It’s taken years to pass and develop rules for the 45Z tax credit. This is a tax incentive for the production of low-carbon fuels and a potential new revenue stream for farmers. The administration is expected to release the 45Z feedstock guidance very soon. Jared Knock is a Willow Lake, South Dakota farmer and rancher who was part of a panel discussion about 45Z at the Bushel Conference in Fargo. While many growers are reluctant to share their data, Knock is not in that mix. “I would share that with an ethanol company, I would share that with a grain merchandiser, especially if there’s an incentive,” said Knock. “I already have to report it to USDA, I already have to report it to crop insurance. And so it’s not like there’s a little black book there that no one gets to see already.” While 45Z can be a complicated topic. Knock believes it is important for farmers to get in front of this issue.
