Tax Planning, Internal Revenue Code (IRC), Production Tax Credit

Tax Credit Implications of the One Big Beautiful Bill Act

Troutman Pepper Locke on 6/11/2025

On May 22, the U.S. House of Representatives passed an amended version of H.R. 1—the One Big Beautiful Bill Act (the Bill) — by a vote of 215-214. The House-passed version of the bill, slated to be considered by the Senate...more

Tax Credit Transfers May Have Unexpected State Tax Consequences

Husch Blackwell LLP on 6/10/2025

One of the most celebrated features of the Inflation Reduction Act (“IRA”) is the ability to sell tax credits, including the Production Tax Credit (“PTC”) under Internal Revenue Code (“IRC”) § 45 and the Investment Tax Credit...more

UPDATED: IRS Releases 2022 Section 45 Production Tax Credit Amounts

Mayer Brown on 5/6/2022

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

IRS Releases 2022 Section 45 Production Tax Credit Amounts

Mayer Brown on 4/27/2022

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

IRS Finalizes Guidance Relating to Carbon Capture and Sequestration

Orrick, Herrington & Sutcliffe LLP on 1/29/2021

On January 6, 2021, the IRS issued final regulations relating to section 45Q. This is the fourth piece of guidance from the IRS relating to section 45Q, following IRS Notice 2020-12, Revenue Procedure 2020-12, the Proposed...more

IRS Releases Critical Guidance on Carbon Capture Tax Credits

Morgan Lewis on 2/21/2020

The guidance issued on February 19 by the Internal Revenue Service is the type that the carbon capture and storage industry had sought, and will hopefully open up the market for investment by eliminating tax-related...more