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ANOTHER VIEW:Clean fuel tax credit and carbon capture set farms up to prosper. Iowa’s future isn't tied to SAF alone. ... Brian Frye is a sixth-generation Iowa farmer, a former crude oil broker ...
Amends the Internal Revenue Code to revise the income and excise tax credits for biodiesel used as fuel to: (1) allow a $1.00 tax credit for each gallon of biodiesel produced; (2) provide for an increased income tax credit for small biodiesel producers; (3) revise the definitions of "biodiesel" and "small biodiesel producer"; (4) treat ...
Iowa farmers' conservation practices to be a factor in renewable jet fuel tax creditsIowa farmers' conservation practices to be a factor in renewable jet fuel tax credits
Long-awaited guidance around tax credits for aviation fuel that reduces emissions of greenhouse gases compared with conventional fuel was issued Friday by the Treasury Department. Producers of ...
The first US state to tax fuel was Oregon, introduced on February 25, 1919. [4] It was a 1¢/gal tax. [5] In the following decade, all of the US states (48 at the time), along with the District of Columbia, introduced a gasoline tax. By 1939, many states levied an average fuel tax of 3.8¢/gal (1¢/L).
Section 15321 of the bill established a new tax credit for producers of cellulosic biofuels, that is, biofuels produced from wood, grasses, or the non-edible parts of plants. The new cellulosic biofuel producer credit is set at $1.01 per gallon and applies only to fuel produced and used as fuel in the United States.
Producers will be eligible for tax credits ranging from $1.25 to $1.75 per gallon, depending on how much their fuel reduces emissions compared with conventional products such as kerosene-based jet ...
The Renewable Fuels Association, a trade group for the ethanol industry, said the Treasury guidelines “begin to unlock the door for U.S. ethanol producers and farmers to participate in the ...