Is Marine Fuel Tax Deductible in Missouri?
Residents of 12 states, including Missouri, can deduct all state fuel taxes if they use the fuel to fill up their boat, according to American Boating. Since the Missouri fuel tax funds the repair of roads and boats do not impact the roadways, residents can receive 17 cents back per gallon of gasoline or diesel purchased as of June 2011. To claim a marine fuel tax refund, Missouri residents must file the appropriate forms with the Missouri Department of Revenue and document their claims.
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Limits
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The state of Missouri sets no limit on the amount of fuel tax for which the taxpayer can receive a refund. Any resident, regardless of whether he uses a marine vehicle for business purposes or not, qualifies for a deduction from the Missouri Department of Revenue (DOR). Residents can apply for a marine fuel tax deduction as often as they please. While residents cannot file applications online, they can download forms or request that they be sent by fax or mail.
Records
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Since the state recognizes the potential for fraudulent tax refunds, boaters in Missouri must document fuel purchases to receive a fuel tax refund. For gas station purchases, sales slips suffice as proof. Invoices must contain the names of the buyer and seller, the number of gallons purchased, the amount paid per gallon, sales tax paid and Missouri fuel tax paid, according to the Missouri DOR.
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Registration
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Missouri residents must complete Form 4924 to notify the Missouri DOR of the boats for which they intend to claim a tax deduction. They only need to file Form 4924 once every two years unless their personal information changes. Residents cannot claim a marine fuel tax refund until they have filled out this form and received approval from the DOR. Residents can submit their registration and a claim form at the same time.
Filing
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Residents must file Form 4923 with the Missouri DOR at least annually to claim fuel taxes paid. If they fail to file Form 4923 within a year of the fuel purchase date, the Missouri Department of Revenue will deny the refund. Missouri residents must also include Form 4925 with their Form 4923 so that the state knows in which counties the gasoline was purchased in, so that counties are not shortchanged.
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