Ryan, LLC, a global tax service and software provider, reported that the Bipartisan Budget Act of 2018 (passed on February 9, 2018) contained a number of tax extenders, including a one-year retroactive extension of the Energy Efficient Commercial Building Deduction.

The legislation also extends through 2017 a variety of other credits and incentives relating to energy production and conservation:

  • Credit for production of cellulosic biofuels
  • Existing $1.00 per gallon credit for biodiesel and biodiesel mixtures
  • Small agri-biodiesel producer credit of 10 cents per gallon
  • Production tax credit for certain renewable sources of electricity to facilities for which construction had commenced by the end of 2017
  • Special, 50% bonus depreciation allowance for cellulosic biodiesel facilities
  • $0.50 per gallon alternative fuel credit and alternative fuel mixture credit

While not a credit or incentive, Ryan said, the law also extends the oil spill liability tax on certain petroleum products. An excise tax of $0.09 per barrel is imposed on crude oil received at a refinery and petroleum products entered into the U.S. This tax, which expired at the end of 2017, is reinstated effective March 1, 2018 (and expires again on December 31, 2018).

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