North Carolina Fishing Reports

wshackne · Posted: Tue Mar 04, 2008 5:55 pm Post subject: Fuel Excise Tax Refund

Evening all! I just met with my accountant and he said that I can't get my excise tax refunded for boat fuel because I am not currently fishing commercially.

Here is the form you fill out:

http://www.dor.state.nc.us/downloads/forms_motor.php?url=gas1201_2007.pdf

Here are the instructions:

http://www.dor.state.nc.us/downloads/gas1201inst_2007.pdf

They basically say:

Capt_Don · Posted: Tue Mar 04, 2008 6:46 pm Post subject:

GAS 1201 like you posted. It doesn't matter if its for rec. or commercial, as long as it's gas used in a boat, etc. (Non highway usage). Next year you'll file it on the website and get the refund much faster.

duckslayer76 · 2nd Mate Joined: May 25, 2006 Posts: 30

i get my road tax back every year.

wshackne · Posted: Tue Mar 04, 2008 7:18 pm Post subject:

Good deal. This is what I wanted to know. I didn't think my commercial status made a difference. Thank you!
_________________
Spence Hackney
"Sweet T"
232 Grady White with Twin Yamaha 150s

chumpuppy · Ol'Salt Joined: Apr 17, 2007 Posts: 120

Yup, it's easy. I got my $53 last week. That will buy enough gas to get to WR4 and 1/2 way back

wshackne · Posted: Wed Mar 05, 2008 8:12 am Post subject:

Thanks for the help....I am not sure if $53 will get me out of the inlet anymore!
_________________
Spence Hackney
"Sweet T"
232 Grady White with Twin Yamaha 150s

Squid Row · Ol'Salt Joined: Jan 11, 2005 Posts: 591

Your accountant is wrong. The fuel tax is actually a highway use tax added to the cost of fuel. Since boats do not run on the highway you are eligible for a refund via form 1201

I sent mine in and just got about 180 bucks back. The good news is that I also sent in a form for 2006 along with my 2007 form. The 2006 form somehow never got to the folks at the Motor Fuels tax division and they honored that as well and I got another 130 bucks back

As much as I loathe dealing with a gubmint entity, especially one that takes my money, the people I have spoken to at the Motor Fuels tax division have been extremely nice and surprisingly helpful.

Give them a call if you have any questions.
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chugger · Posted: Wed Mar 05, 2008 8:48 am Post subject:

what is the actual % of road tax you get back? Is it a good amount or should I belive the gorvernment still keeps most of it?

wshackne · Posted: Wed Mar 05, 2008 8:52 am Post subject:

Mine ended up being about $.15 per gallon on a non-commercial vessel.
_________________
Spence Hackney
"Sweet T"
232 Grady White with Twin Yamaha 150s

chugger · Posted: Wed Mar 05, 2008 8:55 am Post subject:

ok, thanks.

Good Fishing!

hrdcor32 · Posted: Wed Mar 05, 2008 9:52 am Post subject:

Got mine just fine as well, get a new accountant!
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Haul-In

sheaD · Deck Hand Joined: Jan 29, 2008 Posts: 11

We do this for a few of our clients at the CPA firm that I work for. For your federal return, the fuel has to be for commercial use. However, for your state return it can be for commerical or pleasure.

Capt_Don · Posted: Wed Mar 05, 2008 3:02 pm Post subject:

Jeremy1 · Posted: Wed Mar 05, 2008 5:47 pm Post subject:

Did mine got 78 bones. Better than nothing
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Hydra-Sport 212CC

Curmudgeon · Ol'Salt Joined: Mar 03, 2006 Posts: 112

For your federal return, the fuel has to be for commercial use. However, for your state return it can be for commerical or pleasure.

They're talking about a return of highway use tax using the state GAS-1201 form, has nothing to do with tax returns ... Wink


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