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Message
re: Flex Fuel Credit-FYI from the LCPA
Posted on 11/1/16 at 10:01 am to failuretocommunicate
Posted on 11/1/16 at 10:01 am to failuretocommunicate
First I have heard of this, just did some googling and found this
"The relevant version of the credit statute was the version in effect in 2011 when the taxpayers purchased the vehicle, not the 2013 amended version which subsequently disallowed the credit for FFVs. The court held that until taxable years beginning January 1, 2014, purchases of FFVs such as the one purchased by the taxpayers were eligible for the alternative fuel tax credit."
So does this mean a Flex Fuel truck purchased in May of 2013 would be eligible for an amended return for the 2013 tax year?
"The relevant version of the credit statute was the version in effect in 2011 when the taxpayers purchased the vehicle, not the 2013 amended version which subsequently disallowed the credit for FFVs. The court held that until taxable years beginning January 1, 2014, purchases of FFVs such as the one purchased by the taxpayers were eligible for the alternative fuel tax credit."
So does this mean a Flex Fuel truck purchased in May of 2013 would be eligible for an amended return for the 2013 tax year?
1
Posted on 11/1/16 at 10:29 am to jtayl71
quote:
The court held that until taxable years beginning January 1, 2014, purchases of FFVs such as the one purchased by the taxpayers were eligible for the alternative fuel tax credit."
That seems to be the case. Might want to give your CPA a call if you purchased a qualifying vehicle in 2013
From eng08 above post
quote:
can only claim it on 2012 and half year vehicles for 2013 that qualify. They tightened up the qualifying stuff in 2013, effective Jan 1 2014 tax year, but it wasn't retroactive. Google the la tax law listed at top of thread and read up if your vehicle qualifies,
This post was edited on 11/1/16 at 11:04 am
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