Ashton, Iowa — The October 17th hearing over state tax credits granted to an ethanol company will not be open to the public.
South Dakota-based Poet Biorefining operates a dozen plants in Iowa, such as the one in Ashton. Last year the Iowa Department of Revenue notified Poet it did not qualify for the state’s research activities tax credit and must repay the State of Iowa for any credits it has received.
Poet is appealing that decision and its attorneys are arguing the financial documents they will present at the hearing are confidential and state officials have agreed to that request. Iowa Freedom of Information Council executive director Randy Evans says that decision is troubling.
The hearing over this tax issue is scheduled for October 17th. A spokesperson for Poet says the company does not comment on pending legal matters. Several other ethanol companies have been notified they’re in a similar spot and appealing the state’s notice to repay research activities credits they’ve received.
