Form RPD-41322 Application for Blended Biodiesel Fuel Tax Credit

Blended biodiesel fuel means a diesel fuel that contains at least 2% biodiesel Diesel fuel means any diesel engine fuel used for the generation of power to propel a motor vehicle If the special fuel excise tax is paid or would have been paid during the period: The credit is the following rate per gallon: 1 Application period Enter the calendar year or portion of the A husband and wife who file separate returns for a taxable year in which they could have filed a joint return may each claim only one half of the credit that would have been allowed on a joint return A taxpayer who otherwise qualified for and claims a credit for blended biodiesel fuel on which special fuel excise tax has against the tax due on the return for each gallon of blended biodiesel fuel on which that person paid the special fuel excise tax in the taxable year or would have paid the special fuel excise tax in the tax year but for certain deductions allowed for special fuel sold pursuant to Subsections B through F of Section 7 16A 10 NMSA 1978 (see the instructions) or the treaty exemption for North Atlantic Treaty Organization use To qualify the taxpayer must be a registered New Mexico supplier who files Form RPD 41306 Combined Fuel Tax Report reporting qualifying biodiesel fuel receipts Taxpayers use Form RPD 41322 Blended Biodiesel Fuel Tax Credit Application to establish eligiblity to claim the blended biodiesel fuel tax credit Approved credit can be applied to the tax liability for the year during which the special excise tax was paid or should have been paid and who files a New Mexico personal or corporate income tax return may claim a credit against the income tax due on the assistance please call (505) 476 3683 B100 blend stock for distillate fuels because the fuel was destroyed by fire accident or acts of God before retail sale The credit may not be claimed with respect been paid by a partnership or other business association of which the taxpayer is a member may claim a credit only in pro portion to the taxpayer s interest in the partnership or business association The total credit claimed in the aggregate by all members of the partnership or business association shall not exceed the amount of credit allowed When the credit is split between spouses partners or other business associates each claimant must submit the claimant s income tax return with Form RPD 41340 Blended Biodiesel Fuel Tax Credit Claim Form for the portion of the credit claimed Beginning January 1 2007 but not after December 31 2012 a taxpayer who is required to pay the special fuel excise tax BLENDED BIODIESEL FUEL TAX CREDIT APPLICATION BLENDED BIODIESEL FUEL TAX CREDIT APPLICATION Instructions ABOUT THIS CREDIT calendar year of this application period Certain deductions allowed from special fuels excise tax include special fuel: Division of the total credit dyed in accordance with federal regulations; and from January 1 2007 until December 31 2010 $0 03 from January 1 2011 until December 31 2011 $0 02 from January 1 2012 until December 31 2012 $0 01 Gallons of biodiesel fuel Enter the number of gallons of blended biodiesel fuel eligible for the credit during the applica tion period gallons sold or deducted HOW TO APPLY FOR THIS CREDIT I declare that I have examined this form including any accompanying schedules and statements and to the best of my knowledge and belief it is true correct and complete If the credit for the eligible business is divided among two or more individuals complete the following information for each eligible owner partner or associate below Indentify all business owner(s) partner(s) or associate(s) eligible to claim a por tion of the credit on this application Attach a supplemental report if additional space is needed See ABOUT THIS CREDIT in the instructions for this credit for further guidance regarding the division of the total credit amount IMPORTANT DEFINITIONS Biodiesel means renewable biodegradable monoalkyl ester combustible liquid fuel that is derived from agricultural plant in which the credit is granted the credit may be carried forward for five years Attach a detailed schedule of the qualified Mail to Taxation and Revenue Department ATTN: Special Fuels P O Box 25123 Santa Fe New Mexico 87504 25123 For Mailing address Name and phone number of contact person MM/DD/YY MM/DD/YY Multiply line 2 by line 3 and enter the total This is the amount of blended biodiesel fuel tax credit applied for Name and address FEIN or SSN $ Amount allowed Name and address FEIN or SSN $ Amount allowed Name of business New Mexico CRS identification number oils or animal fats and that meets American society for testing and materials D 6751 standard specification for biodiesel Once approved use Form RPD 41340 Blended Biodiesel Fuel Tax Credit Claim Form to claim the credit against personal or corporate income tax liabilities Attach the claim form to your income tax return Rate of the credit for this application period See the credit rate schedule in the instructions and enter the rate per gallon applicable to the application period return for each gallon of blended biodiesel fuel on which that person paid the special fuel excise tax in the taxable year or would have paid the special fuel excise tax in the tax year but for certain deductions allowed for special fuel sold (see below) or the treaty exemption for North Atlantic Treaty Organization use Rev 02/2011 RPD 41322 State of New Mexico Taxation & Revenue Department Section 7 16A 2 1 NMSA 1978 and who files a New Mexico personal or corporate income tax return may claim a credit Signature of Taxpayer or Agent Title Date sold for the generation of power to propel a school bus sold to an Indian nation tribe or pueblo or any agency or instrumentality thereof for its exclusive use; sold to the state of New Mexico or any political subdivision agency or instrumentality thereof for its exclusive use; sold to the United States or any agency or instrumentality thereof for its exclusive use; The blended biodiesel tax credit may not be claimed for blended biodiesel fuel on which a credit or refund has been claimed The income tax credit amount is as follows: through to the same blended biodiesel fuel for which a credit has been claimed pursuant to the Income Tax Act or the Corporate Income and Franchise Tax Act Use Form RPD 41322 Blended Biodiesel Fuel Tax Credit Application for reporting qualifying biodiesel fuel receipts to es tablish eligibility for the credit You may establish eligiblity for a portion of or all of a calendar year but all approved credit from qualifying blended biodiesel fuel must be claimed on the income tax return for the tax period in which the special fuels excise tax was due The credit may only be applied against the corporate or personal income tax liability of the person who paid the special fuel excise tax on the blended biodiesel fuel or who would have paid the special fuel excise tax but for the deductions allowed according to Subsections B through F of Section 7 16A 10 NMSA 1978 (see above) or the treaty ex emption for North Atlantic Treaty Organization use If the credit exceeds the person s income tax liability for the taxable year WHO MAY FILE THIS FORM A rack operator or supplier who is required to pay the special fuel excise tax according to