Topics: Biodiesel Tax Credit

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. More

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. More

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. More

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. More

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. More

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in recent weeks to include in unrelated Federal Aviation Administration (FAA) legislation a provision that would have repealed the $1.00/gallon biodiesel blenders' tax credit and replaced it with a producers' credit.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. More

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. More

IRS Explains Procedures for 2015 Biodiesel 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 2015. More

2016 Market Preview: Biodiesel and Ethanol

What to expect with regard to the biodiesel tax credit and ethanol production in 2016. More

Congress Passes Tax Extenders Legislation, Including Biodiesel Blenders Credit

Congress passed a tax extenders package that contains a clean, two-year extension of the biodiesel blenders credit (retroactive to Jan. 1, 2015). This is a significant victory for NATSO and the fuel marketing community. After months of intense advocacy efforts opposing a shift from a blender credit to a producer credit, Congress ultimately agreed with NATSO that a blenders credit is better for consumers and the best way to encourage domestic consumption of biodiesel. More

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