News & Analysis as of October 12, 2024

Energy Sector

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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 -

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

Mitchell, Williams, Selig, Gates & Woodyard,... on 6/12/2024

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

Domestic Content Adder Guidance: Hits and Misses

Perkins Coie on 5/19/2023

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

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

Akin Gump Strauss Hauer & Feld LLP on 2/23/2023

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

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

McDermott Will & Emery on 6/16/2020

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

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

McDermott Will & Emery on 6/9/2020

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

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

McDermott Will & Emery on 6/27/2019

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

Bracewell Tax Report: February 2018 #2

Bracewell LLP on 3/1/2018

The Bracewell Tax Report is a periodic publication focused on developments in federal income tax law, including the recently enacted Tax Cuts and Jobs Act (TCJA), with emphasis on how such developments impact the energy,...more

Green Tax Incentive Compendium - July 2016

Robinson & Cole LLP on 7/7/2016

Federal Tax Incentives for Renewable Energy and Energy Efficiency - A. GENERAL DESCRIPTION. The Federal Internal Revenue Code provides a business income tax credit in the amount of $0.023 (2015) per kilowatt hour of...more

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Income Taxes › Internal Revenue Code (IRC) › Energy Sector

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