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Extension of Tax Credits for Biodiesel and Renewable Diesel – 26 U.S. Code § 40A, 26 U.S. Code § 6426(c), 26 U.S. Code § 6427€
- Tax Credit
IRA Statuatory Location:
13201
Tax Code Location:
26 U.S. Code § 40A, 26 U.S. Code § 6426(c), 26 U.S. Code § 6427
New or Modified Provision:
Extended from 12/31/2022 through 12/31/2024.
Eligible Recipients:
Clean fuel producers
Tribal Eligibility:
No
Bureau/Office
Funded by:
U.S. Department of Treasury
Description
To provide tax credits for biodiesel and renewable diesel. Producers of biodiesel, biodiesel mixtures, and renewable diesel.
Direct Pay Eligibility:
No
Transferability:
No
Stackability:
No rules
Energy Community Bonus:
No
Relevant Announcements
N/A
Related Resources
Additional information is available on the Resources page.Key Details
Period of Availability
Through 12/31/24
Tax Mechanism:
Income tax credit and excise tax credit
Base Credit Amount:
$1.00 per gallon for biodiesel, biodiesel mixtures, and renewable diesel.Additional $0.10 credit for small agri-diesel producers. In addition, there is a $1.00-per-gallonexcise tax credit for biodiesel and renewable diesel mixtures.
Bonus Credit Amount:
N/A