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McGuireWoods LLP

Senate and House Pass BBB With Favorable Renewable Energy Credit Provisions, Bill Awaits Trump’s Signature

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On July 3, 2025, after a tumultuous week, the Senate and House passed a version of the One Big, Beautiful Bill Act that contains the most favorable renewable energy credit provisions in any iteration of the bill....more

Troutman Pepper Locke

Treasury and IRS Release Updated Guidance on Energy Communities (UPDATED)

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On June 23, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2025-31. This notice includes lists of information that taxpayers may use to determine whether they meet certain requirements...more

Husch Blackwell LLP

Legal Perspectives On CO2-EOR and CCS

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In recent years, the importance of carbon capture technology has grown significantly as a means to combat climate change. With the emergence and advancement of geologic technologies, and their application in the energy...more

Jones Day

Final Regulations Expand Access to "Direct Pay" Elections for Energy Credits

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The U.S. Department of the Treasury and the Internal Revenue Service have issued final regulations allowing tax-exempt entities that are partners in clean energy projects to elect to receive energy tax credits in cash....more

Bricker Graydon LLP

What is an “Energy Community” - IRS Provides Guidance on Key Aspect of the Inflation Reduction Act

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The Inflation Reduction Act (IRA) has been called the most aggressive climate investment ever undertaken by the U.S. Congress. With approximately $370 billion dollars in funding over the next 10 years, it is projected that...more

Polsinelli

Hydrocarbon Tax Policy Trends

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As governments focus on clean energy and carbon reduction initiatives, their oil and gas taxation policies have increasingly come under scrutiny. Polsinelli’s attorneys review a few overarching themes concerning expected...more

Venable LLP

IRS Asks for Comment on Whether Existing Fossil-Based Hydrogen Production Methods Should be Eligible for the IRA Production Tax...

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The Inflation Reduction Act (IRA) contained an enormous benefit - valued in the billions of dollars - for the U.S. hydrogen industry in the form of a Production Tax Credit (PTC) for “qualified” green hydrogen produced over...more

Holland & Knight LLP

The Green Book and Green Energy

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Since the beginning of his presidential campaign, President Joe Biden has made clear his vision to drive the United States toward world leadership in green energy. With tax policy long an important tool in the toolbox for...more

Orrick, Herrington & Sutcliffe LLP

Department of Energy and USEA Release Comprehensive Carbon Capture Incentives Report Co-authored by Orrick

On September 21, the United States Energy Association (“USEA”), on behalf of the Department of Energy Office of Fossil Energy, released a comprehensive report on the current state of carbon capture, utilization, and...more

Foley & Lardner LLP

IRS Releases Initial Guidance Regarding Section 45Q Carbon Sequestration Tax Credit

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On February 20, 2020, the IRS issued its first round of guidance regarding the carbon sequestration tax credit found in Section 45Q (the “Section 45Q Credit”) of the Internal Revenue Code of 1986 (as amended, the “Code”) in...more

Orrick, Herrington & Sutcliffe LLP

Carbon Capture and Sequestration: Incentives Update

Section 45Q Tax Credits Internal Revenue Code Section 45Q provides a tax credit for the sequestration or use of qualified carbon oxides (“COx”), including CO2. Although Section 45Q was enacted in 2008, there was uncertainty...more

Brownstein Hyatt Farber Schreck

Taxation & Representation - April 2019

IN THIS ISSUE - Tax Tidbit - Legislative Lowdown - - Congress’s Kumbaya Moment - Biodiesel Tax Credit - Moore Trouble for Fed Pick - And the Results Are In 1111 Constitution Avenue...more

McGuireWoods LLP

New Opportunities Follow Expansion of Section 45Q Carbon Sequestration Credits

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The recent enactment of the Bipartisan Budget Act of 2018 extended and significantly expanded the existing tax credit for carbon sequestration under Section 45Q of the Internal Revenue Code. Although the Section 45Q credit...more

Holland & Knight LLP

House and Senate Tax Bills Target Renewable Energy Projects

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The U.S. Senate passed its version of a bill to overhaul the U.S. tax code on Dec. 2, 2017, and is now working with the House of Representatives to reconcile its bill with the House's version, passed in November. The goal of...more

Holland & Knight LLP

House and Senate Tax Reform Proposals Diverge on Energy Provisions

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On November 2, House Republicans introduced H.R. 1, the Tax Cuts and Jobs Act. Senate Republicans followed suit shortly thereafter, releasing their proposal on November 9. The House Ways & Means Committee concluded its markup...more

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

Tax Free Sale of Undyed Kerosene from Blocked Pumps: Petroleum Marketers Association of America References IRS Compliance Bulletin

By: Walter G. Wright Category: Arkansas Environmental, Energy, and Water Law Arkansas Environmental, Energy, and Water Law Download PDF The Petroleum Marketers Association of America (“PMAA”) in the October 20th edition...more

Bergeson & Campbell, P.C.

IRS Releases Guidance On Income Tax Treatment Of 2014 Biodiesel Mixture Credits

On August 18, 2015, the Internal Revenue Service (IRS) released a notice containing tax code information for 2014 biodiesel tax credits. The focus of the notice is the treatment of credits under Internal Revenue Code Section...more

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