Iowa Biodiesel Production Refund

Monday, November 21st, 2011

 
 
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Iowa
General

Iowa recently enacted a sales tax refund for qualified biodiesel producers. Under this provision, a biodiesel producer will be able to claim a refund for all or a portion of sales and use tax paid in Iowa based on the amount of biodiesel produced. The refund becomes effective January 1, 2012 and will be available for the calendar years 2012 through 2014.

In anticipation of this, the Iowa Department of Revenue has adopted a new regulation, Iowa Admin. Code r. 701—12.18, outlining how the Department will implement the refund; this regulation becomes effective December 7, 2011. In order to qualify for the refund, the producer must be engaged in the manufacture of biodiesel and registered with the United States Environmental Protection Agency as a manufacturer, the biodiesel must be for use in biodiesel blended fuel in accordance with Iowa Code section 214A.2, and the biodiesel must be produced in Iowa.


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TTR has a website that companies subscribe to and use daily. This website provides a list of everything that can be bought or sold in the U.S. It provides simple answers to whether buying or selling these items is taxable (subject to a sales tax or other tax), and it provides all the legal authority to support these tax answers.

TTR likes to keep things simple and fun, which is why it has great people who provide help to clients on any support questions they have about transaction tax issues.

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