Today, US excise taxes impact not only traditional refining and petroleum marketing companies but also petroleum product/crude importers, pipeline operators, terminal operators and natural gas fractionators. And soon more companies may feel the effect of these taxes: based on proposed legislation, previously untaxed alternative fuels may be taxed similar to petroleum-based fuels.
Excise taxes on petroleum products have existed for years and historically were applied to traditional petroleum products such as gasoline, diesel and jet fuel. However, changes in the energy industry in recent years have increased the reach of excise taxes. With the increasing availability of commercial renewable fuels such as biodiesel and of shale, due to newly discovered shale plays, the number of companies impacted by excise taxes has increased sharply.
Please join us as we explore key topics in excise tax today. After this 90 minutes webinar, you will:
- Know if your company has an excise tax issue
- Be able to identify federal income tax benefits for biodiesel and gasohol credits
- Be able to identify federal excise tax credits on fuel used in mobile machinery vehicles
- Know the current provisions for and pending changes to the biodiesel credit
- Understand the principals of taxation on US imports of petroleum products and crude oil
- Be up-to-date on excise tax issues from around the country