Form 4136 for Portland Oregon 2024-2025

Form 4136 for Portland Oregon: What You Should Know

Note: The IRS does not issue Form 4136 forms for any fuel that is not a biodiesel or renewable diesel. This includes gasoline and some heating oil. The following are the definitions for the various terms used in this section: Alternative Fuel Credit — A credit available to consumers for any nontaxable use of biodiesel or renewable diesel by adding a credit to the consumer's return that reduces the tax liability (see Regulations section 1.6048-1(f). Biodiesel — Fuels produced from petroleum and used to produce diesel fuel. Refund of Excise Taxes — A refund of excise taxes paid on fuels used exclusively for transportation purposes. Some taxes are also not refundable. The Alternative Fuel Credit — Refers to a credit for use by consumers in a manner other than the fuel that you bought. You must file Form 4136 to claim the credit. Biodiesel — Fuels produced from petroleum and other substances used to produce diesel fuel. Refund of Excise Taxes — A refund of excise taxes paid on fuels used exclusively for transportation purposes. Some taxes are also not refundable. The tax reduction allowed under the alternative fuel credit is equal to the least of the following: the difference between the amounts required to be reported on Form 4366 or 4369, the amount of excise taxes paid on fuels sold using the alternative fuel in the period of the fuel credit, or the amount of the excise taxes on the fuel under discussion of excise taxes under the excise tax provisions of Internal Revenue Code section 4031(i). The amount of credit allowed under the alternative fuel credit is calculated by multiplying any tax you would have reported on Form 4366 by the amount of the excise tax that is not refundable, and dividing the total by the number of gallons or gallons equivalent for which the allowance exists (not less than the amount of federal tax that is required to be reported on the form) to arrive at the amount of credit. Refund of Excise Taxes — A refund of excise taxes paid on fuels sold using the alternative fuel in the period of the fuel credit. The use tax (other than the excise tax) for each of the taxable years and all the sales of the taxpayer to the taxpayers listed in Table 2-A is reduced by a credit equal to such amount as reduced by amounts required to be included on the Federal income tax returns for all taxable years and all the sales to such taxpayers mentioned below.

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