Fuel Excise Tax Recovery and the Tourism and Recreation Industry – What You Should Know

May 17, 2020 0 Comments

After more than two decades of helping clients recover years of fuel excise tax refunds, we have worked with businesses of all sizes and across all industries, including tourism and recreation industries.

Fuel excise tax recovery may be a very specific and niche area of tax law. But the companies impacted can affect vary widely. Also, the range is from trucking companies to contractors and landscapers.

But there’s often one industry owners often overlook when it comes to fuel excise tax refunds, and that is the tourism industry.

Many companies that deal with tourism-related activities, excursions, accommodations, or other areas of travel are leaving money on the table when it comes to fuel excise tax recovery, simply because they are unaware that they qualify for these specialized refunds.

Regardless of whether you own a worldly resort, or simply maintain a golf course or other local attraction, you may be an exceptional candidate for fuel excise tax recovery.

So if this sounds like your business and area of expertise, then read on to uncover if you qualify and what you need to know to move forward.

What Types of Tourism Businesses Could Potentially Qualify for a Fuel Excise Tax Refund?

The easiest way to find out if you may qualify as a candidate for fuel excise tax recovery is to contact the TiP team. We’re experts at this niche area of federal tax laws.

And, we will do all the hard work and the heavy lifting to determine if your business is a suitable candidate for obtaining a potentially hefty refund.

With that being said, however, there are a few tourism-related businesses that should especially be attuned to their potential to receive a substantial fuel excise tax refund.

These types of businesses include the below. Just note this list is simply a sample. And if you use fuel for any type of non-highway equipment, you likely qualify as a candidate for fuel tax recovery as well.

Recreational Fishing Charters

Recreational fishing charters take travelers out to the open waters in search of unforgettable catches that require fuel to make daily treks. As such, folks who work in this industry are potentially great candidates for fuel excise tax refunds.

Off-road Adventure Companies

Do you use ATVs, 4x4s, or other recreational and off-road equipment to take visitors out on new and off-the-grid adventures?

Then chances are you deserve a fuel excise tax refund. Any type of equipment that burns gasoline or diesel fuel may qualify. This certainly comes into play for adventure-oriented companies.

Amusement Parks, Go-Kart or Racing Tracks, or Other Attractions/Destinations

Perhaps you use heavy-duty equipment to keep your recreational equipment functioning. Or maybe you operate a racing track where you use fuel to allow guests to enjoy a high-speed adventure.

If this sounds like your business, then it’s time to explore your options. Amusement parks and other attractions tend to use fuel in a myriad of ways – from landscaping to park rides. So it’s definitely worth a closer examination to see if you have money on the table.

Golf Courses

Golf course managers and owners are another segment of the population that can benefit significantly from contacting the TiP team.

This industry uses fuel regularly and in several different ways.

  • From the golf carts that shuttle golfers from one hole to the next
  • To the landscaping equipment used to keep your grounds clean and well-manicured

Golf course owners can typically expect a hefty return when it comes to fuel excise tax refunds.

Resorts, Hotels, and Accommodations That Rely on Landscaping

If you own a resort, hotel, motel, or even a campground, then chances are costs dedicated to regular upkeep is a chunk of your maintenance costs.

After all, the overall appearance of your resort or accommodations is crucial to attract visitors and to ensure they have a pleasant time. This type of business requires heavy-duty equipment to keep your property looking at its best.

As such, if you spend any of your budget on landscaping, then you should schedule a consultation with TiP.

All-Inclusive Travel Companies, and Other Adventure Providers

Maybe you require refrigerated trucks to keep your guests fed and happy during an all-inclusive adventure, or perhaps you rely on fuel to shuttle guests from one destination to the next on off-the-beaten-path adventures.

Simply put, regardless of how your company operates in the tourism industry, there’s no risk in exploring your options and seeing if you have money the government owes you.

Work in the Tourism Industry?

Maybe you have all of your receipts from any time you have made a gasoline or diesel purchase, and you’ve kept detailed track of how fuel is integrated into your day-to-day operations.

Or perhaps fuel use is simply an area of your business that you’ve never focused on, and you’re not even sure if you qualify for a fuel excise tax refund.

Regardless of your specific situation, your best next step remains the same – seek out the assistance of an expert.

We Can Help

Many accountants overlook fuel excise tax refunds, because this portion of tax law is so complicated and ever-changing. But at TiP, we are constantly focused on:

  • New advantages
  • Law changes
  • Opportunities to maximize your refund

And we are adept at determining if your business qualifies. Your road to returning money to your pocket starts with contacting our tax experts at TiP.

From charter fishermen to large-scale resorts, we’ll help you find years of owed refunds to ensure you can continue your business and remain as profitable as possible.

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Fuel Excise Tax Recovery and the Tourism and Recreation Industry – What You Should Know
Are you in the tourism and recreation industry? You may be leaving money on the table when it comes to fuel excise tax refunds! Read on to determine if it’s time to explore your options.