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Introduction of the Exploration Development Incentive

In the 2014 Budget, the Federal Government announced that it would introduce Exploration Development Incentive (EDI) tax credits to encourage and stimulate growth in the junior mining industry. This is a simpler approach to...more

Department of Commerce Announces Preliminary Decision to Impose Tariff on Solar Panels Imported From China

Some U.S. solar equipment manufacturers have lauded the Department of Commerce’s recent decision to impose high tariffs on solar panels imported from China as the end of China’s unfair market advantage; however, from the...more

Tennessee – 2014 Legislative Highlights

Effective January 1, 2015, the method of issuing tax assessments and the informal conference process available to taxpayers will be revamped. 2014 Tenn. Pub. Acts 854. Touted as being more taxpayer-friendly, the two most...more

Abengoa Yield PLC Highlights From IPO

Abengoa Yield plc began trading on the NASDAQ on June 13th. The Form F-1 (the equivalent of a form S-1 for a foreign issuer) is available below. The IPO was priced at $29 a share. This was above the expected range of $25 to...more

Energy Newsletter - June 2014

In This Issue: - Drafting Lessons From The "Deliver-Or-Pay Wars" Of The Southern Cone - Flaring Litigation in North Dakota is Capped - Shell Oil Co. v. United States -- A Divided Federal Circuit...more

Focus on Tax Controversy and Litigation - May 2014

In this issue: - Tax Court Rejects Partnerships’ Claim of Attorney-Client Privilege and Orders Release of Opinion Letters - Litigation Heats Up in Section 1603 Cash Grant Program for Renewable Energy Projects...more

Further Clarification On The Constitutionality Of Exported Coal Reclamation Fee Is Delayed

The D.C. Circuit has decided against ruling on the substance of whether the Abandoned Mine Land reclamation fee and the regulatory methods the Office of Surface Mining uses to collect it on exported coal create an...more

Weekly Update from the NC State House - May 2014: After a very busy first two days of session last week, the General Assembly...

Another Hectic Week - After a very busy first two days of session last week, the General Assembly returned to Raleigh this week with a fully packed agenda. Among other things, they took up fracking, regulatory reform,...more

Proposed Regulations Expand Definition Of Real Estate For REITS To Include Solar Sites

In This Issue: - Solar Sites - The Proposed Regulations - Intangible Assets - Distinct Assets - Examples in the Proposed Regulations - Effective Date - Excerpt from Solar Sites: A key...more

Proposed Regulations Address REIT Investments in Solar Facilities

The Internal Revenue Service and the U.S. Department of the Treasury recently issued proposed regulations that may facilitate using real estate investment trusts (REITs) as vehicles for financing certain renewable energy...more

New York State Tax Reform Update

Qualified manufacturers subject to the New York State Business Corporation Tax may now pay no tax on business income earned in New York....more

Proposed Regulations Clarify the Definition of “Real Property” Under the REIT Rules

On May 14, 2014, the Treasury Department published proposed regulations (the “Proposed Regulations”) clarifying the definition of “real property” under the real estate investment trust (“REIT”) rules. The issuance of the...more

IRS Proposes Guidance on Real Property Definition for REIT Purposes

Proposed regulations establish analytical framework for determining whether assets qualify as real property for purposes of the REIT rules. On May 14, 2014, the Internal Revenue Service (IRS) published in the Federal...more

Proposed Rules Would Offer REIT Status to Certain Solar Assets

The modified “flow-through” tax treatment afforded to REITs depends on the entity’s ability to meet certain asset and income-based tests, all of which in turn key off of the definition of “real estate.” ...more

Proposed Regulations Provide Greater Certainty on the REIT Classification of Solar and Other Non-Traditional Assets

The Internal Revenue Service (the “IRS”) and Treasury Department have proposed regulations (the “Proposed Regulations”) under Section 856 of the Internal Revenue Code providing guidance for analyzing whether non-traditional...more

Investing in Georgia: Economic Development Newsletter - May 2014

Welcome to King & Spalding's economic development news bulletin, Investing in Georgia. In this edition, you will find: - Analysis of the issues that will impact midterm elections, as well as a special preview edition...more

Welcome Guidance on the Definition of Real Property for REITs Proposed by IRS

On May 9, 2014, the Department of Treasury and the Internal Revenue Service (the "IRS") released proposed regulations (the "Proposed Regulations") revising and clarifying the definition of real property for the purposes of...more

Australian Tax Update: Australian Budget 2014-2015

2014-2015 Australian Federal Budget - Government takes its first steps of tax reform in preparation for a broader comprehensive review of the Australian taxation system. INTRODUCTION - The Australian Coalition...more

Proposed IRS Rule Could Allow Solar Energy REITs

President Obama announced on Friday several executive actions to advance clean energy. Among them, the Internal Revenue Service (IRS) will publish new regulations on May 14th clarifying that certain solar generating assets...more

Florida Tax Cuts Signed Into Law [Florida]

Gov. Rick Scott signed tax and fee cuts into law on May 11, 2014. The key cuts are: a. three sales tax holidays—one each for hurricane supplies, back to school supplies and energy efficient appliances...more

Biofuels Law Alert: IRS Addresses the Identity of the "Producer" in Contract Manufacturing Arrangements

Last week the IRS released an internal memorandum addressing which of the parties to a contract manufacturing arrangement for biodiesel is treated as the “producer” of the biodiesel for certain federal tax purposes....more

Energy Newsletter - April 2014

In This Issue: - UK Shale Exploitation: Securing Subsurface Access Rights - Taking the Road Best Travelled? CFE seeks electric-gas "convergence" - Pemex Requests Mexico E&P Areas from SENER -...more

Extension of Eight Valuable As-of-Right Incentive Programs Included in New York State's Budget Bill

New laws may benefit developers and businesses with applications long pending and for future applicants that depend on these incentive programs to help induce investment and economic growth in the New York City. These...more

Developers Turn to Tax Opinion Insurance to Solve the “Starting Physical Work of a Significant Nature” PTC Eligibility Issue

Industry reports suggest that three developers have purchased tax opinion insurance to provide financial assurance to tax equity investors that their projects will be production tax credit (“PTC”) eligible. Use of this...more

United States to Participate in New World Trade Organization Trade Negotiation to Lower Tariffs on “Green Goods”

On March 21, the Obama Administration formally notified Congress that it intends to enter into a new plurilateral trade negotiation in the World Trade Organization (WTO) to eliminate tariffs on environmental goods. The...more

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