American Tax Payer Relief Act of 2013 extends the Alternative Fuel Credit
The American Tax Payer Relief Act of 2013 provided a two year temporary extension of various energy tax incentives, including the Alternative Fuels Credit. The credit applies to alternative fuels used by a taxpayer in, or sold by a taxpayer for use in, various off-road vehicles. The most common use in the manufacturing sector is for the powering of forklifts.
The term “alternative fuel” includes:
The credit had expired on December 31, 2011. The signed legislation makes the renewed credit retroactive to January 1, 2012 and sets the new expiration date at December 31, 2013.
If you would like additional information on this topic or have any questions, please contact the firstname.lastname@example.org