Concern is mounting as soybean farmers say the lack of soybean purchases by China, coupled with incomplete tax guidance on claiming the 45Z tax credit, is testing growers’ patience as they grapple with big harvests and a drop in crop prices. Though the 45Z credit meant to encourage renewable fuel development survived the One Big Beautiful Bill Act, incomplete guidance on claiming the credit is fueling headwinds for growers.
“Tax lawyers and accounting firms are having a hard time writing opinions as to whether or not someone is eligible for 45Z because they aren’t sure if the guidance has enough authority,” Bracewell’s Tim Urban told Agri-Pulse.
