Ethanol Production Tax Credit

An ethanol facility is eligible for a credit of $0.075 per gallon of ethanol, before denaturing, for new production for up to 36 consecutive months. To be eligible for this credit, the facility must not have received credits before January 1, 2013, must have expanded its capacity by at least two million gallons after January 1, 2013, or must have achieved annual production of more than twelve times the monthly average of the three highest production months in the previous year. The credit will be capped at ten million gallons of ethanol per year per ethanol facility and 30 million gallons of ethanol per year at all ethanol facilities in the state. Additional restrictions may apply. This incentive is available through December 31, 2013. (Reference House Bill 2308, 2013, and Oklahoma Statutes 68-2357.66)