IRS seeks comments on key technical questions under the 45Q Credit regime that should spur industry growth.

Key Points:

..The 45Q Credit, which was significantly broadened in 2018, provides a tax credit for each metric ton of qualified carbon oxide captured at qualified carbon capture facilities.

..The IRS announced (Notice 2019-32, I.R.B. 2019-21 1187) its intent to issue regulations and other guidance resolving key questions under Section 45Q and is soliciting public comments through July 4, 2019.

..Guidance is expected to resolve open legal questions and remove barriers to investment in the carbon capture sector.

..Favorable guidance may enable tax equity investments in carbon capture equipment.