2013 inflation-adjustment factor, reference price for section 45K nonconventional source fuel credit for coke, coke gas  

April 7: The IRS today released for publication in the Federal Register a notice listing the nonconventional source fuel credit rate, inflation adjustment factor, and reference price under section 45K for coke or coke gas (other than from petroleum-based products) for calendar year 2013.

The notice [PDF 12 KB] provides that for 2013—

  • The inflation adjustment factor for 2013 is 1.1975.
  • The nonconventional source fuel credit rate under section 45K(a) is $3.59 per barrel-of-oil equivalent of qualified fuels (i.e., $3.00 x 1.1975).
  • The reference price is $96.13. (For 2012, the reference price was $94.53; for 2011, $95.73; for 2010, $74.71; for 2009, $56.39; and for 2008, $94.03.)

Section 45K provides a credit for producing fuel from a nonconventional source, measured in barrel-of-oil equivalent of qualified fuel.

For calendar year 2013, the credit under section 45K is available only for coke or coke gas and is not subject to phase-out.

The IRS also released this information as Notice 2014-25 in Internal Revenue Bulletin 2014-17 [PDF 210 KB] (dated April 21, 2014).

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