Alcohol Fuels Credit

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DEFINITION of 'Alcohol Fuels Credit'

One of several general business credits included on the General Business Tax Credit Form 3800. The alcohol fuels credit is a nonrefundable credit that is equal to the amount of alcohol used to manufacture an alcohol-based fuel for sale or use in a taxpayer's business.

INVESTOPEDIA EXPLAINS 'Alcohol Fuels Credit'

The alcohol fuels credit is claimed on IRS Form 6478. In 2010, businesses could claim up to 60 cents per gallon depending on the proof and type of alcohol used.

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