Do you use propane powered forklifts in your business?
If so, you may qualify for a new tax credit. Propane used in forklifts qualifies for a $.50 per gallon tax credit, even if your purchase of the propane was excise tax exempt. This credit could be a significant benefit to your business, especially if you run more than one forklift at a time. After a brief approval process, your business can file the claim for this credit with its annual income tax return. Call your accountant to find out if you could receive a refund for propane used since 9/30/06, as well as taking advantage of this credit opportunity going forward.