News & Analysis as of

U.S. Treasury Tax Credits Carbon Emissions

Allen Matkins

Renewable Energy Update 5.07.24

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Governor Gavin Newsom said on April 25 that California continued to rapidly add the battery storage that is crucial to the transition to cleaner energy, but admitted it was still not enough to avoid blackouts during heat...more

Husch Blackwell LLP

Green Hydrogen Tax Credit: 45V Answers Expected Soon

Husch Blackwell LLP on

The future of the green hydrogen industry in the United States will become a bit clearer in the coming weeks. Comments on the proposed hydrogen tax credits in 26 USC 45V were due by February 26, 2024, and will be discussed at...more

Akin Gump Strauss Hauer & Feld LLP

This Week’s Climate Policy Update - January 2024

Good morning! This is Akin’s newsletter on climate change policy and regulatory developments, providing information on major climate policy headlines from the past week and forthcoming climate-related events and hearings...more

King & Spalding

Hydrogen-Related Provisions of the Inflation Reduction Act of 2022

King & Spalding on

The Inflation Reduction Act of 2022, passed by the Senate on August 7, 2022, includes a number of provisions projected to result in significant investments in domestic energy production and manufacturing, and reduce carbon...more

Bracewell LLP

Taxpayers Get Answers on 45Q Questions With IRS Guidance

Bracewell LLP on

The Internal Revenue Service released helpful guidance in Revenue Ruling 2021-13, regarding the scope of carbon capture equipment and the requirement that a taxpayer own the carbon capture equipment to qualify for carbon...more

Beveridge & Diamond PC

Treasury Department Finalizes Regulations to Govern 45Q Tax Credits for Carbon Capture and Sequestration

Beveridge & Diamond PC on

As we previously reported, in June 2020, the Treasury Department issued proposed regulations to implement Section 45Q of the Tax Code, which provides tax credits for capturing and sequestering carbon oxides that would...more

Troutman Pepper

Treasury and IRS Issue Final Regulations for Section 45Q Credits for Carbon Sequestration

Troutman Pepper on

Treasury and the IRS have published final regulations (Final Regulations) under Section 45Q of the Internal Revenue Code, which provides for a production tax credit for persons who physically or contractually ensure the...more

McGuireWoods LLP

Carbon Capture Tax Credits — IRS Issues Final Treasury Regulations

McGuireWoods LLP on

The U.S. Department of the Treasury and IRS recently issued final regulations regarding carbon capture tax credits under section 45Q of the Internal Revenue Code, which amend and clarify the proposed regulations issued last...more

Latham & Watkins LLP

Treasury Finalizes Carbon Capture Tax Credit Regulations

Latham & Watkins LLP on

The US Treasury Department and the IRS provided practical administrative rules for the carbon capture and sequestration tax credit. Key Points: ..The IRS finalized the third set of rules in a series of regulatory guidance...more

Bracewell LLP

Treasury Releases Final Regulations on Carbon Capture Credits

Bracewell LLP on

On January 6, 2021, the Department of the Treasury and the Internal Revenue Service (IRS) issued final regulations (the Final Regulations) under section 45Q of the Internal Revenue Code of 1986, as amended (Section 45Q),...more

Eversheds Sutherland (US) LLP

Ready, Set, Sequester? An updated guide to the Section 45Q Carbon Capture and Sequestration Credit Guidance

Section 45Q, as amended by the Bipartisan Budget Act of 2018 (BBA), provides a substantial tax credit for the capture and sequestration of carbon dioxide and other carbon oxides. Taxpayers have been awaiting guidance from the...more

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