IRS Finalizes Guidance Relating to Carbon Capture and Sequestration | Orrick, Herrington & Sutcliffe LLP
To embed, copy and paste the code into your website or blog: 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 Regulations and now the final regulations. With the regulatory structure in place, implementation of most carbon capture, use and sequestration (“CCUS”) structures can proceed with confidence about the tax effects. Background Section 45Q allows a production type credit for taxpayers that capture carbon oxide. ...
Source: jdsupra.com