422.111 Fuel tax credit as income tax credit.
1. The fuel tax credit may be applied against the income tax liability of the person or corporation as determined on the tax return filed for the year in which the fuel tax was paid. The department shall provide forms for claiming the fuel tax credit. If the fuel tax credit would result in an overpayment of income tax, the person or corporation may apply for a refund of the amount of overpayment or may have the overpayment credited to income tax due in subsequent years. Each person or corporation that claims a fuel tax credit shall maintain the original invoices showing the purchase of the fuel on which a credit is claimed. An invoice is not acceptable in support of a claim for credit unless the invoice is a separate serially numbered invoice covering no more than one purchase of motor fuel or undyed special fuel, prepared by the seller on a form approved by the department, or unless the invoice is legibly written with no corrections or erasures and shows the date of sale, the name and address of the seller and of the purchaser, the kind of fuel, the gallonage in figures, the per gallon price of the fuel, the total purchase price including the Iowa fuel tax, and that the total purchase price has been paid. However, as to refund invoices made on a billing machine, the department may waive these requirements. If an original invoice is lost or destroyed, the department may approve a credit supported by a copy identified and certified by the seller as being a true copy of the original. Each person or corporation that claims a fuel tax credit shall maintain complete records of purchases of motor fuel or undyed special fuel on which Iowa fuel tax was paid, and for which a fuel tax credit is claimed.
2. In order to verify the validity of a claim for credit the department shall have the right to require the claimant to furnish such additional proof of validity as the department may determine and to examine the books and records of the claimant. Failure of the claimant to furnish the books and records for examination shall constitute a waiver of rights to claim a credit related to that taxpayer’s year and the department may disallow the entire credit claimed by the taxpayer for that year.
[C75, 77, §422.87; C79, 81, §422.111]
88 Acts, ch 1205, §24; 99 Acts, ch 151, §27, 28, 89; 2020 Acts, ch 1062, §94
Structure Iowa Code
Chapter 422 - INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES
Section 422.1 - Classification of chapter.
Section 422.2 - Purpose or object.
Section 422.3 - Definitions controlling chapter.
Section 422.4 - Definitions controlling subchapter.
Section 422.5 - Tax imposed — exclusions — alternative minimum tax.
Section 422.6 - Income from estates or trusts.
Section 422.7 - “Net income” — how computed.
Section 422.8 - Allocation of income earned in Iowa and other states.
Section 422.9 - Deductions from net income.
Section 422.10 - Research activities credit.
Section 422.10A - Geothermal tax credit.
Section 422.10B - Renewable chemical production tax credit.
Section 422.11 - Franchise tax credit.
Section 422.11A - New jobs tax credit.
Section 422.11B - Minimum tax credit.
Section 422.11C - Workforce housing investment tax credit.
Section 422.11D - Historic preservation tax credit.
Section 422.11E - Beginning farmer tax credit program.
Section 422.11F - Investment tax credits.
Section 422.11G - Venture capital fund investment tax credit.
Section 422.11H - Endow Iowa tax credit.
Section 422.11I - Geothermal heat pump tax credit.
Section 422.11J - Tax credits for wind energy production and renewable energy.
Section 422.11K - Economic development region revolving fund contribution tax credit.
Section 422.11L - Solar energy system tax credits.
Section 422.11M - Agricultural assets transfer tax credit.
Section 422.11N - Ethanol promotion tax credit.
Section 422.11O - E-85 gasoline promotion tax credit.
Section 422.11P - Biodiesel blended fuel tax credit.
Section 422.11Q - Iowa fund of funds tax credit.
Section 422.11R - From farm to food donation tax credit.
Section 422.11S - School tuition organization tax credit.
Section 422.11T - Hoover presidential library tax credit.
Section 422.11U - Third-party developer tax credit.
Section 422.11V - Redevelopment tax credit.
Section 422.11W - Charitable conservation contribution tax credit.
Section 422.11X - Disaster recovery housing project tax credit.
Section 422.11Y - E-15 plus gasoline promotion tax credit.
Section 422.11Z - Innovation fund investment tax credits.
Section 422.12 - Deductions from computed tax.
Section 422.12A - Adoption tax credit.
Section 422.12B - Earned income tax credit.
Section 422.12C - Child and dependent care or early childhood development tax credits.
Section 422.12D - Income tax checkoff for the Iowa state fair foundation fund.
Section 422.12E - Income tax return checkoffs limited — notification of repeal.
Section 422.12F - Income tax checkoff for child abuse prevention program fund.
Section 422.12H - Income tax checkoff for fish and game protection fund.
Section 422.12I - Income tax checkoff for the Iowa state fair foundation fund.
Section 422.12J - Income tax checkoff for Iowa election campaign fund.
Section 422.12K - Income tax checkoff for child abuse prevention program fund.
Section 422.12M - Income tax form — indication of dependent child health care coverage.
Section 422.12N - Geothermal heat pump tax credit.
Section 422.13 - Return by individual.
Section 422.14 - Return by fiduciary.
Section 422.15 - Information at source.
Section 422.16A - Job training withholding — certification and transfer.
Section 422.16B - Pass-through entity composite returns.
Section 422.17 - Certificate issued by department to make payments without withholding.
Section 422.19 - Scope of nonresidents tax.
Section 422.20 - Information confidential — redactions — penalty.
Section 422.21 - Form and time of return.
Section 422.22 - Supplementary returns.
Section 422.23 - Return by administrator.
Section 422.24 - Payment — interest.
Section 422.24A - Start-up business tax deferment.
Section 422.25 - Computation of tax, interest, and penalties — limitation.
Section 422.25A - Reporting and treatment of certain partnership adjustments.
Section 422.25B - State partnership representative.
Section 422.26 - Lien of tax — collection — action authorized.
Section 422.27 - Final report of fiduciary — conditions.
Section 422.28 - Revision of tax.
Section 422.29 - Judicial review.
Section 422.30 - Jeopardy assessments — posting of bond.
Section 422.31 - Statute applicable to personal tax.
Section 422.33 - Corporate tax imposed — credit.
Section 422.34 - Exempted corporations and organizations.
Section 422.34A - Exempt activities of foreign corporations.
Section 422.35 - Net income of corporation — how computed.
Section 422.37 - Consolidated returns.
Section 422.38 - Statutes governing corporations.
Section 422.39 - Statutes applicable to corporations and corporation tax.
Section 422.40 - Cancellation of authority — penalty — offenses.
Section 422.41 - Corporations.
Section 422.60 - Imposition of tax — credit.
Section 422.62 - Due and delinquent dates.
Section 422.63 - Amount of tax.
Section 422.65 - Allocation of revenue.
Section 422.66 - Department to enforce.
Section 422.67 - Generally — bond — approval.
Section 422.68 - Powers and duties.
Section 422.69 - Moneys paid and deposited.
Section 422.70 - General powers — hearings.
Section 422.71 - Assistants — salaries — expenses — bonds.
Section 422.73 - Correction of errors — refunds, credits, and carrybacks.
Section 422.74 - Certification of refund.
Section 422.75 - Statistics — publication.
Section 422.85 - Imposition of estimated tax.
Section 422.86 - Payment of estimated tax.
Section 422.88 - Failure to pay estimated tax.
Section 422.89 - Exception to penalty.
Section 422.90 - Penalty not subject to waiver.
Section 422.91 - Credit for estimated tax.
Section 422.92 - Rules for short taxable year.
Section 422.93 - Public utility accounting method.
Section 422.100 - Allocation to the child care credit fund.
Section 422.110 - Income tax credit in lieu of refund.
Section 422.111 - Fuel tax credit as income tax credit.