Motor Fuels Tax Minute, Episode 21: Tax Credits in the Inflation Reduction Act

In this week’s episode of Motor Fuels Tax Minute, our hosts will discuss the tax credits in the Inflation Reduction Act.


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Detailed Description of Weaver's Motor Fuels Tax Minute, Episode 21


Emilda: Welcome to Weaver's Motor Fuel Tax Minute, where we talk all things motor fuel. This week, Leanne will discuss the tax credits in the Inflation Reduction Act.


Leanne: Thanks, Emilda. I want to touch briefly on three of the tax credits that we're seeing coming up for all of our clients who are in the business of producing energy or who have facilities. And these are the carbon sequestration credit, the clean hydrogen credit and the clean fuel production credit.

If you've got a production facility and you're producing a biofuel, you may have the opportunity to get any or all of those credits. And something that's important to note is that these are not stackable. You can only get one of those credits. So when you're analyzing your business, it's going to behoove you to determine which of these credits is most going to benefit you. It's very easy to jump from the blender's credits that you've probably been getting for years to think ‘I'm going to do the clean fuel production credit.’ But if you're also producing clean hydrogen, or you've got carbon sequestration going on, those might be better options for you.

And we've got a great team here at Weaver covering all of these credits and we'd be happy to assist in any of those analyses.


Kelly: Excellent. Thank you so much, Leanne, for that information.

To all of our viewers, please remember to drop us a motor fuel topic that you would like to hear more about. You might win some Weaver swag if we pick yours.

That is all for this week's Motor Fuel Tax Minute. Thank you.

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Leanne Sobel

Leanne Sobel

Director, Motor Fuels and Excise Tax Services


Leanne Sobel, J.D., has over 15 years of experience in legal tax matters. Her career focus includes federal and state tax and…

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