In Oregon, tax payers are benefiting even more now from last year’s Bovine Manure Tax Credit, thanks to a new set of temporary rules. The tax credit offers bovine manure producers and collectors a tax credit for each wet ton of manure collected to be used as a biofuel or to produce a biofuel. The new rules for administering the credit include definitions, eligibility requirements, application information, and fees.
According to Bloomberg BNA, “Applicants eligible for the credit include bovine manure producers or collectors subject to Oregon’s personal income tax; corporations that collect bovine manure in Oregon that is used in-state as biofuel or to produce biofuel and that are subject to Oregon’s corporation excise tax or corporation income tax; and tax exempt organizations that collect bovine manure in Oregon used in-state as biofuel or to produce biofuel.”
New Mexico, Nevada, and Arizona have similar tax incentives for those that use animal’s waste for biomass, biofuels or other forms of energy.