Biodiesel Tax Credit

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NATSO, Biodiesel Supply Chain United in Support of Biodiesel Blender’s Tax Credit

June 26, 2018

NATSO, Biodiesel Supply Chain United in Support of Biodiesel Blender’s Tax Credit

NATSO on June 25 along with all major associations representing the biodiesel supply chain united in urging House and Senate Leaders and the two key tax writing committees to extend the $1 per gallon biodiesel blender’s tax credit as well as to seek a permanent tax incentive that will help foster growth in the domestic biodiesel market.

NATSO Testifies Before Congress on Biodiesel Policy

June 25, 2018

NATSO Testifies Before Congress on Biodiesel Policy

Robin Puthusseril, Vice President and Co-Owner of the Greater Chicago I-55 Truck Plaza in Bolingbrook, Ill., testified June 22.

IRS Explains Procedures for Claiming Retroactive 2017 Biodiesel Blender Tax Credits

March 7, 2018

IRS Explains Procedures for Claiming Retroactive 2017 Biodiesel Blender Tax Credits

The Internal Revenue Service (IRS) has released a guidance document outlining special one-time claim procedures for obtaining the $1.00 per gallon biodiesel blender tax credit for 2017. Notice 2018-21 prescribes rules for how taxpayers can claim one-time credits for selling or using biodiesel, renewable diesel, and other alternative fuels (such as natural gas) in 2017. The notice also outlines how entities can offset liability for federal gasoline and/or diesel taxes with the 2017 credits, and further provides instructions for how taxpayers can make certain income tax claims on biodiesel and alternative fuels.

Congress Passes Retroactive Biodiesel Tax Credit for 2017 as Part of Larger Budget Package

February 9, 2018

Congress Passes Retroactive Biodiesel Tax Credit for 2017 as Part of Larger Budget Package

Congress yesterday passed and President Trump signed legislation providing for a retroactive biodiesel blenders' tax credit for 2017, leaving the credit's status in 2018 and beyond uncertain. The measure was included as part of a larger budget package that will keep the federal government funded for the foreseeable future.

NATSO, Others Urge Congress to Approve Multi-Year Extension of Tax Extenders

December 20, 2017

NATSO, Others Urge Congress to Approve Multi-Year Extension of Tax Extenders

NATSO joined nearly 60 organizations representing a variety of business, energy, transportation, and agriculture stakeholders in urging Congress to approve a seamless, multi-year extension of the tax extenders before the end of 2017.

NATSO, Biodiesel Supply Chain Unified in Support of Extending Biodiesel Tax Credit

December 19, 2017

NATSO, Biodiesel Supply Chain Unified in Support of Extending Biodiesel Tax Credit

NATSO on Dec. 18 along with all major associations representing the biodiesel supply chain signed a letter urging leaders of the House Committee on Ways and Means and the Senate Finance Committee to include a retroactive, multi-year extension of the biodiesel tax incentive in end of year legislation.

New England, New York Energy Groups Urge Lawmakers to Extend, Phase Out Biodiesel Blenders' Tax Credit

November 28, 2017

New England, New York Energy Groups Urge Lawmakers to Extend, Phase Out Biodiesel Blenders' Tax Credit

The New England Fuel Institute (NEFI) and the New York State Energy Coalition (NYSEC) marked the latest organizations to urge lawmakers to retroactively extend the biodiesel blenders’ tax credit and phase it out over five years. In a letter to the Senate Finance Committee, NEFI and NYSEC said that proposals to shift the biodiesel tax credit to a producers’ credit would have an immediate and adverse effect on biodiesel supplies in the Northeast, including supply disruptions and an increase in consumer prices for biodiesel blended heating oil in New England and New York.

NACS Joins SIGMA in Telling Senate Finance It Prefers No Biodiesel Tax Credit to Producers’ Credit

November 15, 2017

NACS Joins SIGMA in Telling Senate Finance It Prefers No Biodiesel Tax Credit to Producers’ Credit

The National Association of Convenience Stores (NACS) marked the second association in as many days to publicly express that although it supports the biodiesel blender’s tax credit it would prefer no credit rather than have it converted to a producer’s credit.

SIGMA Supports Biodiesel Blenders' Tax Credit; Prefers No Credit to Producers' Credit

November 15, 2017

SIGMA Supports Biodiesel Blenders' Tax Credit; Prefers No Credit to Producers' Credit

The Society of Independent Gasoline Marketers of America on Nov. 14 told members of the Senate Finance Committee that although it supports the biodiesel blender’s tax credit, the association would prefer no credit rather than have it converted to a producer’s credit.

NATSO, Biodiesel Supply Chain Urge Tax-Writing Committees to Extend, Phase Out Biodiesel Tax Credit

October 31, 2017

NATSO, Biodiesel Supply Chain Urge Tax-Writing Committees to Extend, Phase Out Biodiesel Tax Credit

NATSO and a diverse group of biodiesel producers, fuel retailers and trucking interests representing every segment of the biodiesel supply chain sent a letter the Senate Finance Committee and House Ways and Means Committee on Oct. 31 in support of extending and phasing out the biodiesel blenders’ tax credit, and outlining their opposition to efforts to shift the credit to a producers’ credit as the tax-writing committees consider tax reform legislation.

