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Tractor Talk Discussion Forum

tax status of biofuel and reclaimed cooking oil

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Bser

01-29-2008 13:54:15




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have the feds decided how they are going to tax the fuel we reclaim? How do we pay this?




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T_Bone

01-29-2008 16:07:54




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 Re: tax status of biofuel and reclaimed cooking oil in reply to Bser, 01-29-2008 13:54:15  
Hi BS'er,

Have the Feds changed the law recently?

The Feds allow each family member to make 400gal of fuel yearly. If that fuel is used on the hi-ways then you owe road tax.
In AZ, road tax has to be "pre-paid" at the rate of $.18/gal/private, $.26/gal/commerical or serious fines are imposed. AZ makes you file a income tax return to receive any access road tax back. Of course they also get to collect income tax at the same time. Az does not dip tanks here as they don't have too with the above plan.

So that's only $180/yr road tax if your making 1000gal of fuel. Pretty cheap for a 1000gals.

T_Bone

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wilsonfire

01-29-2008 15:48:36




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 Re: tax status of biofuel and reclaimed cooking oil in reply to Bser, 01-29-2008 13:54:15  
Currently in my great state of Oklahoma there is no tax of any kind. I guess we look at it like makin" your own wine or beer. Chas



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IaGary

01-29-2008 15:40:00




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 Re: tax status of biofuel and reclaimed cooking oil in reply to Bser, 01-29-2008 13:54:15  
How much biodeisel do you reclaim?

Just wondered if it was worth getting into.

Can't see where there is a large enough supply of used cooking oil to supply very many.

I burn 4 to 5000 gallons a year and don't think I could find that much but maybe I can.

If Mcdonalds uses 5 gallon a day thats only 2000 gal a year.

Just wondering

Gary



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JT

01-30-2008 07:09:32




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 Re: tax status of biofuel and reclaimed cooking oil in reply to IaGary, 01-29-2008 15:40:00  
Gary,
If you could find 2,000-2,500 gallon a year, mix it with what you are using now, it would cut your fuel cost by 30-40%. You might also go to this site and do a little reading. It is a diesel magazine aimed more at trucks, but it has some interesting articles on bio.
Jim



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landlord7012

01-29-2008 15:39:38




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 Re: tax status of biofuel and reclaimed cooking oil in reply to Bser, 01-29-2008 13:54:15  
Two local guys (NE Wisconsin) were interviewed in the local paper. The both disclosed how much fuel they used. 3 days later thay both had tax bills in the mail. Can't be sure but I think it was for road tax of 30 cents per gallon. Not sure if it was state or fed though.

fuelord



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RLH

01-29-2008 14:39:49




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 Re: tax status of biofuel and reclaimed cooking oil in reply to Bser, 01-29-2008 13:54:15  
we are looking into buying a setup to process it. there is a 70cent tax incentive to do this but then they will know about it what they dont know wont hurt me. im not going to claim tax credit



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