Iowa DOR Issues Updates on Fuel Tax Information Document

The Iowa Department of Revenue (DOR) July 1 issued information on updates to the Iowa Fuel Tax Information document. The updates include: 1) changes to the fuel tax rates for undyed biodiesel and ethanol-blended fuel, effective July 1; 2) the requirement for a Fuel Tax Inventory Return for persons holding fuels in storage for sale on July 1, where there is an increase in the tax rate above one-half cent per gallon; and 3) income tax credits and sales and use tax refunds for use, sale, and production of fuel. [Iowa Dep’t of Revenue, Iowa Fuel Tax Information, 07/01/24]

This ...