Bipartisan Legislation Introduced to Extend, Phaseout Biodiesel Tax Credit

July 18, 2017

Bipartisan Legislation Introduced to Extend, Phaseout Biodiesel Tax Credit

Representatives Diane Black (R-Tenn) and Ron Kind (D-Wisc.) late yesterday introduced bipartisan legislation titled the Biodiesel, Renewable Diesel, and Alternative Fuels Extension Act of 2017 (H.R. 3264) that would extend the biodiesel blenders’ tax credit and ultimately phase it out over five years.

Biodiesel Tax Credit Set to Lapse

December 19, 2016

Biodiesel Tax Credit Set to Lapse

With Members of Congress back in their districts for the remainder of the year, it is clear that the biodiesel tax credit will not be extended before Jan. 1. Although on prior occasions after it has lapsed it has been extended retroactively the following year, it is not certain that this will occur next year. Given that many NATSO members have historically utilized the biodiesel tax credit to integrate the product into their diesel supply and offer competitive fuel prices, NATSO offers a few points to keep in mind as you plan for 2017.

NATSO Commends Rep. Black for Introducing Legislation to Extend Biodiesel Blender’s Tax Credit

September 16, 2016

NATSO Commends Rep. Black for Introducing Legislation to Extend Biodiesel Blender’s Tax Credit

NATSO on Sept. 16 applauded Rep. Diane Black (R-Tenn.) for introducing legislation that would extend the biodiesel blenders’ tax credit for two years through 2018.

Legislation Introduced to Extend Biodiesel Blenders' Tax Credit

September 14, 2016

Legislation Introduced to Extend Biodiesel Blenders' Tax Credit

On Sept. 13, Rep. Diane Black (R-Tenn.) introduced H.R. 5994, legislation that would extend for two years through 2018 the biodiesel blenders' tax credit. NATSO has worked closely with Rep. Black's office on this legislation, and has expressed its support for the bill.

Aug. 8 Deadline for 2015 Biodiesel Blender Credit

July 31, 2016

Aug. 8 Deadline for 2015 Biodiesel Blender Credit

Fuel retailers have until Aug. 8 to file claims for the $1.00 per gallon biodiesel blender credit for blends created in 2015. The Internal Revenue Service (IRS) will not accept claims for 2015 retroactive biodiesel blender credits filed after this date.

Legislation Introduced to Move Biodiesel Blenders Credit to Producer Level

July 18, 2016

Legislation Introduced to Move Biodiesel Blenders Credit to Producer Level

On July 13th Senators Chuck Grassley (R-IA) and Maria Cantwell (D-WA) introduced legislation that would repeal the biodiesel blenders' tax credit and replace it with a producers' credit beginning in 2017, keeping the credit in place for three years through 2019. The credit would only be available to domestically produced biodiesel.

SenateTax-Writing Committee Considers Energy Tax Policy; No Discussion of Biodiesel

June 16, 2016

SenateTax-Writing Committee Considers Energy Tax Policy; No Discussion of Biodiesel

The Senate Finance Committee on May 14 held a hearing on energy tax policy, the first committee hearing on this topic in the current Congress. The truckstop and travel plaza industry's primary interests in this space at the present time are the $1.00/gallon biodiesel blenders' tax credit, as well as the $0.50/gallon alternative fuel tax credit and alternative fuel mixture tax credit (applicable to sales of LNG and CNG, among other fuels). These provisions, which are scheduled to expire at the end of 2016, were not discussed at the hearing.

NATSO Advocates for Biodiesel Blender Tax Credit

June 13, 2016

NATSO Advocates for Biodiesel Blender Tax Credit

NATSO and a group of coalition partners representing the entire biodiesel supply chain, including consumers, sent a letter to members of the Senate Finance Committee on June 13 reiterating support for the biodiesel blenders tax credit. The letter was sent one day before the Committee is scheduled to hold a hearing on energy tax issues.

Effort to Change Biodiesel Tax Credit Fails Again

April 15, 2016

Effort to Change Biodiesel Tax Credit Fails Again

Certain biodiesel producer interests tried in recent weeks to include in unrelated Federal Aviation Administration (FAA) legislation a provision that would have repealed the $1.00/gallon biodiesel blenders' tax credit and replaced it with a producers' credit. Thanks to strong pushback from NATSO and other interested parties, that effort has failed, and the provision has not been included in that legislation.

IRS Issues Forms for Biodiesel Tax Credit Claims

March 7, 2016

IRS Issues Forms for Biodiesel Tax Credit Claims

The Internal Revenue Service (IRS) has released forms that biodiesel blenders can use to file claims for the $1.00/gallon biodiesel blender credit. One form is for retroactive 2015 claims, and the other is for 2016 claims. Claims for biodiesel blends created in 2016 must be filed separately from retroactive clems for belnds created in 2015.

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