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Senegal's New Mining Code

Senegal has officially introduced its new mining code, which has been a work in progress since 2012 when proposals were first made to revise the former mining code introduced in 2003. In recognising the potential that the...more

Indonesian feed-in tariffs – New rules may under-power the renewables sector

Indonesia's new feed-in tariffs (FITs) for renewable energy present a conundrum. Will renewables flourish or fade in the new revenue environment? Investors will not welcome the lower tariffs under the new regime, but state...more

Prospecting for tax deductions

Earlier this year, the Commissioner of Taxation released TR 2017/1 - Income Tax: deductions for mining and petroleum exploration expenditure (the "Ruling"). The Ruling is the finalised version of TR 2015/D4, issued in...more

New Indonesian feed-in tariffs: Will renewables benefit?

In January 2017, the Indonesian Minister of Energy and Mineral Resources introduced new feed-in-tariff (FIT) and procurement schemes for a range of renewable energy sources. The Minister issued a new renewable energy...more

Senegal's new Mining Code

In October 2016, the Senegalese Parliament passed a new Mining Code (the New Mining Code), which affects the way mining permits are processed, places additional social and environmental obligations on mine operators and...more

CRA Releases New Guidelines Regarding Canadian Exploration Expenses

On the heels of some recent positive legislative changes regarding the tax treatment of environmental study and community consultation costs, the Canada Revenue Agency (CRA) has revised its administrative guidelines for the...more

Final Regulations on MLP Qualifying Income Provide Clarification

Final regulations issued by the Treasury and the Internal Revenue Service (IRS) on January 19, 2017, revealed a set of new rules interpreting “qualifying income” under Section 7704(d) of the Internal Revenue Code, affecting...more

IRS and Treasury Finalize Guidance Determining MLP Qualifying Income

Regulations provide rules for determining MLP qualifying income from certain mineral or natural resource-related activities and services. On January 19, 2017, the US Department of the Treasury (Treasury) and the Internal...more

California Cap-and-Trade Lawsuit Hits Milestone with Oral Argument at the Court of Appeal

Yesterday, California’s Third District Court of Appeal heard oral argument in the related cases California Chamber of Commerce v. California Air Resources Board and Morning Star Packing Co. v. California Air Resources Board. ...more

Transmission Partnership Not Deemed Includible in Consolidated Return and Allowed To Collect Income Tax Allowance in its Rates

On January 6, 2017, Texas utility companies organized as pass-through entities, including partnerships, received welcome news regarding their ability (1) not to elect to be treated as a corporation eligible to be included in...more

IRS Provides an ITC Safe Harbor for Projects Under Energy Savings Performance Contract Energy Sales Agreements with Release of...

On January 19, 2017, the IRS released an advance version of Revenue Procedure 2017-19, which provides a safe harbor (the "Safe Harbor") under which the IRS will not challenge the treatment of an Energy Savings Performance...more

Treasury and IRS Release Final Regulations on Qualifying Income, but Halted by Trump Moratorium

January 25, 2017 On January 19, 2017, the Department of the Treasury and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) regarding qualifying income under Internal Revenue Code (Code) section...more

FERC Seeking Comment on Recovery of Income Tax Costs by Jurisdictional Natural Gas and Oil Pipelines and Electric Utilities

The Federal Energy Regulatory Commission (FERC or the “Commission”) announced in December that it is opening a new inquiry and seeking comments regarding its current policies with respect to the recovery of income tax costs...more

IRS Further Updates Beginning of Construction Guidance for Renewable Energy Tax Credits

On December 15, 2016, the Internal Revenue Service (IRS) issued Notice 2017-04, which updates prior guidance regarding the beginning of construction requirement for renewable energy tax credits under IRC sections 45 and 48. ...more

IRS Issues Additional Guidance on Beginning of Construction Rules for Renewable Projects

On December 15, 2016, the Internal Revenue Service released Notice 2017-04, which provides welcome guidance on how to meet the “beginning of construction” requirements for wind and other qualified facilities. There has been...more

FERC Seeks Comments on Double Recovery Resulting from Current Income Tax Allowance and Rate of Return Policies

On December 15, 2016, the Federal Energy Regulatory Commission (FERC) issued a Notice of Inquiry (NOI) seeking comments on how to address any potential double recovery that may result from the agency’s current income tax...more

IRS Issues Welcome Guidance on “Continuity Safe Harbor” for Wind Energy Projects

New rules provide wind developers with additional time to satisfy a critical safe harbor. On December 15, 2016, the Internal Revenue Service (IRS) issued Notice 2017-4, which modifies the “continuity safe harbor” as set...more

Renewable Energy Investor Group Asks FERC to Designate Certain Passive Equity Interests in Public Utilities as “Non-Voting...

On December 9, 2016, a group of investors in renewable energy projects (“Petitioners”) asked the Federal Energy Regulatory Commission (FERC) to find that certain non-managing (i.e., passive) “tax equity” interests in public...more

IRS Updates “Beginning of Construction” Guidance

The IRS today issued highly anticipated guidance updating the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code (the Code) and the investment tax credit...more

How Election Results Will Impact North Carolina Businesses

After a lengthy and contentious campaign, voters have chosen new leaders for our nation and state. Those choices could impact North Carolina businesses in a number of significant ways....more

1603 Cash Grant Applications Underpaid

On October 31, 2016, the Federal Court of Claims ruled that the U.S. Department of the Treasury underpaid 1603 cash grant applications made in respect of the Alta Wind Energy Center by approximately $206 million. The...more

Alta Wind Wins Cash Grant Dispute in Court of Federal Claims – Awarded US$206 Million

Favorable decision clarifies the value of cash grants and investment tax credits for renewable energy projects. A large wind developer won a significant victory in the Court of Federal Claims on October 28 in a case that...more

[Webinar] Post-Election Webinar - November 9th - 11:00a.m. EST

As the dust settles after the presidential candidates’ first debate, BakerHostetler’s Federal Policy team continues to analyze the impact of the 2016 election on federal policy issues. After all the votes are counted, please...more

Development of court practice regarding property tax on energy-efficient buildings

On 16 September 2016 the Commercial Court of Kemerovo Region delivered a decision in case No. A27-13534/2016. In the context of the case, the court considered a dispute between OOO Novostroy and the Federal Tax Service...more

Global Tax News: Hard times in the oil patch: tax implications for investors in the era of price fluctuations

The current decline in oil prices, which continues to show no signs of a long-term reversal, is having a great many unexpected and unwanted consequences, many of which may turn into long-lasting troubles for the oil and gas...more

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