October 23, 2015
California Changes Tax Law To Allow For Biodiesel Tax Exemption
On October 4, 2015, California Governor Jerry Brown signed Assembly Bill No. 1032, an act to amend Sections 60501 and 60505.5 of the Revenue and Taxation code, relating to taxation, into law. The bill adds biodiesel to the list of fuels that are eligible for tax refunds when they are used for nontaxable purposes. Starting on January 1, 2016, the State Board of Equalization will provide refunds on the portion of nontaxable biodiesel removed from...