Montana Renewables Receives Approval of Excise Tax Registration
GREAT FALLS, Mont., Dec. 12, 2024 /PRNewswire/ — Montana Renewables, LLC introduced at this time that it has acquired approval of its Excise Tax Registration from the Inside Income Service. Registration is step one towards permitting the enterprise to say clear gas Manufacturing Tax Credit (PTC) for current manufacturing beneath Inside Income Code Part 45Z. Montana Renewables, LLC, which operates a U.S. certified manufacturing facility, is registered as each a producer of fresh transportation gas and sustainable aviation gas (SAF). The Part 45Z PTC offers a transferrable federal revenue tax credit score for clear fuels produced after December 31, 2024, and earlier than January 1, 2028. The Part 45Z PTC replaces the earlier Blenders Tax Credit score. Montana Renewables is an unrestricted subsidiary of Calumet (NASDAQ: CLMT).
Bruce Fleming, CEO, stated :
This procedural change from the outdated Blenders Tax Credit score to the brand new Producers Tax Credit score extends an extended historical past of bipartisan assist for home agriculture and creates incentives for Montana money crops together with camelina
“Whereas MRL is feedstock agnostic, on behalf of growers we specific the hope that the upcoming PTC detailed laws will show superior to the BTC it replaces.”
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Montana Renewables Receives Approval of Excise Tax Registration, supply
