Boat fuel

Discussion in 'LOCAL MISSOURI TALK' started by Angler2007, May 28, 2007.

  1. Angler2007

    Angler2007 New Member

    Messages:
    489
    State:
    Missouri
    I was watching the news tonight and learned something that I thought I would pass on to you all. Did you know that in the state of MO you can save 17 cents/gal on fuel. You have to save your fuel receipts and turn them in on your taxes. As much as some of us fish that would add up to a decent return. Good luck fishing to all!
     
  2. cpalombo

    cpalombo New Member

    Messages:
    318
    State:
    Nashville TN
    Ya, and they send a note back to you in your tax return that asks you for your favorite upcomming date to begin your tax audit.

    Is this Federal or State tax? Is it for charter caps doing a work cost deduction?

    Please tell me where I find out more about this? And if you say Santa Clause or April Fools, you are in trouble.

    Sounds fishy so far.... But I would like to know more about these strange new teachings.


    CP
     

  3. RivrLivn

    RivrLivn Member

    Messages:
    194
    State:
    Missouri
    I did it for the first time with last years receipts and posted a thread with the links a while back. I also save receipts for all the gas I put in my lawn equipement and ATV. They sent me a check in a few weeks.
    Not much trouble at all.
     
  4. RivrLivn

    RivrLivn Member

    Messages:
    194
    State:
    Missouri
  5. AwShucks

    AwShucks New Member

    Messages:
    4,532
    State:
    Guthrie, Oklaho
    That is a provision in the IRS regulations. Go to a public library and read those books - should be able to do it in 3 or 4 weeks. There is a lot of exclusions and exemptions in the regulations, but generally only the tax accountants know of them. And I find trying to save the receipts for a venture like this is a nightmare, and I just pay the tax. Heck, I'm a good American helping the government this way. I have probably paid for one or two cruise missiles in my life time. But if you can keep ALL your receipts and are willing to show them to an IRS auditor, if asked, you can have substantial savings on fuel used in off road activities.
     
  6. Mr.T

    Mr.T New Member

    Messages:
    2,553
    State:
    MO
    You guys seem pretty skeptical on a topic that you're completely uneducated about...

    The fuel tax refund is a Missouri Dept of Revenue program, has been around for years and takes very little effort on your partother than saving receipts.

    Everything you need to know is here:
    http://www.dor.mo.gov/tax/business/faq/fuel.htm
     
  7. cpalombo

    cpalombo New Member

    Messages:
    318
    State:
    Nashville TN
    I admit it, I was being skeptical. My apologies. I was wrong.

    Thanks Anger 2007 for the input. I will be looking into this and saving the reciepts. This is very good news.

    CP