What Renewable Fuel Producers Need to Know On November 8, 2024, the California Air Resources Board (CARB) approved significant amendments to the state’s Low Carbon Fuel Standard (LCFS). These changes introduce new compliance requirements and opportunities, significantly impacting renewable fuel producers operating in California’s low-carbon fuel market. Below, we break down the key amendments and… Continue Reading
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Ask the Experts: the Pre-Election Tax Landscape
Current State of Federal Tax Provisions Several key federal tax provisions, initially introduced by the Tax Cuts and Jobs Act (TCJA), are set to expire on December 31, 2025, unless Congress enacts new legislation. If these provisions sunset as scheduled, several significant changes will impact taxpayers. The standard deduction will be reduced by half, and… Continue Reading
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Understanding Declaration Requirements for U.S. Feedstocks under Canada’s Clean Fuel Regulations
As of July 2023, Canada’s Clean Fuel Regulations (CFR) are in effect, aiming to reduce greenhouse gas (GHG) emissions from transportation fuels. Administered by Environment and Climate Change Canada (ECCC), the CFR mandates stringent requirements for cleaner fuel production and emphasizes compliance and transparency throughout the supply chain. Fuel producers, importers, and suppliers are required… Continue Reading
Status of State Clean Fuel Program Amendments
State low carbon fuel programs are currently in place in California, Oregon, and Washington, each in various stages of development and undergoing significant rulemaking amendments. These amendments have direct implications for biofuel producers, especially with new sustainability requirements and changes in carbon intensity (CI) targets. Detailed below are some of the key changes to each… Continue Reading
How Renewable Fuel Producers Can Claim Tax Credits for §45Z
To be eligible to claim the §45Z credit for production starting January 1, 2025, a taxpayer must have a signed IRS letter for Approval of Excise Tax Registration dated on or before January 1, 2025. There are two categories of activities for registration – business activities that require registration and activities that may require registration… Continue Reading
