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Click ‘Get Form’ to open the FT-949 in the editor.
Begin by entering your name, telephone number, and Certificate of Authority number in the claimant section. Ensure all details are accurate.
In Section 1, summarize your sales. For each type of fuel sold, input the number of gallons in Column B and the prepaid sales tax per gallon in Column C. Multiply these figures to get the refund claimed in Column D.
List any exempt purchasers in Column F and provide a reason for exemption in Column G using the appropriate codes.
Move to Section 2 to summarize your purchases. Fill out similar columns as in Section 1, ensuring you attach copies of all relevant invoices.
Finally, certify your application by signing and providing your official title and email address before submitting it through our platform.
Start filling out your FT-949 form online for free today!
The person that produced and sold or used a qualified mixture (a mixture of SAF and kerosene) is the only person eligible to make this claim. The credit is based on the gallons of SAF in the qualified mixture.
How do I get the fuel tax credit for my small business?
To claim this credit, use Form 4136: Credit for Federal Tax Paid on Fuels, and include it with your tax return. Follow these steps: Define your use of the fuel: Ensure it qualifies as nontaxable, such as off-highway business use or farm equipment operations.
Do I need a 1099R for taxes?
File Form 1099-R for each person to whom you have made a designated distribution or are treated as having made a distribution of $10 or more from: Profit-sharing or retirement plans. Any individual retirement arrangements (IRAs). Annuities, pensions, insurance contracts, survivor income benefit plans.
What vehicles qualify for alternative fuel tax credits?
To qualify for the Alternative Motor Vehicle Credit, the vehicle must be a Qualified Fuel Cell Vehicle. This is a vehicle propelled by power derived from one or more cells that convert chemical energy directly into electricity by combining oxygen with hydrogen fuel, and that meets certain additional requirements.
How to figure taxes for 1099?
As a 1099 contractor, youre responsible for your own taxesno one withholds them for you. A general rule is to set aside 25-35% of your income for federal, state, and self-employment taxes. Consult with a tax professional to get a more accurate understanding of your tax liability.
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People also ask
Who is eligible for alternative fuel vehicle refueling property credit?
Who qualifies. The credit is available to businesses and individuals who qualified refueling or recharging property, including electric vehicle charging equipment, in an eligible location. Eligible tax exempt and government entities can also claim the credit through elective pay.
Who qualifies for sales tax exemption in Arkansas?
Tax-exempt customers Some customers are exempt from paying sales tax under Arkansas law. Examples include government agencies, some nonprofit organizations, and merchants purchasing goods for resale. Sellers are required to collect a valid exemption or resale certificate from buyers to validate each exempt transaction.
Related links
Form FT-949:1/12: Application for Refund of Prepaid Sales
Refunds of prepaid sales tax may be claimed when motor fuel was sold and no sales tax was charged because the motor fuel was sold to an exempt purchaser (see
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