prior year’s Schedule K-62. Note: A credit may not be carried over after the third succeeding taxable year. Taxpayer Assistance Center Scott Office Building 120 SE 10th Ave PO Box 750260 Topeka KS 66699-0260 Phone: 785-368-8222 Fax: 785-291-3614 Additional copies of this credit schedule and other tax forms are available from our website at: ksrevenue.org
K-62 Kansas Alternative-Fuel Tax Credit Rev. 8-20
More about the Kansas Form K-62 Corporate Income Tax Tax Credit TY 2020
We last updated the Alternative-Fuel Tax Credit in April 2021, so this is the latest version of Form K-62, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form K-62 directly from TaxFormFinder. You can print other Kansas tax forms here.
Other Kansas Corporate Income Tax Forms:
|Form Code||Form Name|
|Form K-4||Employees Withholding Allowance Certificate|
|Form K-30||Angel Investor Credit|
|Form K-41||Fiduciary Income Tax|
|Form K-89||Rural Opportunity Zone Credit Instructions|
|Form K-120ES||Corporate Estimated Tax Payment Vouchers|
Kansas usually releases forms for the current tax year between January and April. We last updated Kansas Form K-62 from the Department of Revenue in April 2021.
Form K-62 is a Kansas 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 Kansas Form K-62
We have a total of eight past-year versions of Form K-62 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
K-62 Kansas Alternative-Fuel Tax Credit Rev. 8-20
K-62 Kansas Alternative-Fuel Tax Credit Rev. 8-19
K-62 Kansas Alternative-Fuel Tax Credit Rev. 10-17
K-62 Kansas Alternative-Fuel Tax Credit Rev. 10-17
K-62 Kansas Alternative-Fuel Tax Credit
Alternative-Fuel Tax Credit K-62 (Rev. 7-14)
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