Biodiesel Blend Tax Credit

A tax credit against the state corporate income tax liability is available for each gallon of blended biodiesel fuel containing a minimum of 2% biodiesel (B2), as long as the state special fuel excise tax was paid on the fuel. From January 1, 2012, through December 31, 2012, the credit amount is $0.01 per gallon. (Reference New Mexico Statutes 7-2A-23)