Ethanol Tax Credits
VOLUMETRIC ETHANOL EXICE TAX CREDIT
Administered by: Internal Revenue Service
Annual funding: N/A
Established: Calendar Year 2005 by §301 of the American Jobs Creation Act of 2004
Scheduled termination: End of 2010
Description: Gasoline suppliers who blend ethanol with gasoline are eligible for a tax credit of 51 cents per gallon of ethanol.
Qualified applicant: Blenders of gasohol
For more information: Additional information on IRS Publication 378: Fuel Tax Credits and Refunds may be found at http://www.irs.gov/publications/p378/index.html
SMALL ETHANOL PRODUCER CREDIT
Administered by: Internal Revenue Service
Annual funding: N/A
Established: Calendar Year 1990 by §11502 of the Omnibus Budget Reconciliation Act of 1990
Scheduled termination: End of 2007
Description: The small ethanol producer credit is valued at 10 cents per gallon of ethanol produced. The credit may be claimed on the first 15 million gallons of ethanol produced by a small producer in a given year.
Qualified applicant: Any ethanol producer with production capacity below 60 million gallons per year
For more information: Additional information on IRS Publication 378: Fuel Tax Credits and Refunds may be found at http://www.irs.gov/publications/p378/index.html