Nebraska Begins Accepting Applications for Ethanol Tax Credit
by Erin Voegele (Ethanol Producer Magazine) The Nebraska Department of Revenue on Aug. 1 began accepting applications from fuel retailers to claim a recently established sales tax for higher blends of ethanol. Nebraska Gov. Pete Ricketts signed a bill establishing the credit earlier this year.
Fuel retailers within the state can now claim a tax credit of 5 cents per gallon for each gallon of E15 sold and 8 cents per gallon for each gallon of E25 or higher blends sold.
“Utilizing ethanol should be a centerpiece of our national strategy to lower gas prices,” Ricketts said. “Ethanol saves drivers money at the pump, is better for the environment, and creates opportunities for farm families here in Nebraska. As a state, we’re doing our part to grow U.S. energy production by encouraging sales of renewable fuel.”
According to the Nebraska government, there are currently 124 fueling stations within the state that offer E85 and 112 fueling stations that offer E15.
The Nebraska Ethanol Board is applauding implementation of the credit. “At the retail level, very simply put, E15 is better fuel and it costs less,” said Randy Gard, chief operating officer of Bosselman Enterprises and secretary of the Nebraska Ethanol Board. “We are excited about the passage of LB1261e and what it can do for our customers. If you are a retailer, there is now nothing standing in your way today to make the transition from E10, the standard fuel most people use today, to joining this mass conversion to E15. There are incentives with LB1261e, there’s consumer demand, there are certainly price pressures, and increased availability at the terminals. This is a win for everybody…retailers, legislators, farmers and ranchers, and especially users of ethanol who support Nebraska’s economy, help the environment, and save money every time they fill up.”
…
Additional information on the new tax credit is available on the Nebraska government website. READ MORE
NEBRASKA ETHANOL RETAILERS CAN APPLY FOR TAX CREDITS HELPING BOOST DEMAND FOR CORN (Brownfield Ag News)
