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#1
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how to claim BioDiesel or WVO tax credit???
i was told that i could get a tax credit for making my own biodiesel or WVO. i did some searching and have found some sites.
http://www.greencarcongress.com/2004/10/biodiesel_tax_c.html i am not sure if i can claim the credit if i made my own WVO. anyone have any better knowledge in this area?
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Grey '91 350SDL 214k Dad's car Beige '81 240D 4 Speed 254k SOLD Blue '82 300D 225k SOLD White '95 E300D 46k SOLD Blue '87 190D 2.5 Turbo 315k SOLD Brown '80 240D 4 Speed 716k SOLD Beige '80 300D N/A 119k SOLD Blue '85 300D Model 186k T-Boned |
#2
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I would be REAL careful in how you address WVO iun your taxes. Since you are not paying any kind of road tax with that option, you would probably be under scrutiny, and may have some sort of fine (depending what state you are in, I'm sure). I believe because of road taxes, using WVO (free) is actually illegal.
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1989 300E 144K |
#3
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Quote:
Now there was something I heard of a while back in Illinois about getting a deduction for modifying your vehicle to burn alternative fuels, but I always was afraid of that due to the road tax issue. I figured they just wanted your name to put on a list somewhere for later reference. When you are running WVO or your own biodiesel, you are committing tax evasion (at least at the federal level, if not at the state level). I haven't heard this issue discussed a lot recently, but several years ago most states didn't really care much because it was such a rare thing. As it gains popularity, though, I wouldn't be surprised to hear more stories of people getting in trouble for it. That's why I prefer to stay under the radar.
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Keep everything as simple as possible-but no simpler--Albert Einstein |
#4
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so really this is only for suppliers that manufacture massive amounts of biodiesel from pure or waste oils.
bummer, glad i asked first though.
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Grey '91 350SDL 214k Dad's car Beige '81 240D 4 Speed 254k SOLD Blue '82 300D 225k SOLD White '95 E300D 46k SOLD Blue '87 190D 2.5 Turbo 315k SOLD Brown '80 240D 4 Speed 716k SOLD Beige '80 300D N/A 119k SOLD Blue '85 300D Model 186k T-Boned |
#5
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But homebrew biodiesel is exempt from road taxes and federal taxes because its considered a "fuel additive". So your not committing a tax evasion. As for running straight wvo that i dont know, maybe you are commiting a tax evasion running wvo i guess.
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Current: 05 E320 CDI 07 GL320 CDI 08 Sprinter 05 Dodge Cummins 01 Dodge Cummins Previous 2004 E55 AMG 2002 C32 AMG (#2) 1995 E300 1978 300D 1987 300D 2002 C32 AMG(blown motor :[ 1981 300SD 1983 300SD 1987 300SDL 2002 Jetta TDI 1996 S420 1995 S500 1993 190E 2.6 1992 190E 2.3 1985 190E 2.3 5-Speed |
#6
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There is a Tax topic w/link in the DIY/FAQ's
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"If anyone knows other lessons I need to learn, please tell me. I'm tired of learning them the hard way". by JerryBro The Glow Plug Wait: This waiting period is a moment of silence to pay honor to Rudolph Diesel. The longer you own your diesel the more honor you will give him". by SD Blue My normal daily life; either SNAFUed- Situation Normal... All Fouled Up, or FUBARed- Fouled Up Beyond All Repair 62 UNIMOG Camper w/617 Turbo, 85 300SD daily driver- both powered by blended UCO fuels |
#7
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Talk to a CPA and maybe a lawyer that works with tax codes.
When it comes to legal and tax matters don't diy, it could cost you if you screw up.
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1999 SL500 1969 280SE 2023 Ram 1500 2007 Tiara 3200 |
#8
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Quote:
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Andrew '04 Jetta TDI Wagon '82 300TD ~ Winnie ~ Sold '77 300D ~ Sold
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#9
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WVO is not at this time considered a fuel, so it is by law a fuel additive. To be listed as a fuel it needs to be tested and scrutinized to meet a set of standards. This is a very expensive process not likely to be funded by the average joe. Until WVO is listed as a fuel its a grey area of the law, no tax break that I've heard, no law against it.
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