A tax credit of 20 cents per gallon (cpg) is offered to producers of ethanol for production that begins after December 31, 2003 but no later than December 31, 2006. The ethanol facility must be producing at the rate of at least 25% of its name plate design capacity for the production of ethanol on or before December 31, 2006 and for six months after the first month it is eligible for the tax credit. Tax credits are available for up to 25 million gallons per year (mgy) per facility for up to 5 years. Producers may not claim credits after December 31, 2010. Beginning January 1, 2011, ethanol facilities can receive a credit of 7.5 cpg for new production for up to 10 mgy for up to 3 years. New production includes new facilities, facilities not receiving credits before January 1, 2011, or expansion of capacity of existing facility by at least 2 million gallons.
|Incentive Type:||Corporate Tax Credit|
|Administrator:||Projects Plus, LLC|
|Eligible Renewable/Other Technologies:||
|Incentive Amount:||20 cents per gallon|
|Maximum Incentive:||Credit is available for up to 25 million gallons/yr. per facility for 5 years|
|Carryover Provisions:||Production facility must be completed by 12/31/06|
|Name:||SB 429 (2003)|
|Organization:||Projects Plus, LLC|
8527 S. 68th E. Ave
Tulsa OK 74133-4147
|Organization:||Oklahoma Farmer's Union|
6200 N.W. 2nd, P.O. Box 24000
Oklahoma City OK 73127
|Name:||Information Specialist - OTC|
|Organization:||Oklahoma Tax Commission|
Post Office Box 26800
Oklahoma City OK 73126-0800
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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