Instructions for Schedule AFTC-1 Alternative Fuel Tax Credit for Periods Beginning on or After January 1, 2015 - West Virginia

This document contains official instructions for Schedule AFTC-1 , Alternative Fuel Tax Credit for Periods Beginning on or After January 1, 2015 - a form released and collected by the West Virginia State Tax Department.

FAQ

Q: What is Schedule AFTC-1?
A: Schedule AFTC-1 is a form used to claim the Alternative Fuel Tax Credit in West Virginia.

Q: What does the Alternative Fuel Tax Credit apply to?
A: The Alternative Fuel Tax Credit applies to alternative fuels used in vehicles.

Q: When can the Alternative Fuel Tax Credit be claimed?
A: The credit can be claimed for periods beginning on or after January 1, 2015.

Q: How do I claim the Alternative Fuel Tax Credit?
A: You can claim the credit by filling out Schedule AFTC-1 and attaching it to your West Virginia tax return.

Q: Are there any eligibility requirements for claiming the Alternative Fuel Tax Credit?
A: Yes, you must have purchased or produced the alternative fuel and used it in a qualified vehicle.

Q: What type of vehicles are considered qualified vehicles?
A: Qualified vehicles include those powered by electricity, natural gas, propane, or hydrogen.

Q: Is there a limit to the amount of credit that can be claimed?
A: Yes, the credit is limited to $7,500 per vehicle.

Q: Are there any documentation requirements for claiming the Alternative Fuel Tax Credit?
A: Yes, you must keep records of your alternative fuel purchases and vehicle usage to support your claim.

Q: When is the deadline for claiming the Alternative Fuel Tax Credit?
A: The credit must be claimed within three years from the due date of the original tax return for the period in which the alternative fuel was purchased or produced.