For all ethanol
45 Cent per Gallon Ethanol Tax Credit Is Important Tool
The Volumetric Ethanol Excise Tax Credit, also known as VEETC is a credit of $.45 for every gallon of pure ethanol blended into gasoline.
A registered blender is the only individual in the supply chain that is eligible for this credit, and it can only be taken once. Understanding where this credit is taken and who is eligible is imperative to keep the pricing of ethanol-blended fuels below regular gasoline and in-line with where they should be. This credit is now refundable quarterly, and all funds are paid out of the General Fund of the federal budget. In years past, these funds were allocated from the Highway Fund.
It is recommended that you consult with your accountant to see how this credit will affect your business.
· Credit of 45 cents for every gallon of pure ethanol blended into gasoline
· E10 would have a credit of 4.5 cents per gallon.
· VEETC is sometimes referred to as the “blenders credit”. A registered blender is the only individual eligible for the credit.
· The credit is refundable quarterly from the General Fund
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