IRS and Treasury today issued Revenue Procedure 2022-42, which includes procedures for manufacturers of electric vehicles...more
On November 3, 2022, the U.S. Internal Revenue Service (IRS) issued three additional notices requesting public input on key aspects of climate and clean energy tax provisions in the Inflation Reduction Act. Here is list of,...more
President Biden signed the Inflation Reduction Act of 2022 (the “IRA”) into law on August 16, 2022. Among other things, the IRA expands the federal income tax credits available to promote the development and use of renewable...more
President Biden signed the Inflation Reduction Act of 2022 (IRA) into law on Tuesday, August 16, 2022. Among other things, the IRA expands the federal tax credits available to promote renewable energy and revises the...more
On April 14, 2022, the US Internal Revenue Service (IRS) published a notice that provides the inflation-adjustment factor and reference price for the calculation of renewable electricity production tax credits (PTCs) under...more
5/6/2022
/ Biomass ,
Critical Infrastructure Sectors ,
Energy Projects ,
Geothermal Energy ,
Inflation Adjustments ,
Internal Revenue Code (IRC) ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
Tax Planning ,
Wind Power
On April 14, 2022, the US Internal Revenue Service (IRS) published a notice, which provides the inflation-adjustment factor and reference price for the calculation of renewable electricity production tax credits (PTCs) under...more
As the renewable energy sector has grown in recent years, thanks in part to federal income tax credits, researchers and policymakers have begun to focus on the role of energy storage. Because wind and solar are intermittent...more
On July 1, 2021, the US Internal Revenue Service (the “IRS”) released Revenue Ruling 2021-13 (the “Ruling”), which provides additional guidance on the definition of “carbon capture equipment” for purposes of the carbon...more
On July 1, 2021, the US Internal Revenue Service (the “IRS”) released Revenue Ruling 2021-13 (the “Ruling”), which provides additional guidance on the definition of “carbon capture equipment” for purposes of the carbon...more
Section 30D of the US Internal Revenue Code (“IRC”) provides business and individual taxpayers that purchase new qualified plug-in electric drive motor vehicles (“EVs”), including passenger vehicles and light trucks, with a...more
On May 24, 2021, the US Internal Revenue Service (IRS) released Notice 2021-32, which provides the inflation-adjustment factors and reference prices for the calculation of renewable electricity production tax credits (PTCs)...more
Over the past number of weeks, a variety of legislative proposals, from both sides of the aisle, have been released that, if enacted, could drastically impact the US energy industry and, in many cases, the taxation of energy...more
4/28/2021
/ Carbon Emissions ,
Clean Energy ,
Energy Efficiency ,
Energy Policy ,
Fossil Fuel ,
Infrastructure ,
Legislative Agendas ,
Oil & Gas ,
Tax Credits ,
Tax Incentives ,
Tax Liability ,
Transportation Corridor ,
Zero-Emission Vehicles
Over the past number of weeks, a variety of legislative proposals, from both sides of the aisle, have been released that, if enacted, could drastically impact the US energy industry and, in many cases, the taxation of energy...more
4/28/2021
/ Clean Energy ,
Davis-Bacon Act ,
Energy Efficiency ,
Energy Policy ,
Fossil Fuel ,
Fuel Standards ,
Greenhouse Gas Emissions ,
Infrastructure ,
Legislative Agendas ,
Oil & Gas ,
Outer Continental Shelf ,
Pollution Control ,
Prevailing Wages ,
Tax Credits ,
Tax Incentives ,
Tax Planning ,
Zero-Emission Vehicles
The American Jobs Plan -
On March 31, 2021, the Biden administration released the American Jobs Plan (the “Infrastructure Plan”), which is a proposal that, if ultimately enacted, aims to modernize outdated infrastructure,...more
4/2/2021
/ Biden Administration ,
Clean Energy ,
Corporate Taxes ,
Electric Vehicles ,
Energy Policy ,
Income Taxes ,
Infrastructure ,
Investment ,
Mining ,
Next Generation ,
Oil & Gas ,
Power Infrastructure ,
Tax Credits ,
Tax Planning ,
Tax Reform
On January 6, 2021, the US Internal Revenue Service (the “IRS”) issued final regulations (T.D. 9944) (the “Final Regulations”) on the Section 45Q carbon capture tax credit (the “Carbon Credit”). The Final Regulations...more
1/12/2021
/ Carbon Capture and Sequestration ,
Carbon Emissions ,
Critical Infrastructure Sectors ,
Energy Projects ,
Greenhouse Gas Emissions ,
Internal Revenue Code (IRC) ,
Investors ,
IRS ,
Revenue Procedures ,
Tax Credits ,
Tax Planning ,
Urban Planning & Development
On Monday, December 21, 2020, the United States Congress passed a second large stimulus bill (the “Relief Bill”) aimed at curtailing the economic disruptions caused by COVID-19. ...more
1/7/2021
/ Carbon Capture and Sequestration ,
Clean Energy ,
Energy Projects ,
Energy Tax Incentives ,
Investment Tax Credits ,
Production Tax Credit ,
Renewable Energy ,
Renewable Energy Incentives ,
Solar Energy ,
Tax Credits ,
Wind Power
The IRS yesterday released final regulations under Section 45Q regarding the carbon capture tax credit....more
On Monday, December 21, 2020, the United States Congress passed a second large stimulus bill (the “Relief Bill”) aimed at curtailing the economic disruptions caused by COVID-19. The Relief Bill, among other things, extends...more
Treasury and the IRS have issued proposed regulations on the revised carbon capture credit under Section 45Q....more
On May 27, 2020, the US Internal Revenue Service (the “IRS”) released Notice 2020-41 (the “Notice”), updating the IRS guidance on the start-of-construction rules for the production tax credit (“PTC”) and energy investment tax...more
5/31/2020
/ Begun Construction Test ,
Energy Projects ,
Investment Tax Credits ,
IRS ,
Popular ,
Production Tax Credit ,
Qualified Energy Facilities ,
Renewable Energy ,
Safe Harbors ,
Solar Energy ,
Tax Credits ,
Wind Power
On July 17, 2019, the US Internal Revenue Service (IRS) issued final regulations (T.D. 9872) providing guidance on the rules under Internal Revenue Code (IRC) section 50(d)(5) requiring an income inclusion by the lessee in...more
7/22/2019
/ Corporate Taxes ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Leases ,
New Regulations ,
Pass-Through Entities ,
Public Comment ,
Real Estate Investments ,
Regulatory Requirements ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Planning
On June 6, 2019, the US Internal Revenue Service (IRS) published a notice providing the inflation-adjustment factors and reference prices for the calculation of renewable electricity production tax credits (PTCs) under...more
In September, the State of Hawaii Department of Taxation issued a letter ruling (Hawaii Letter Ruling No. 2018-01) that clarified the “placed in service” requirement in the application of the Renewable Energy Technologies...more
In 2017, Maryland, with Governor Larry Hogan’s (R) support, became the first state in the country to launch a tax credit program for energy storage systems. ...more
On June 22, 2018, the IRS released Notice 2018-59 (the “Guidance”). The Guidance provides rules to determine when construction begins with respect to investment tax credit (“ITC”) eligible property, such as solar projects. ...more