Aftc 1 Form PDF Details

For individuals and businesses in West Virginia seeking to leverage benefits for environmentally friendly choices, the AFTC-1 form serves as a crucial document. This comprehensive form pertains to claiming various segments of the Alternative-Fuel Tax Credit, catering to different categories such as the Alternative-Fuel Motor Vehicle Tax Credit, Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure Tax Credit, and Qualified Alternative-Fuel Vehicle Refueling Infrastructure Tax Credit. Moreover, it outlines the procedure for owners who have received tax credits via a pass-through entity. With its introduction for tax periods after January 1, 2015, this form mandates meticulous completion of specific sections corresponding to the type of credit being claimed. Detailed documentation and adherence to specified guidelines are imperative to validate claims. The AFTC-1 form not only underscores the state's commitment to promoting alternative fuel usage but also emphasizes the importance of accuracy and honesty in the claiming process, as evidenced by the declaration that the submission is true and complete under penalties of perjury. Facilitation of this tax credit represents a step towards sustainable development and encourages taxpayers to contribute to a greener environment by investing in alternative fuel vehicles and infrastructure.

QuestionAnswer
Form NameAftc 1 Form
Form Length4 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min
Other nameswv aftc 1 form, wv alternative fuel credit, wv alternative fuel tax credit, wv alternative

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AFTC-1

West Virginia Schedule AFTC-1

West Virginia

 

 

 

 

 

Alternative-Fuel Tax Credit

State Tax

 

REV. 02/2020

(For periods AFTER January 1, 2015)

Department

 

 

 

 

 

 

 

Taxpayer

 

 

ID

 

 

Name

 

 

Number

 

 

 

 

 

 

 

 

TAX PERIOD

BEGINNING

MM

DD

YYYY

ENDING

MM

DD

YYYY

►Taxpayers desiring to claim the Alternative-Fuel Motor Vehicle Tax Credit must complete Parts A and B of this Schedule.

►Taxpayers desiring to claim the Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure Tax Credit must complete Parts A and C of the Schedule.

►Taxpayers desiring to claim the Qualified Alternative-Fuel Vehicle Refueling Infrastructure Tax Credit must complete Parts A and D of this Schedule.

►An OWNER TAXPAYER desiring to claim Alternative-Fuel Tax Credit allocated by a Pass-Through Entity subsidiary must complete Parts A and E of this Schedule.

Under penalties of perjury, I declare that I have examined this credit claim form (including accompanying schedules and statements) and to the best of my knowledge it is true and complete.

Signature of Taxpayer

Name of Taxpayer (type or print)

Title

 

Date

 

 

 

 

 

 

 

 

Person to contact concerning this return

 

 

 

Telephone Number

 

 

 

 

 

 

 

 

 

Signature of Preparer other than Taxpayer

Address

 

 

 

 

Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PART A

Alternative-Fuel Tax Credit Summary

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Current year Alternative-Fuel Motor Vehicle Credit from Part B, line 9 (Total if more than one qualifying vehicle). Amounts not

 

 

supported by Part B will be denied

 

 

 

1

$

2. Current year Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure Tax Credit from Part C, line 7. Amounts not

 

 

 

 

supported by Part C will be denied

 

 

 

2

$

3. Current year Qualified Alternative-Fuel Vehicle Refueling Infrastructure Tax Credit from Part D, line 6 (Total if more than one

 

 

 

 

qualifying refueling infrastructure). Amounts not supported by Part D will be denied

 

 

3

$

4. Alternative-Fuel Motor Vehicle Tax Credit and Qualified Alternative-Fuel Vehicle Refueling Infrastructure Tax Credit Allocated to the

 

 

 

 

Owner of a Pass-Through Entity that earned the credit as reported on Part E. Amounts not supported by Part E will be denied

4

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5. Unused, unallocated Alternative Fuel Tax Credit from prior years:

2015

$

 

 

 

 

 

 

 

 

An amended tax return (2011 and/or 2012 IT-140, CNF-120, SPF-100

2016

$

 

 

 

 

 

 

 

 

2017

$

 

 

 

or IT-140NRC) is required to claim previously unclaimed Alternative

 

 

 

Fuel Tax Credits (AFTC). If the unclaimed AFTC is associated

2018

$

 

 

 

with previously unfiled 2011 and/or 2012 tax returns, an original

 

 

 

 

 

 

 

 

2019

$

 

 

 

return is required for the tax years claimed. Any and all supporting

 

 

 

documentation must be present or the claim for credit will be denied.

