Christianson & Associates hosted its second in a series of webinars discussing the upcoming changes to California’s Low Carbon Fuel Standard (LCFS). This webinar, held August 3rd, discusses the most recent LCFS changes presented by the California Air Resources Board (CARB) during their July 29th workshop. Since early in 2016, CARB has been working on updating the LCFS program. Developments include new pathway and carbon intensity modelling, regulatory changes, and a requirement for third-party verification of Fuel Pathway compliance and LCFS credits transactions. To present these changes, CARB has held a series of workshops at intervals throughout 2016 outlining the proposed changes and has allowed stakeholders the opportunity to Read More...
Tax Newsletter 8/1/2016
About Your IRS Notice or Letter The IRS normally sends correspondence in the mail and they mail millions of letters to taxpayers every year. This is a follow up to last week’s newsletter with some points to keep in mind if you, or your client, get a letter or notice. Don’t ignore it. Most notices can be responded to quickly and easily. Follow instructions. Read the notice carefully. It will tell you if you need to take any action. Follow the instructions. The letter will have contact information if you have questions. Focus on the issue. IRS notices usually deal with a specific issue about the tax return or tax account. The notice or letter will explain the reason for the contact and give instructions on how to handle the Read More...
5 Signs Your cGMPs are Ready for FSMA
The Food Safety Modernization Act (FSMA) covers the operation of a facility that manufactures, processes, packs, or holds animal food for sale in the United States. Renewable fuels facilities producing feed co-products are no exception. In fact, if you are a biofuels producer that sells co-products later used as an ingredient in animal feed (ex. distillers grains, corn oil, glycerin), FSMA is a multi-faceted regulatory program with which you will soon become quite familiar. Phase 1 Requirements The first phase of FSMA compliance requires implementation of “Current Good Manufacturing Processes” listed in Subpart B of the Code of Federal Regulations (21 CFR 507). cGMPs help establish the basic environmental and operating conditions Read More...
MN Minimum Wage Increase 2016
Effective August 1, 2016, the minimum wage in Minnesota will increase. The increase will impact all businesses, including agri-businesses. Hourly Rate Overview Below is a brief overview of the new minimum wage rates for hours worked beginning August 1, 2016. LARGE EMPLOYER Any enterprise with an annual gross dollar volume of sales made or business done of $500,000 or more $9.50 SMALL EMPLOYER Any enterprise with an annual gross dollar volume of sales made or business done of less than $500,000 $7.75 TRAINING RATE May be paid to employees younger than 20 years of age for the first 90 consecutive days of employment $7.75 YOUTH RATE Paid to employees younger than 18 years of age who are not covered under Read More...
Ask the Experts – Presidential Tax Policies
Tax Policy Highlights of the 2016 Presidential Candidates As featured on KWLM 1340 Newstalk with Todd Bergeth, Joel Gratz and Bradley Pederson from Christianson & Associates discuss the tax policies of the 2016 presidential candidates and their impact on you. You can also listen to our latest radio ad focusing on how our certified public accountants assist ag producers with farm equity preservation, cash flow management, and debt coverage analysis. Read More...
Come visit us at FEW 2016
Christianson & Associates is featured at the Fuel Ethanol Workshop in Milwaukee, Wisconsin. Come see our experts present at the 2016 FEW and visit our booth, #1134. Track 2: Leadership and Financial Management Didn’t See that Coming: Best Practices for Being Ready for Unforeseen Weather Events, Inspections, Legal Events and other Uncommon Occurrences Phil Cleary, Technical Research Consultant, Christianson & Associates PLLP Ethanol and the Oil Spill Tax Download Presentation: Ethanol and the Oil Spill Tax (OSLT) Track 2: Leadership and Financial Management It’s the Margin that Matters: Positioning Your Plant for the Best Possible Financial Results John Christianson, Principal Partner, Read More...
Documentation, Preparation For The FSMA Ride
Buckle up for FSMA The threat of getting a ticket isn’t the only reason I take my safety seriously; I wore a seatbelt long before the advent of primary seatbelt laws. That’s why I often feel frustrated with the proliferation of laws designed to protect me from myself, like “Click it or Ticket.” Likewise, I’m certain you have been taking the safety of your ethanol plant’s distillers’ grains seriously long before Congress started talking about the Food Safety Modernization Act (FSMA). Your commitment to produce safe and nutritious animal feed products, regardless of what the government prescribes as a consequence for doing otherwise, is part of why your ethanol plant is still in the business of selling them. Despite that reality, Read More...
ACA Tax Update
Affordable Care Act (ACA) Tax Update There was a change to the due dates of the 2015 ACA reporting requirements for Forms 1095/1094‐C and 1095/1094‐B. The furnishing of the 1095’s to the individual employees has been extended from 2/1/16 to 3/31/16. The filing of the 1094’s and 1095’s with the IRS has been extended from: 2/29/16 to 5/31/16, if not filing electronically, and 3/31/16 to 6/30/16 if filing electronically. For individuals to complete their tax return without these documents, for 2015 only, they can rely upon other information received from employers about their offers of coverage for purposes of determining eligibility for the premium tax credit as well as to confirm they had minimum Read More...
2015 Biodiesel and Alternative Fuel Claims
The IRS recently issued Notice 2016-05 which provides rules claimants must follow to make a one-time claim for payment of the credits and payments allowable under Sec. 6426(c), 6426(d), and 6427(e) of the Internal Revenue Code for biodiesel mixtures and alternative fuels sold or used during calendar year 2015. The notice also provided instructions for how a claimant may offset its Sec. 4081 liability with the Sec. 6426(e) alternative fuel mixture credit for 2015, and provides instructions for how a claimant may make certain income tax claims for biodiesel, second generation biofuel, and alternative fuel. Claimants that filed “protective” or anticipatory claims during 2015 for biodiesel and alternative fuel incentives should refile Read More...
Ethanol Co-Product Trends for 2015
Data gathered from a wide variety of plants across the US through our Biofuels Benchmarking program allows us to explore the impact of ethanol co-product trends. It reveals that a steady chunk of ethanol plant revenue is derived from a diversifying mix of co-products. In fact, focusing on achieving the right mix of co-product can ultimately result in higher (and more consistent) earnings on each bushel of feedstock purchased. Corn recapture percentages (a measure of co-product revenue dollars per dollar of feedstock cost) reached all-time highs during 2013, and have maintained a steady or increasing percentage for the past four years. Information about ethanol co-product trends helps answer a number of vital questions for anyone Read More...
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