Alcohol Fuels Credit


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.

BREAKING DOWN '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.

  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. Refundable Credit

    A tax credit that is not limited by the amount of an individual's ...
  4. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
  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 ...
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