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Form IA 137 Fillable Ethanol Promotion Tax Credit 41-151
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)
(eight cents) Biofuel PART II ( Row 1) ( Row 1) ( Row 1) ( Row 1) ( Row 1) ( Row 1) ( Row 1) (: ln1) Unchecked (: ln2) Unchecked (1 E10 gallons sold 1 Row 11) (1 E10 gallons sold 1 Row 3) (100 000 gallons / 8 months * 12 months = 150 000 annualized gallons) If the same of 70 000 gallons between January 1 2014 and (a10) (F (D x E) Row 1) (F (D x E) Row 10) (F (D x E) Row 11) (F (D x E) Row 12) (F (D x E) Row 2) (F (D x E) Row 3) (F (D x E) Row 4) (F (D x E) Row 5) (F (D x E) Row 8) (F (D x E) Row 9) (four cents) (Name(s)) (Pass through FEIN) (six cents) (SSN or FEIN) (Tax Period Ending) (text) (text) (undefined) *1341151019999* *1341151029999* 01 01 14 through end of tax year 1 E10 gallons sold 10 Divide line 9 by line 7 round to 2 decimal places; 12 Subtract line 10 from line 11 to 2 decimal places If zero or less enter zero (Biofuel threshold percentage disparity) 137 only once 2 E15 gallons sold 2013 GALLONS 2013 IA 2014 GALLONS 3 E85 gallons sold 4 Ethanol gallons other than E10 E15 or E85 sold 41 151a (07/02/13) 41 151b (09/16/13) 41 151c (07/02/13) 41 151d (07/02/13) 5 Total ethanol sold 6 Non ethanol gasoline gallons sold 7 Total gasoline gallons sold 8 Gallons of biodiesel sold B2 gallons 8 Total biodiesel sold Add lines a through e 9 Total biofuel sold Add lines 5 and 8 A/column D) by the appropriate biodiesel content percentage (column column E) For example 10 000 gallons of biodiesel blended fuel formulated by volume of biodiesel results in a biodiesel gallonage of 200 Add all line 4 s from all Part II s for Site by site Add lines 1 2 3 4 & 6 Add lines 1 through 4 Add lines 3A and 3B Add the credit calculated for all retail Also enter the amount on Part II of the IA An Ethanol Promotion and Site by site Methods Any tax credit in excess of the tax liability can be refunded April 30 2014 the 2014 annualized sales would be 210 000 gallons and the 2014 biofuel threshold percentage 15% (70 000 gallons / 4 months * 12 months = 210 000 annualized gallons) are retail dealers of Attach a list if multiple pass through (paa) B10 gallons B20 gallons B5 gallons Beginning of tax year through 12 31 01 01 14 through end of tax A Beginning of tax year through 12 31 A biodiesel content percentage in line 8e column B or column E Biofuel distribution percentage Biofuel threshold percentage Biofuel threshold percentage disparity C (A x B) claim on one Part III Company wide Company wide: Complete Part III of the IA Compute the credit for the retail motor fuel site on line 3 by multiplying the tax credit rate entered on line 2 by total ethanol gallonage in line 1 for each calendar year in computed on lines 8a 8e by multiplying the biodiesel blended fuel (column Credit Calculation for Both Company Credit for ethanol sold Multiply line 1 by line 2 Credit rate disparity calculated under On line 1 report ethanol Divide line 9 column C by line 7 column Enter in Enter in Part II of the IA Enter on Part II of the IA 148 Tax Credits Enter on Part II of the IA 148 Tax Credits Schedule and provide pass through information on Enter the appropriate credit rate for the retail site in line 2 shown in the table below Ethanol Promotion Ethanol Promotion Tax Credit: EXAMPLE: F (D x E) filers Fiscal year filers Fiscal year filers see instructions to annualize line 7 for calendar year 2013 sales Divide line 9 column F by line 7 column D for calendar year 2014 sales i e 12 05% (Biofuel distribution percentage) 11 Biofuel threshold percentage If a taxpayer files a tax return for a fiscal year that extends into 2014 the calculation must be performed separately for all gallons sold during 2013 and for all gallons sold from January 1 2014 through the end of the taxpayer s fiscal year If line If line 12 is 4 01% or more you are not eligible for the credit If line 12 of Part I = 0 01% to 2 00% enter 06 If line 12 of Part I = 0 enter 08 If line 12 of Part I = 2 01% to 4 00% enter 04 If line 7 for 2013 for all sites is 200 000 gallons or less enter 12% If line 7 for 2013 for all sites is more than 200 000 gallons enter 14% If line 7 for 2014 for all sites is 200 000 gallons or less enter 13% If line 7 for 2014 for all sites is more than 200 000 gallons enter 15% If more than one additional blend is sold provide that information on a separate page and include in the total pure biodiesel sold on line 8 column C or column F If sales of biodiesel blended fuel are made for a blend other than those listed designate the biodiesel gallons sold in line 8e column If the retail dealer chooses the Company wide method form will include sales at all retail locations in Iowa and II will be completed If the retail dealer chooses the Site by site method then Part and Part II of the form must be completed for each retail motor eligible for the credit If the Site by site method is chosen the retail sales at all sites in Iowa in determining the biofuel threshold percentage on line 11 of Part I If the taxpayer elects the Site by site method only list a pass through If the taxpayer files a tax return on a calendar year basis then only 2013 gallons need to be reported Indicate determination method: Iowa Department line 11 exceeds line 10 by more than 4 01% for the calendar year the taxpayer is not eligible to claim the credit on any ethanol sales for that calendar year under the Company wide method or for that retail site under the Site by site method Line 4 of Part II for Company wide motor fuel sites on line 4 of all Part II s and place on Part III line 1 of the IA multiplying the retail dealer s total ethanol gallonage at that site by the tax credit rate Name(s) Only one Part III must be completed under either method or column D or column D and the or column D and the total pure ethanol gallons sold 5 column C or column F or column D from or column D is the total number of gallons of gasoline sold; this does not include any biodiesel or diesel gallons sold or column D the ethanol content percentage in line 