Eyes on Energy Tax Update is a regular publication of the Holland & Knight Energy Tax Team that provides highlights of important energy tax developments. ...more
The U.S. Department of the Treasury and IRS have released several pieces of guidance regarding the tax incentives for clean vehicles provided under Sections 30D (new clean vehicle credit), 25E (previously owned vehicle...more
4/14/2023
/ Automotive Industry ,
Batteries ,
Comment Period ,
Electric Vehicles ,
Energy Tax Incentives ,
Inflation Reduction Act (IRA) ,
IRS ,
Lithium Batteries ,
Manufacturers ,
Mineral Extraction ,
NPRM ,
Supply Chain ,
Tax Credits ,
Tax Incentives ,
U.S. Treasury ,
Zero-Emission Vehicles
After much anticipation, the Internal Revenue Service (IRS) released guidance regarding the energy community bonus credit under Sections 45, 48, 45Y and 48E, which also is applicable for purposes of Section 48C. The guidance...more
Reinstated by the Inflation Reduction Act of 2022 (IRA), Section 48C of the Internal Revenue Code provides $10 billion in credits for qualifying advanced energy projects, $4 billion of which must be allocated projects located...more
As promised, the U.S. Department of the Treasury (Treasury Department) and IRS on Dec. 27, 2022, issued guidance regarding the new corporate alternative minimum tax (CAMT) enacted as part of the Inflation Reduction Act (IRA)....more