Alcohol Fuels Credit

AAA

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.

RELATED TERMS
  1. Business Tax Credits

    A number of federal income tax credits available to businesses ...
  2. Alternative Fuels Tax Credit

    A non-refundable tax credit awarded to taxpayers who use non-alcohol ...
  3. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
  4. Refundable Credit

    A tax credit that is not limited by the amount of an individual's ...
  5. Non-Refundable Tax Credit

    A tax credit that can't reduce the amount of tax owed to less ...
  6. Working Tax Credit (WTC)

    A tax credit offered to low-income individuals working in the ...
Related Articles
  1. Tax Credit For Plan Expenses Incurred ...
    Entrepreneurship

    Tax Credit For Plan Expenses Incurred ...

  2. 3 Common Tax Questions Answered
    Taxes

    3 Common Tax Questions Answered

  3. Give Your Taxes Some Credit
    Taxes

    Give Your Taxes Some Credit

  4. Financial History: The Rise Of Modern ...
    Professionals

    Financial History: The Rise Of Modern ...

comments powered by Disqus
Hot Definitions
  1. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center