Biodiesel Information Details

2012 Biodiesel Information


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Jurisdiction:

New York
Year of Report:
2012
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:
09/01/2006
Brief description of the legislation:
"B20" is partially exempt (20%). Taxed at 80% of the diesel motor fuel tax rate when purchased.
3) Jurisdiction offers a biodiesel tax exemption for IFTA carriers:
Yes
Effective date of the legislation:
09/01/2006
Brief description of the legislation:
"B20" is partially exempt (20%). Taxed at 80% of the diesel motor fuel tax rate when purchased.
4) Jurisdiction imposes a tax on biodiesel at a rate different than the tax imposed on diesel:
Yes
Effective date of the biodiesel tax rate:
09/01/2006
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:
09/01/2006
Type of biodiesel incentive is offered:
For tax years beginning in 2006 through 2011, a New York State personal income tax credit and Article 9-A corporation franchise tax credit is allowed for bioheat that is used for space heating or hot water production for residential purposes within New York State. The credit applies to bioheat purchased on or after July 1, 2006, and before July 1, 2007, and on or after January 1, 2008, and before January 1, 2012. (There is no credit available for bioheat purchased on or after July 1, 2007, and before January 1, 2008.) The credit amount equals $0.01 (one cent) per gallon for each percent of biodiesel included in the bioheat, not to exceed $0.20 (twenty cents) per gallon, purchased by the taxpayer on or after July 1, 2006, and before July 1, 2007, and on or after January 1, 2008, but before January 1, 2012. The bioheat must be used for space heating or hot water production for residential purposes within New York State.
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