Biodiesel Information Details

2021 Biodiesel Information


Jurisdiction:

Nebraska
Year of Report:
2021
1) Jurisdiction provides either a refund or an exemption, impose a tax rate different than diesel, or offer an incentive (i.e. producers' or income tax credit):
Yes
2) Jurisdiction offers a refund for tax paid on biodiesel for IFTA carriers:
Effective date of the legislation:
Brief description of the legislation:
3) Jurisdiction offers a biodiesel tax exemption for IFTA carriers:
Effective date of the legislation:
Brief description of the legislation:
4) Jurisdiction imposes a tax on biodiesel at a rate different than the tax imposed on diesel:
No
Effective date of the biodiesel tax rate:
5) Instructions for the IFTA licensees based in your jurisdiction to report biodiesel use on the IFTA return. :
6) Biodiesel incentive such as a producer's credit or an income tax credit:
Effective date of the legislation:
2007, LB343, ? 2.
Type of biodiesel incentive is offered:
Nebraska allows a nonrefundable income tax credit to taxpayers who make an investment after Jan 1, 2008, and prior to Jan 1, 2015, in a biodiesel facility. See the following for more details: Biodiesel Production Investment Tax Credit: Investors in Nebraska biodiesel production facilities are eligible to receive an income tax credit of up to 30% of the amount invested in the facility, not to exceed $250,000 of credit per taxpayer. The credit is only available for facilities that produce B100, perform all processing in Nebraska, and are at least 51% owned by Nebraska individuals or entities. The tax credit may be reclaimed if the biodiesel production facility remains in operation for less than three years. (Reference Neb. Rev. Stat. 77-27,236).