 

 

 

 

 

2020

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL

5

$

 

 

 

 

 

 

 

6. Total Alternative-Fuel Tax Credit Available (add lines 1 through 5)

 

 

6

$

 

 

 

 

 

 

 

 

Continued on the next page…

Schedule AFTC-1 Page 1 of 4 Rev.02/2020

Taxpayer

Name

Part A –Continued

ID

Number

7.

...............................................................................................................Personal Income Tax liability (from line 10 of Form IT-140)

7

$

8.

Alternative-Fuel Tax Credit for application against Personal Income Tax (Enter the smaller of the amount on line 6 and the

 

 

 

 

 

amount on line 7 here and on the Tax Credit Recap Schedule

8

$

 

 

 

 

 

9.

Available Alternative-Fuel Tax Credit after application against Personal Income Tax (subtract line 8 from line 6)

9

$

 

 

 

 

10. Corporation Net Income Tax liability (from line 16 of Form CNF-120)

10

$

11. Alternative-Fuel Tax Credit for application against the Corporation Net Income Tax (Enter the smaller of the amount on line 9

 

 

 

 

 

 

and the amount on line 10 here and on the Tax Credit Recap Schedule [CNF-120TC])

11

$

 

 

 

 

 

12.

Available Alternative-Fuel Tax Credit after application against Corporation Net Income Tax (Subtract line 11 from line 9)

12

$

13.

Alternative-Fuel Tax Credit to be allocated. If the Taxpayer is a Pass-Through entity and any of the amount on line 12 is to be

 

 

 

 

 

 

allocated to the owners of the Pass-Through Entity, complete Part F and enter the total amount of credit to be allocated here...

13

$

14.

Unused, unallocated Alternative-Fuel Tax Credit for carry forward to subsequent years. Subtract the amount on line 13 from

 

 

 

 

 

 

the amount on line 12

14

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PART B

Alternative-Fuel Motor Vehicle Tax Credit

 

 

 

 

 

A COPY OF THE BILL OF SALE IS REQUIRED FOR NEW VEHICLE PURCHASES OR ANY INVOICES ASSOCIATED WITH A CONVERSION.

1. Alternative-Fuel Motor Vehicle (Enter the Vehicle Identification Number [VIN]).................................................................................

2. Alternative-Fuel Type (Check predominant Type):

1

A.

Compressed Natural Gas

B.

Liquefied Natural Gas

C.

Liquefied Petroleum Gas

***OPTIONS D, E, F, G, AND H ARE NOT AVAILABLE FOR VEHICLES PURCHASED ON OR AFTER APRIL 15, 2013.***

D.

Hydrogen E.

Electricity

85% or more by volume fuel mixture: F.

Methanol G.

EthanolH.

Other alcohols

3. West Virginia Division of Motor Vehicles Registration Number

 

3

4.

Gross Vehicle Weight (in pounds)

 

4

5.

New Purchase or conversion:

 

 

 

 

A. Date of new purchase:

 

 

 

 

**Bill of sale must be attached**

Purchase Price*

5A

$

 

or B. Date of conversion:

Actual cost of conversion

5B

$

lbs.

6.Credit factor. If new purchase, enter 0.35 (35%). If conversion of previously registered vehicle, enter .50 (50%)............................

7.Potential Credit – Multiply the price (line 5A) or the actual cost of conversion (line 5B) by the value on line 6.................................

8.Maximum Allowable Credit – If the Gross Vehicle Weight (from line 4) is less than 26,000 pounds, enter $7,500. Otherwise, enter $25,000............................................................................................................................................................................

9.Available Alternative-Fuel Motor Vehicle Credit – Enter the smaller of the value on line 7 (Potential Credit) and the value on line 8 (Maximum Allowable Credit). Also, enter this value on Part A, line 1.............................................................................................

60.

7 $

8$

9 $

Payment for the vehicle entered on line 1 has been made after January 1, 2011 and on or before April 14, 2013 (Final payment includes arrangements/acceptance for financing on/or before April 14, 2013 for vehicle fuel type other than A, B, and C listed above).

Purchaser of the vehicle has taken possession of the vehicle after January 1, 2011 and on or before April 14, 2013 for vehicle fuel type other than A, B, and C listed above.

