Biodiesel Production Investment Tax Credit

Investors in Nebraska biodiesel production facilities are eligible to receive a tax credit of 30% of the amount invested in the facility between January 1, 2008, and January 1, 2015, up to $250,000. The credit is only available for facilities that produce B100, conduct all processing in Nebraska, and are at least 51% owned by Nebraska individuals or entities. The state may reclaim the tax credit if the biodiesel production facility remains in operation for less than three years. B100 is defined as a pure biodiesel containing mono-alkyl esters of long chain fatty acids derived from vegetable oils or animal fats that meets ASTM standard D6751. For more information, see the Nebraska Department of Revenue's website. (Reference Nebraska Revised Statutes 77-27,236)