Three ethanol tax credits extended for 2013

The American Taxpayer Relief Act of 2012, that was approved by both the Senate and House included extension of three key ethanol related tax credits, Bob Dinneen, president and CEO of the Renewable Fuels Association, said.

“The one year extension of the cellulosic producer tax credit and accelerated depreciation provides some measure of certainty to ensure that 2013 will be a year of growth and milestones for the advanced ethanol industry.

“In addition, and equally significant, is the extension of the alternative fuel infrastructure tax credit which will accelerate E15’s entry into the marketplace this coming year. The extension of these important provisions demonstrates the Obama Administration’s stalwart support of biofuels and Congress’s belief in the promise of energy independence and job creation through domestic renewable energy resources,” claims Dinneen.

source: agprofessional