Person claiming the credit on line 9 maintained ownership of the vehicle entered on line 1 through December 31 of purchased year.

By checking these boxes and signing the tax return, purchaser certifies this information to be true.

____________

*Purchase price means the sale price of the vehicle less any amount deducted therefrom for any trade-in allowance and/or rebates from the manufacturer or dealer.

Schedule AFTC-1 Page 2 of 4 Rev.02/2020

Taxpayer

Name

ID

Number

PART C

Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure Tax Credit

(APPLICABLE ONLY FOR INSTALLATIONS MADE PRIOR TO APRIL 15, 2013)

1.Location of Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure............................................

2.Date of installation of Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure (DOCUMENTATION MUST BE PROVIDED) See instructions on page 4.................................................

1

2

3.Total Cost of Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure................................................................................

4.Credit Factor – 0.50 (50%)................................................................................................................................................................

5.Potential Credit – Multiply the actual Total Cost of the Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure (line 3) by the value on line 4.......................................................................................................................................................................

6.Maximum Allowable Credit – $10,000...............................................................................................................................................

7.Available Qualified Alternative-Fuel Vehicle Home Refueling Infrastructure Credit – Enter the smaller of the value on line 5 (Potential Credit) and the value on line 6 (Maximum Allowable Credit). Also, enter the value on Part A, line 2..............................

3$

40.50

5$

6$ 10,000

7$

PART D Qualified Alternative-Fuel Vehicle Refueling Infrastructure Tax Credit

1. Location of Qualified Alternative-Fuel Vehicle Refueling Infrastructure.....................................................................

1

2.Total Cost directly associated with the construction or purchase of the Qualified Alternative-Fuel Vehicle Refueling Infrastructure...................................................................................................................................................................................

3.Accessibility – If the Qualified Alternative-Fuel Vehicle Refueling Infrastructure is generally available for public use enter 1.25, otherwise enter 1.00........................................................................................................................................................................

4.Credit Factor – For refueling infrastructure placed in service before January 1, 2014, enter 0.625 (62.5%) if the value on line 3 is 1.25, otherwise enter 0.50 (50%). For infrastructure placed in service on or after January 1, 2014, enter 0.20 (20%) unless the note below applies.....................................................................................................................................................................

5.Potential Credit – Multiply the Actual Total Cost of the Qualified Alternative-Fuel Vehicle Refueling Infrastructure (from line 2) by the value on line 4.......................................................................................................................................................................

6.Maximum Allowable Credit – Determine this amount by following instructions below.

(a)For tax periods after December 31, 2010 but prior to January 1, 2014 – If line 3 is 1.00, maximum credit is $250,000. If line 3 is 1.25, maximum credit is $312,500.

(b)For tax periods after January 1, 2014 but prior to January 1, 2018 – Maximum credit is 20% of the total costs per facility, up to a maximum of $400,000.

NOTE: When the purchase and installation of qualified alternative fuel vehicle infrastructure begins prior to January 1, 2014, but is not completed and placed into service until after January 1, 2014, the taxpayer may choose to fall under the rules of either (a) or (b) but not both.

7.Available Qualified Alternative-Fuel Vehicle Refueling Infrastructure Credit – Enter the smaller of the value on line 5 (Potential Credit) and the value on line 6 (Maximum Allowable Credit). Also, enter the value on Part A, line 3..............................................

2$

31.___

40.___

5$

6 $

7$

PART E

Alternative-Fuel Motor Vehicle Tax Credit and Qualified Alternative-Fuel Vehicle Refueling Infrastructure Tax Credit Allocated to Owner from Pass-Through Entity

 

 

Pass-Through Entity

 

 

 

Pass-Through Entity Name

 

Employer Identification Number (EIN)

 

Amount of Credit Allocated

 

 

 

$

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

Schedule AFTC-1 Page 3 of 4

 

 

TOTAL $

Rev.02/2020

 

 

 

 

 

 

 

Taxpayer

Name

ID

Number

PART F Unused Alternative-Fuel Tax Credit Allocation to Owners

Owner Name

Owner EIN/SSN

Owner %

Credit Allocated

 

 

 

 

% $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $

TOTAL ALLOCATED CREDIT $

Schedule AFTC-1 Page 4 of 4 Rev.02/2020

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