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Are there tax credits available for biodiesel?

biodiesel tax credits
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Are there tax credits available for biodiesel?

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A. Yes. A tax credit is available to petroleum suppliers who blend biodiesel into their petroleum products. It amounts to $1.00/gal off the company’s excise tax liability if the biodiesel is made from virgin oils or $0.50/gal off if made from recycled oils.

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A. Yes. A tax credit is available to petroleum suppliers who blend biodiesel into their petroleum products. It amounts to $1.00/gal off the company’s excise tax liability.

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