Glacier FarmMedia – Canola and soybean growers are lobbying to have their crops recognized as eligible feedstocks for the new sustainable aviation fuel (SAF) tax credit in the United States. The credit is contained in the Inflation Reduction Act signed into law by U.S. President Joe Biden last year. Why it matters: Oilseed producers are […] Read more
Tag Archives tax credit
Crops want in on tax credit
Soybean, canola growers ask to be included in U.S. aviation fuel program
Alberta plans new ag processing tax credit
Incentive to be introduced in 2023 budget
Alberta has telegraphed plans for a new provincial tax credit in its upcoming budget to spur development in the ag processing sector. The province on Tuesday announced plans for what it calls the Alberta Agri-Processing Investment Tax Credit — a 12 per cent, “non-refundable” tax credit for corporations making capital investments in “value-added agri-processing” in […] Read more
U.S. biodiesel industry struggles without subsidy
New York | Reuters — When John Whittington shut his Indiana biodiesel plant this week, he knew the move would leave all 14 of his workers there looking for jobs heading into the U.S. holiday season. But he felt he had no choice. A $1-per-gallon subsidy that had been propping up the industry since 2005 […] Read more
U.S. biodiesel lobby drops effort to adjust tax credit
Chicago | Reuters — The biggest U.S. biodiesel lobbying group has dropped its nine-year push to convert a US$1-per-gallon tax credit available to blenders of the biofuel into one for producers, the vice-president of federal affairs said on Friday. The tax credit benefits companies that blend biodiesel into fuel sold at U.S. gas stations. It […] Read more
Quebec’s winter trails to remain open as tax reform halted
Snowmobile trails going through farmland owned by members of Quebec’s Union des producteurs agricoles (UPA) will remain open as the province hits the brakes on changes to its farmland property tax credit plan. UPA members had recently pledged to revoke previously-permitted access to their land for snowmobile trails starting Monday (Feb. 6) in a dispute […] Read more
Farm business tax credits on tap in Manitoba budget
Expansions and extensions for tax credits of use to Manitoba farmers and small agribusinesses were laid out Thursday in the province’s latest budget. Finance Minister Greg Dewar’s plan calls for an expansion of the province’s small business venture capital tax credit, broadening its list of eligible businesses to include “non-traditional farming” ventures, as well as […] Read more
Prairie crop checkoff tax credits pegged for 2014
Prairie crop growers who are preparing their returns for the 2014 tax year and didn’t ask for refunds on their crop checkoffs may be able to see some of those funds come back in tax credits. Some crop commodity groups’ checkoffs qualify for the federal Scientific Research and Experimental Development (SR+ED) tax credit, which can […] Read more
Cyber-Savvy Farmer
