I was wondering if any of you run or own a transportation company that deals with ifta and fuel tax and use an alternative diesel. I am looking into alternative fuels but have not yet found out how taxes on this fuel will be paid. If anyone is using alternatives and dealing with this how are you claiming the fuel on your quarterly reports?
It's bad enough that transport companys are paying double taxes on fuel already but if the bio could be produced(including the taxes) for 3/4 of pump price it would be worth it for my company.
Ohh, the most recent rate raise was quite good blaine but I am looking at more money staying put in the bank....in my account and not the oil company's. I was thinking about learning and making my own bio. More so for personal vehicles to save money at home but eventually hoping to produce enough for 2-3 fills in the tractors per week. We are running completely in the southeast and can usually run an entire day trip with out filling up on the road(although we fill up anyway for the next day). What I'm looking at is if we were to fill up soley off of bio at main shop everyday and never had a fuel receipt how I would claim that fuel on my reports. After all they would eventually want to know how I was averaging 25,000 miles/ quarter w/o fueling. I am worried that they may tax the fuel more in order to discourage the use making the savings un worth the time and work to produce it for commercial use.....but hey willie can do it then why can't the rest of us?
It's not the extra fuel taxes that will bite you; it's the penalties.
Willie WAS doing it on the up-and-up, but the company was horribly mis-managed, and he's not doing it any more. At least that's what I read a couple of months ago. They're gonna finish the facility, but at a horrible loss. They may never break even. And they were doing it at the distributor level, because they were going to be selling to the general public.