Earlier this week, the U.S. Department of Agriculture (USDA) announced that it would be investing more than $300 million to help roughly 400 small businesses across the U.S. make energy efficiency and other improvements to their operations. Christianson helped seven of our clients get nearly $1.8 million of these funds for improvements at their facilities, and we can help you with your 2017 REAP application. USDA’s Rural Energy for America Program (REAP) allows rural small businesses to apply for grant funding and/or loan guarantees for the purchase, installation, and construction of energy efficiency improvements; or for renewable energy systems such as biomass, hydrogen, wind power, solar, and other alternative energies. Grants are Read More...
Ethanol and the Oil Spill Tax
Using natural gasoline as an ethanol denaturant may trigger liability for a quarterly excise tax to the IRS known as the Oil Spill Tax or the OSLT. If your ethanol plant is using natural gasoline as a denaturant, you may be required to pay a quarterly excise tax to the IRS on it. Known as the Oil Spill Liability Tax, the “OSLT” is a tax of $.08 per barrel ($.0019 per gallon) on crude oil under IRC §4611. This became $.09 per barrel in 2017 (or $.00214 per gallon). Natural gasoline is considered crude oil for the purposes of the tax. And oil refineries are generally responsible for paying this tax. However, there are a number of examples of the IRS pursuing collection of it from ethanol plants. This is based on an interpretation Read More...
Tax Tip Tuesday: The Individual Tax Filing Deadline
As part of our new Twitter launch, we are proud to bring you our first installment of Tax Tip Tuesday! Tax Tip Tuesday provides you with tax tips, news, and other knowledge designed to help you stay up to date with the latest developments in the tax world. Sarah Snyder, Christianson CPA Tax Department Supervisor, kicked off this first Tax Tip Tuesday with some information about the Individual Tax Filing Deadline. Follow us on Twitter (@ChristiansonCPA) and Facebook for all the latest Tax Tip Tuesday updates. #ChristiansonCPATaxTipTuesday Read More...
Follow @ChristiansonCPA on Twitter!
Christianson CPA has a Twitter account (@ChristiansonCPA)! John Christianson, primary partner at Christianson CPAs, was there at the launch of our Twitter account last week and recognized our Twitter presence as “the newest way to inform our clients.” He, along with everyone here at Christianson CPAs, is enthusiastic about getting on board with this exciting social media platform. Our Twitter handle is @ChristiansonCPA. Christianson’s foray into Twitter marks an addition to our already solid presence in social media. We all look forward to the opportunities mediums like these provide us to help new and existing clients, now and in the future. You can also find us on Facebook and LinkedIn. Read More...
BFC Speaker Highlight: Q&As with Steve Core
Q&A with Steve Core, board member for multiple ethanol plants Steve is featured in this year's Biofuels Financial Conference panel, Meaningful Reports for Financial Leaders. What is the more important decision(s) made by the board annually? What information do you utilize to make that (those) decisions? Communicate clearly with management about goals for the year with a time-line and naming who is responsible to complete the tasks. Boards need to have a board retreat each year to review the past year and set goals for next year and a one-to-five-year plan. What’s the critical difference for planning for long- versus short-term? For long term goals you need to be comfortable with the outlook for ethanol. If you are not, can you Read More...
Congressman Collin Peterson to Speak at Biofuels Financial Conference
This year’s Biofuels Financial Conference will include an appearance by Congressman Collin Peterson. Congressman Peterson represents Minnesota’s Seventh District and is a Ranking Member of the House of Representatives Committee on Agriculture. Congressman Peterson has been a staunch supporter of the biofuels and agriculture industries and an advocate for renewable fuels initiatives in the U.S. The Biofuels Financial Conference offers leaders, decision-makers, and financial experts in the biofuels industry the chance to learn about new and developing issues affecting renewable fuels. Congressman Peterson’s appearance at BFC reflects the continuing importance biofuels have for the U.S. To learn more about the Biofuels Financial Read More...
FSMA Enforcement: 3 Penalties for Non-Compliance
The Food Safety Modernization Act (FSMA) is like a tiger with shallow teeth but a long reach. There are a lot of ways to get stuck fighting with one, but few ways for him to kill you. Likewise there are a lot of ways to overlook something with your FSMA compliance strategy. However, the FDA has three primary mechanisms for enforcement when it comes to imposing direct penalties for non-compliance. Those are: 1. Hourly re-inspection fees (~$225/hour range) 2. Product recalls 3. Suspension of facility registration FSMA Background Animal food need not be shown to contain contaminants to be considered adulterated.It is adulterated simply if it was prepared, packed, or held under conditions whereby it may become contaminated. Is Read More...
C&A Hosting Overtime Rule Workshop September 15th
The Willmar Lakes Area Chamber of Commerce has looked to the experts at Christianson & Associates to communicate upcoming changes to federal overtime regulations to local businesses. The Department of Labor’s Overtime Final Rule goes into effect on December 1, 2016 and includes some major changes pertaining to local businesses. The threshold for all salaried employees has increased significantly and employers will need to review all salaried employees to make sure they are in compliance with the new regulations. To discuss the changes coming with the Overtime Final Rule and how these changes will affect local businesses, Christianson & Associates will be hosting a free workshop on September 15th from 7:30 to 9:00am at the Willmar Read More...
C&A to Host 12th Annual Biofuels Financial Conference
Christianson & Associates is hosting its 12th annual Biofuels Financial Conference October 17-18 at the Hyatt Regency Minneapolis, Minneapolis, Minnesota. With this conference, C&A continues our legacy of working with the biofuels industry to build and sustain financial growth. “We have had the opportunity to be part of the Ethanol and Biodiesel industries’ development for the past 20 years,” says John Christianson of Christianson & Associates. “Helping our clients and these industries succeed is our primary purpose. The Biofuels Financial Conference lets us help companies interact with each other, to address the critical financial issues facing the industry.” The two-day conference provides simultaneous ethanol and Read More...
C&A Hosts its Second LCFS Webinar
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...