Biodiesel Production Tax Credit
Qualified biodiesel and green diesel producers are eligible for a tax credit of $0.01 per gallon of biodiesel or renewable diesel fuels produced. This credit is available for producers who generate up to two million gallons of biodiesel or renewable diesel fuel per year. The annual credit may not exceed $5,000, and producers are only eligible for the credit for the first three years of production. The Virginia Department of Mines, Minerals and Energy must certify qualified producers. For more information, see the Virginia Department of Taxation Environmental Credits website.
(Reference Virginia Code 58.1-439.12:02)
Type: State Incentives
Enacted: Mar 8, 2008
Amended: Apr 7, 2021
Technologies: Biodiesel, Renewable Diesel
See all Virginia Laws and Incentives.