IRS Clean Fuel Tax Credit Guidance Details Eligibility Rules

The Treasury Department and IRS Friday issued new guidance on the Clean Fuel Production tax credit, laying out that a taxpayer must be registered as a producer of clean fuel at the time of production to be eligible for the credit.

The guidance (Notice 2024-49) provides information for taxpayers registering for both sustainable aviation fuel—or SAF—and non-sustainable aviation transportation fuel. The credit is equal to the product of the applicable amount per gallon (or gallon equivalent) for any transportation fuel that is produced by the taxpayer at a qualified facility during the taxable year and the emissions factor ...