News & Analysis as of

Investment Tax Credits Semiconductors

Pillsbury Winthrop Shaw Pittman LLP

Senate Draft Tax Bill Expands CHIPS Act Investment Tax Credit

Proposed legislation would increase the Advanced Manufacturing Investment Tax Credit from 25% to 30% for projects started by the end of 2026. Substantial differences between House and Senate versions of the tax package will...more

Eversheds Sutherland (US) LLP

Treasury and IRS release final regulations on elective payment election under CHIPS Act Section 48D

On March 5, 2024, the Department of Treasury (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) on the elective payment election of the advanced manufacturing investment credit...more

Kohrman Jackson & Krantz LLP

Intel Receives Largest U.S. Funding Grant to Date but Confirms Further Delay’s in New Albany Facility Operations

On March 20, 2024, Intel and the White House announced Intel will receive $8.5 billion in federal subsidies to support Intel’s semiconductor plants in the United States. This grant is the largest award announced under the...more

Eversheds Sutherland (US) LLP

Directions regarding Direct Pay - Proposed Regulations Released on Elective Payment for Inflation Reduction Act Renewable Energy...

On June 14, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued guidance on several topics related to tax credit monetization under the Inflation Reduction Act of 2022 (IRA),...more

Goodwin

The South Korean K-Chips Act and Its Impact on International Companies and Investors

Goodwin on

For investors in enterprises in the Korean semiconductor industry and other national strategic industries, a new tax bill has been passed that (i) increases the base tax credits received by these enterprises to 25% (if...more

Hogan Lovells

U.S. tax alert: Inflation Reduction Act, CHIPS Act & Private Capital

Hogan Lovells on

On August 16th, President Biden signed the Inflation Reduction Act of 2022 (H.R. 5376) into law (the “IRA”). Among the most significant provisions in the bill are extensions and expansions of clean energy tax incentives, a...more

Akin Gump Strauss Hauer & Feld LLP

CHIPS Act Strategy: Department of Commerce Releases Additional Information on Applications for $50 Billion in Funding

On September 6, 2022, the U.S. Department of Commerce (“Department”) released a 20-page document providing key details on the administration and application process for the award of $50 Billion through the Creating Helpful...more

Eversheds Sutherland (US) LLP

All In: CHIPS Act provides incentives for semiconductor investment

​​​​​​​In a show of bipartisanship, Congress passed the Creating Helpful Incentives to Produce Semiconductors Act (CHIPS Act) on July 27, 2022, which was signed into law by President Biden on August 9, 2022. The CHIPS Act...more

Morrison & Foerster LLP

Biden to Sign CHIPS Act, Including Brand New Investment Tax Credit for Semiconductor Facilities

On July 28, 2022, Congress passed the CHIPS Act (CHIPS). Among other things, CHIPS adds Section 48D to the Internal Revenue Code, which provides a new advanced manufacturing investment tax credit for investments in...more

Vinson & Elkins LLP

Renewable Reboot – The Inflation Reduction Act of 2022 Released as Senator Joe Manchin (D-WV) Changes Stance on Climate Change and...

Vinson & Elkins LLP on

On July 27, 2022, only a few hours after the Senate approved a bipartisan semiconductor and technology package, Senator Manchin made a stunning and well-timed reversal of his prior position and confirmed his support for...more

Foley & Lardner LLP

What’s Next in Washington? - April 2022

Foley & Lardner LLP on

While Congress has a two-week recess in April, there are many priority items on the agenda this month. Less than two weeks after signing the Fiscal Year (FY) 2022 spending package, President Biden released his budget for FY...more

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