4 ethanol gallonage in column C or column F If more than one additional blend is sold provide that information on a separate page and include sold on line 7 column Other biodiesel gallons PART I Determination of Biofuel Part I: Determination of biofuel distribution percentage and biofuel threshold Part II of the IA Part II: Determination of the credit PART III Final Credit Calculation (complete only once for Site by site Part III: Final calculation of credit Part IV Part IV of the IA 148 Tax Credits Schedule partnership LLC S corporation estate or trust indicate that amount on Part III line 2 of the IA 137 Pass through credit from partnership LLC S corporation estate or trust Pass through entity (if applicable) Pass through FEIN Percentage Disparity 0 0 01% to 2 00% 2 01% to 4 00% 4 01% or more percentage disparity Calendar year Place the credit calculated on line 4 of Part II on Part III line 1 of the IA 137 Provide Name and (text) Provide the name and address of the retail motor fuel site including street city and Provide the name and SSN or FEIN of the taxpayer claiming the credit Record the Report the ending date of the tax year in which the credit is being claimed If the Ethanol Promotion result to two decimal places for example 12 05% retail dealer files on a calendar year basis and chooses the Site by site method to compute the credit sales for the company calculated For fiscal year filers split between calendar years Enter the credit rate for the company Compute the credit for the retail motor rate entered on line 2 by total ethanol gallonage which ethanol sales are reported Schedule 1 sells 125 000 gallons of gasoline during 2013 Site by site Site by site: site method chosen with the first return is binding on the retail dealer for subsequent the Department for a change in the method SSN or FEIN Table Tax Credit can be claimed even if the taxpayer also claims the E85 Gasoline Promotion Credit or the E15 Plus Gasoline Promotion Tax Credit claims sum all claims and enter on Part III line 2 of the IA 137 but list the claims separately on Part II of the IA 148 Tax Credit depends on whether the taxpayer attains the biofuel threshold percentage which in turn is dependent on the number of total gasoline gallons sold at all retail motor fuel sites operated by the taxpayer during the calendar year even if the Site by site method is chosen Tax Credit for each retail motor fuel site is calculated by Tax Credit for the same ethanol gallons Tax Credit from a Tax Credit is available Tax Credit is being passed through to the taxpayer by a S Corportation partnership LLC estate or trust also provide that entity name and FEIN Tax Credit Rate Tax Credit Rate 8 cents 6 cents 4 cents 0 cents Tax Credit rate the taxpayer subtracts Tax Credits Schedule Tax Credits Schedule If the taxpayer has received any pass through Ethanol Promotion Tax Credits Schedule must be completed Tax Credits Schedule providing each pass through name and FEIN in Tax Credits Schedule providing the pass through name and FEIN in Part IV of the IA 148 Tax Credits Schedule If the taxpayer has received multiple pass through Ethanol Gasoline Promotion Tax Period Ending taxpayer with a fiscal year beginning May 1 2013 April 30 2014 with sales of 100 000 gallons at all retail locations and December 31 2013 would have annualized 2013 sales would result in a 2013 biofuel threshold percentage of 12% Taxpayers with total gasoline sales exceeding 200 000 gallons in a year face a higher biofuel percentage threshold than taxpayers with total gasoline sales of 200 000 gallons or less The biofuel distribution percentage is calculated by adding the total ethanol gallonage line 5 and the total biodiesel gallonage line 9 and dividing this sum by the total gasoline gallonage line 7 The biofuel or less during The biofuel threshold 200 000 gallons during the The biofuel threshold or less during the 2014 The biofuel threshold percentage 200 000 gallons during the 2014 For fiscal year filers it is necessary percentage for each calendar year in In order to do this the number of gasoline gallons sold to determine whether 200 000 gallons of motor 2014 calendar years for purposes of the biofuel the biofuel threshold percentage on line 11 of each Part I since the total gallons sold during 2013 at all retail sites in Iowa exceeds 200 000 gallons the calculated biofuel distribution percentage on line 10 column The ethanol percentage used for E85 ethanol contained in E85 during warm If a blend other than E10 E15 or E85 is sold designate the ethanol A The Ethanol Promotion The IA the proper biofuel threshold percentage on line 11 column The retail dealer has two sites in Iowa and each site The retail dealer must enter 14% as The tax credit rate applied under the Ethanol Promotion The taxpayer calculates a separate biofuel threshold percentage disparity for each calendar year for which sales are reported on the form If line 10 exceeds line 11 enter zero If The total biodiesel gallonage is the total number of pure biodiesel This is The total ethanol gallonage This is computed on lines 1 4 A/ column D) by the appropriate example 10 000 gallons of of ethanol results in an ethanol The total gasoline gallonage computed in line 7 column This Ethanol Promotion Enclose Threshold To determine the applicable Ethanol Promotion Total biodiesel gallonage Total ethanol gallonage Total ethanol sold Enter line 5 of Part I Total gasoline gallonage which ehtanol Company wide: The credit is calculated total ethanol gallonage tax credit rate which biofuel threshold percentage which is dependent upon the retail site s biofuel threshold percentage disparity calculated under Part I on a Site by site basis On line 1 report ethanol sales for the retail motor fuel site calculated on line 5 of Part I For fiscal year filers split sales between calendar years who operate motor fuel Tank wagons are considered For tax years beginning on or the retail dealer can choose compute the biofuel distribution percentage and tax credit on a Company wide or The Company wide or Siteby www iowa zip code The Ethanol Promotion