IA SF2393

Retail dealers who fail to timely file required reports on total gasoline and diesel fuel gallonage sold or dispensed become ineligible for certain tax credits under Iowa Code sections 422.11O (E-85 gasoline promotion), 422.11P (biodiesel blended fuel), and 422.11Y (E-15 plus gasoline promotion).

Tax credit ineligibility applies for the current tax year and all succeeding tax years until the required report is filed.

Retail dealers who fail to file the required report or maintain necessary records may face a civil penalty of up to $100 per occurrence, with penalty amounts deposited into the state general fund.

The fuel gallonage reports are used to calculate excise tax rates on ethanol blended gasoline (E-15 or higher) and biodiesel blended fuel (B-20 or higher).