Renewable Energy Sees $440m-$470m Benefit From Biodiesel Tax Credit

On December 20, President Trump signed into law reinstatements and extensions of a set of tax provisions, including the retroactive reinstatement for 2018 and 2019 and extension for 2020 through 2022 of the federal biodiesel mixture excise tax credit, Renewable Energy Group pointed out in a regulatory filing.

With respect to the business of the company conducted in 2018 and in the first nine months of 2019, the amount of the retroactive credit is estimated to result in an aggregate net benefit in the range of $440M to $470M. The aggregate net benefit for the aforementioned period, which will be recognized in Q4, will increase Renewable Energy's pre-tax operating earnings by a similar amount, the company added
 

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