Get State Of Oklahoma Credit For Investment In Clean-burning Motor Vehicle Fuel Property Name As Shown

This guide provides a clear and supportive overview for users filling out the State Of Oklahoma Credit For Investment In Clean-Burning Motor Vehicle Fuel Property form. It breaks down each section and field to ensure you can successfully complete the form online with ease.

Follow the steps to complete the form successfully.

1. Click the ‘Get Form’ button to obtain the form and open it for editing.
2. In the section labeled 'Name as Shown on Return', enter your name exactly as it appears on your tax return.
3. Provide your Social Security Number or Federal Employer Identification Number to identify your tax status.
4. Indicate the type of qualified clean-burning fuel property for which you are claiming a credit by selecting one of the following: Compressed Natural Gas, Liquefied Natural Gas, or Liquefied Petroleum Gas.
5. Use Part 1 of the form to compute the credit for the purchase or conversion of a qualified motor vehicle. Enter the make, model, Vehicle Identification Number (VIN), and tag number of the vehicle.
6. Date the vehicle was placed in service must be filled out accurately.
7. In Section A, enter the cost of the qualified clean-burning motor vehicle fuel property and multiply this by the 50% rate to determine your credit.
8. If applicable, complete Section B if your vehicle was purchased with qualified clean-burning motor vehicle fuel property installed by the manufacturer.
9. Part 2 is for credit related to property delivering qualified fuel or for electrified vehicles. Enter the cost of the property and calculate the 75% credit.
10. Part 3 addresses credits for a natural gas refueling station at a private residence. Enter the cost of the property, simply multiply by the 50% rate, and check the $2,500 limitation.
11. Finally, compile the total credits from Parts 1, 2, and 3 in Part 4. Add all credits together and prepare to enter this total on Form 511CR.
12. Once all fields are filled out, save your changes, and choose to download, print, or share the completed form as needed.

Begin your documentation process online today to ensure your investment in clean-burning motor vehicle fuel property is properly credited.