Ethanol Production Tax Credit
The following was repealed by Public Law 190, 2014: An ethanol producer located in Indiana is entitled to a credit of $0.125 per gallon of ethanol produced, including cellulosic ethanol. The Indiana Economic Development Corporation must review and approve applications for this credit. The credit granted to a single taxpayer may not exceed the following amounts for all taxable years:
|Tax Credit||Annual Production|
|$2 million||More than 40 million and less than 60 million gallons of grain ethanol|
|$3 million||At least 60 million gallons of grain ethanol||$20 million||At least 20 million gallons of cellulosic ethanol|
Any unused credit may be carried forward for the following taxable years. For more information, see the Indiana Department of Revenue Fuel & Environmental (Gasoline) Tax Forms website.
(Reference Indiana Code 6-3.1-28)