Source: Missouri Department of Natural Resources
Business owners who invest in alternative fuel infrastructure projects in Missouri may be eligible for a new state tax credit. For the 2009 through 2011 tax years, eligible applicants who install and operate alternative fuel vehicle refueling property may be allowed a credit for the tax year when the infrastructure was constructed.
The credit allowed per applicant cannot exceed the lesser of $20,000 or 20 percent of the costs of purchase and installation of alternative fuel storage and dispensing equipment.
Costs typically covered by the credit are for the equipment and construction costs associated with storage tanks, piping and pumps for alternative fuels such as E85, biodiesel, and propane. Costs for property, land or buildings are not included in the credit.
Any eligible applicant desiring to file for a tax credit must submit an application for certification with the Department of Natural Resources. The department will review the applications and certify to the Department of Revenue each eligible applicant that qualifies for the credit. A project owner must receive certification before the credit can be filed for on a Missouri tax return.
Additional information, including a factsheet and form to certify eligibility are available by visiting the department's Division of Energy Web page at.www.dnr.mo.gov/energy/transportation/Missouri-AFITC.htm
