Buried in the health car reform legislation is a mention of a paper-making byproduct known as "black liquor." This substance, a wood-pulping byproduct, is utilized as a biofuel to generate electricity for paper-making companies throughout the U.S. Up until now, companies utilizing this black substance could claim a hefty tax credit related to the use of biofuels for production purposes.
Know the difference between a tax rebate and a tax credit? They may seem like the same thing – paying fewer taxes – but there's a big difference. A credit is something you get back when you file your taxes and a rebate, in this case an instant cash rebate, is money you'd get back when you buy the item. A new electric car, for example.
The U.S. federal government has put a lot of money into clean car companies this past year, including about $8.5 billion through U.S. Department of Energy's Advanced Technology Vehicle Manufacturing Program (Ford got $5.9 billion, Nissan $1.6 billion, Fisker Automotive $528.7 million, and Tesla Motors $465 million) and another $2+ billion for advanced batteries (some say it was more than that). There may be more coming down the pike.
Members of ElectricAid and Norstart, two pro-electric vehicle organizations in Norway, spent the weekend talking to high profile politicians in that country about the country's EV policies. The occasion was the annual Environmental Car Exhibition in Oslo and representatives from the two groups brought along a proposal to help the EV industry, one they wanted to run by the politicians present. The proposal reads, in part:
There were good and bad receptions to President Obama's move earlier this week to push the EPA to rethink the California waiver decision (details here). GM released a very short statement that said they were "ready to engage the Obama administration and the Congress" on this topic (read the whole thing after the jump). The Progressive Auto X Prize praised Obama's opening the door to California setting its own standards greenhouse-gas emissions.
The state of Michigan has been trying to attract advanced technology and green energy companies for several years now - with limited success. The latest effort passed through the Michigan legislature just before the holiday break in the form of tax credits for battery companies that set up manufacturing facilities in the state.
If you're the Ned Flanders type who just loves to get your taxes done early, we've got the post for you. The IRS has prepared a document on the changes to the tax code that biodiesel and cellulosic biofuel producers need to be aware of. If you know that ASTM D 6751 biodiesel standard was revised, but don't know what the revision means for you, then you should download the paper (PDF).
At meeting this week at Michigan State University on "green collar job" creation, Governor Jennifer Granholm floated the idea of state income tax credits for residents that buy hybrid or electric cars. While the IRS and a variety of states already offer similar incentives, it's unlikely that Michigan will be able to offer anything unless they stipulate that the cars must be built in the state. In that case the number of qualifying vehicles would be ... ZERO. At this time none of the available hy
The John McCain presidential campaign has started running a new TV ad in Michigan that simultaneously tries to pander to everyone. Earlier this year, while campaigning in the primaries, he told voters in Michigan and Ohio that "those (manufacturing) jobs aren't coming back." In that bygone era of six months ago, McCain was opposed to any kind of protection for American businesses from free trade policies. Now the new ad proclaims support for federal loans to help automakers re-tool to build more
As tax day approaches here in the United States, those who bought a new hybrid or natural gas powered vehicle during 2006 shouldn't forget to claim their tax breaks. Cars.com has published a list of the eligible vehicles and how much of a break you can get on each one. Depending on when you bought your car, your tax credit may also be less, as they are ratcheted downwards once a manufacturer sells more than 60,000 units starting from January 1, 2006.
Seven vehicles produced by Honda Motor Company have achieved certification from the U.S. government that they're fit for tax credits, the Internal Revenue Service reported on Thursday. In a roundabout way that would be tedious to explain here, the perk generally cuts off after Honda has sold its 60,000th hybrid vehicle. Vehicles in question include the 2005 and 2006 Civic, Accord and Insight models. Tax breaks range from $650 to $3,400, according to the release, which you'll find after the jump.
Today we delved a bit deeper into the relationship a group of nuns has with their Honda Civic GX compressed natural gas cars, and it's good timing since Honda just announced the price of the 2006 Civic GX: $24,440. There are up to $5,000 worth of tax credit associated with buying this car, four grand for the vehicle and a thousand for the home-fueling apparatus.
With tax day just past, it’s good to know the IRS still hearts biofuels. There are plenty of tax credits for those involved in the biofuel way of life. Everyone from individuals or businesses purchasing cars, to small agri-business biofuel producers (those who make less than 15-million gallons of biodiesel or 60-million gallons of ethanol) can benefit from these tax credits.