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Income Taxes › Energy Sector

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Skadden, Arps, Slate, Meagher & Flom LLP

Senate Finance Committee Proposes Key Departures From House Provisions for the One Big Beautiful Bill Act

Skadden, Arps, Slate, Meagher & Flom LLP on

Key Points - - The Senate Finance Committee’s version of the tax-related proposals aim to deliver on Senate Republicans’ promise to make many of the TCJA’s individual and corporate tax measures permanent. - The bill...more

Sullivan & Worcester

How REITs are Impacted by the “One Big Beautiful Bill Act”

Sullivan & Worcester on

The U.S. House of Representatives, by a one-vote margin, passed the “One Big Beautiful Bill Act” (the “House Bill”) early in the morning on May 22, 2025. The House Bill has yet to be considered by the U.S. Senate and will...more

Holland & Knight LLP

México publica reformas y actualizaciones en la normativa energética

Holland & Knight LLP on

México publicó reformas y actualizaciones a diversas leyes y regulaciones energéticas, como se describe a continuación. Simplificación fiscal al régimen fiscal de PEMEX. Ahora PEMEX sólo está obligada a pagar el Derecho...more

Katten Muchin Rosenman LLP

US Treasury and IRS Unveil Proposed Regulations for Commercial EV Tax Credit, Sparking Questions on Recapture Provisions

Katten Muchin Rosenman LLP on

On January 10, the US Treasury Department (Treasury) and the US Internal Revenue Service (IRS) released proposed regulations under Section 45W of the US Internal Revenue Code of 1986, as amended (the Code), which provides a...more

Bowditch & Dewey

Save on your energy bill and income taxes

Bowditch & Dewey on

It is possible to reduce both your energy bills and your federal income tax through use of the energy tax credit. If you make energy efficient home improvements after January 1, 2023, you may qualify for a tax credit up to...more

Mayer Brown

Angola Incremental Production Decree and Other Ongoing Developments

Mayer Brown on

On November 20, 2024, Angola enacted Presidential Decree 8/24 on Oil & Gas Incremental Production (“Incremental Production Decree”). This legal statute creates a new special legal and tax framework aimed to promote additional...more

DLA Piper

REIT Tax News - November 2024

DLA Piper on

Welcome to the November 2024 issue of REIT Tax News. Below, we summarize five key developments impacting REITs this past year....more

Bennett Jones LLP

CRA Relief and Proposed Amendments Mitigate Bare Trust Reporting Burden on Energy Companies

Bennett Jones LLP on

On October 29, 2024, the Canada Revenue Agency (CRA) issued a release stating that it will not require bare trusts to file trust returns for the 2024 tax year, continuing the administrative exemption that was granted for the...more

Pillsbury - SeeSalt Blog

Arizona Court Shines (Sun)Light on Property Tax Treatment of ITCs

Pillsbury - SeeSalt Blog on

The Arizona Court of Appeals held that an investment tax credit (ITC) deferred as a tax asset has “value” and therefore is properly excluded from the taxable original cost of renewable energy equipment for Arizona property...more

Akin Gump Strauss Hauer & Feld LLP

DC Circuit Decision Opens Doors to Rate Increases by FERC-Regulated Oil, Liquids and Refined Products Pipelines

Akin Gump Strauss Hauer & Feld LLP on

Interstate oil, liquid and refined products pipelines regulated by the Federal Energy Regulatory Commission (FERC) will soon be able to raise their transportation rates (provided they were set using FERC’s popular Index rate...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Transferability of Energy Credits under the Inflation Reduction Act: What do you need to know?

