Topics: Biodiesel Tax Credit

NATSO, Nine Trade Associations Urge Multiyear Extension of Biodiesel Tax Credit

NATSO today joined nine trade associations in urging Congress to pass a multiyear extension of the biodiesel blenders' tax credit in a joint letter representing producers and marketers of renewable fuels. More

NATSO, Others Continue to Pursue Tax Extenders

Incoming Senate Finance Chairman Chuck Grassley (R-Iowa) told Politico that he has "very little interest in the Ways and Means Committee" for tax extenders, "except maybe for a couple," which could include the biodiesel tax credit. More

NATSO, Others Urge Congress to Renew Tax Extenders

NATSO joined nearly 60 organizations representing a variety of business, energy, transportation, and agriculture stakeholders in urging Congress to renew expired tax incentives through the end of 2019 before the 115th Congress adjourns. More

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. More

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. More

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. More

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. More

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. More

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. More

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. More

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