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Factsheet: Agricultural tax credit
Agricultural tax credit
Key Information
Country/Region:
North-America
›
UNITED STATES OF AMERICA
›
MISSOURI
Description:
A Missouri wood energy producer shall be eligible for a tax credit on taxes, as a production incentive to produce processed wood products in a qualified wood-producing facility using Missouri forest product residue. The tax credit to the wood energy producer shall be five dollars per ton of processed material. The credit may be claimed for a period of five years and is to be a tax credit. Income tax credit for any taxpayer who uses “processed biomass engineered fiber fuel” which is defined as any fuel derived from substances produced in this state that were changed from their original form and combined in a manufacturing process in this state of three or more biomass inputs.
Goal/Aim:
Stimulate renewable energy from biomass
Type (and subtype) :
Economic/financial instruments
›
Tax Reduction
Sector/Topic targeted:
Energy
Taxation and Trade
Status:
In force
Impact on regional bioeconomy objectives
Fostering effective governance and involvement of the society:
Not Relevant
Building a strong research, development and innovation base:
Not Relevant
Enhancing the creation of jobs and ensuring availability of required skills:
Not Relevant
Building competitive biobased industries:
Not Relevant
Creating a reliable and enabling policy setting:
Not Relevant
Address the (multilevel) cooperations needed to start biobased businesses:
Not Relevant
Creating an attractive environment including infrastructure:
Not Relevant
Availability of financial resources:
Not Relevant
Learning from the strategies/actions of other regions, clusters,...:
Not Relevant
Fostering the development of strong biobased markets:
Not Relevant
Contact References
Full name of Instrument & Measure (English):
HB 1661 agricultural tax credit: authorizes an income tax credit for a taxpayer who uses processed biomass engineered fiber fuel
Links:
http://www.senate.mo.gov/BTSSearch/Default.aspx
http://www.house.mo.gov/billcentral.aspx?pid=26
http://www.house.mo.gov/billsummary.aspx?bill=HB1661&year=2014&code=R
Contact of Responsible Authority:
Completed by:
VITO
Completed on:
March, 2015
Advanced Information
Feedstock type targeted:
woody byproducts/residues (e.g. prunings)
herbacious perennial crops (miscanthus, switch grass,...)
roundwood/sawnwood
forestry byproducts/residues (tops, branches, bark, stumps)
wood processing byproducts/residues (e.g. sawdust, sawmill byproducts)
postconsumer paper/cardboard
woody
Product type targeted:
Electricity
Heating/Cooling
Combined Heat and Power
Value Chain:
Conversion / transformation / processing
Year Instrument & Measure Started:
2014