Mitchell, Williams, Selig, Gates & Woodyard,... on

Now that final regulations on the transferability of energy tax credits under the Inflation Reduction Act have been issued by the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS), many investors...more

Perkins Coie

Domestic Content Adder Guidance: Hits and Misses

Perkins Coie on

The U.S. Department of the Treasury (Treasury) issued Notice 2023-38 (the Notice) on May 12, 2023, which contains the first rules concerning the domestic content bonus credits for renewable electricity, renewable natural gas,...more

Holland & Knight LLP

Venezuela Update: April 19, 2023 (Spanish)

Holland & Knight LLP on

Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. ...more

Holland & Knight LLP

Venezuela Update: April 19, 2023

Holland & Knight LLP on

Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. ...more

Akin Gump Strauss Hauer & Feld LLP

IRS Publishes Initial Guidance on Section 48C(e) Advanced Energy Project Tax Credit

Akin Gump Strauss Hauer & Feld LLP on

The Internal Revenue Service (IRS) released its initial guidance (the Advanced Energy Project (AEP) Notice, Notice 2023-18) establishing procedures for taking advantage of the renewed and expanded qualifying advanced energy...more

Hogan Lovells

Temporary Solidarity Contribution concerning the Oil, Gas, Coal and Refinery Sectors

Hogan Lovells on

The European Commission has published its proposal for a Council regulation on an emergency intervention to address high energy prices. Besides establishing a regime for demand reduction and a cap on market revenues from...more

Holland & Knight LLP

Proyectos de hidrogeno en Colombia: Reglamentación incentivos

Holland & Knight LLP on

La Unidad de Planeación Minero Energética (UPME) de Colombia, el 5 de agosto de 2022, expidió la Resolución No. 319 de 2022 (la Resolución), por medio de la cual determinó los requisitos y procedimientos para la evaluación y...more

K&L Gates LLP

HUB Talks: Sustainable Outlook: The U.S. Tax Credit Revolution

K&L Gates LLP on

In a special episode, Elizabeth Crouse, tax lawyer and practice group coordinator of the K&L Gates Power group, discusses the winners, losers, and many other highlights of the new U.S. federal income tax credit rules just...more

McDermott Will & Schulte

Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - Health Policy

McDermott Will & Schulte on

In this session, health law policy authorities discussed changes likely in 2021 in a Biden Administration and how these changes will impact business objectives and strategies for health industry stakeholders...more

McDermott Will & Schulte

[Webinar] Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - November 5th, 12:00 pm - 2:15 pm EST

McDermott Will & Schulte on

Are you prepared for the critical impacts of the US election outcome to you and your business in 2021 and beyond? Join McDermott’s lawyers and our policy and lobbying team for perspective on the effects of administration...more

McDermott Will & Schulte

Six Takeaways: Utilization and Structuring For Section 45Q Carbon Capture Credits

McDermott Will & Schulte on

The Treasury Department and IRS recently published proposed regulations implementing the Section 45Q carbon capture and sequestration credit. The regulations clarify some questions about the credit, though many questions...more

McDermott Will & Schulte

[Webinar] Utilization and Structuring For Section 45Q Carbon Capture Credits - June 11th, 12:30 pm EST

McDermott Will & Schulte on

The Internal Revenue Service (IRS) has released a long-awaited proposed rule to implement section 45Q of the Internal Revenue Code, the statutory provision that creates a tax credit for capturing and sequestering carbon...more

Opportune LLP

Creditor Income Tax Considerations in the Form of Ownership for Upstream Oil & Gas Investors

Opportune LLP on

Find out why upstream oil and gas investors should take into account income tax considerations during and after a restructuring event.  ...more

McDermott Will & Schulte

Senate Passes Tax Extenders Deal That Includes Extension of Renewable Energy Incentives

McDermott Will & Schulte on

The US Senate yesterday passed a package of tax extenders as part of the year-end appropriations act that the US House of Representatives passed on December 17, 2019. President Trump is expected to sign the legislation before...more

McDermott Will & Schulte

Court Rules that Wind Farm Did Not Provide Proof of Development Fee to Receive 1603 Cash Grant

McDermott Will & Schulte on

On June 20, 2019, the United States Court of Federal Claims published its long-awaited opinion in California Ridge Wind Energy, LLC v. United States, No. 14-250 C. The opinion addressed how taxpayers engaging in related party...more

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