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Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.

Payments Clause in City Contract Deemed Unconstitutional When it Suspends the City’s Ability to Tax

by Low, Ball & Lynch on

Russell City Energy Co. LLC v. City of Hayward - Court of Appeal, First District (August 7, 2017) - In Russell City Energy Co. LLC v. City of Hayward, the California Court of Appeals held that a payments clause in a...more

New Property Tax Exemption for All South Carolina Manufacturers

by McNair Law Firm, P.A. on

The South Carolina Infrastructure and Economic Development Reform Act, 2017 Act 40, was recently enacted and is designed to enhance South Carolina’s economic competitiveness. The Act, commonly referred to as the gas tax bill,...more

Land Owners Could Be Paying Proposed Severance Tax

by Barley Snyder on

Whether or not the latest natural gas severance tax proposal gets passed into law in Pennsylvania, House Bill 542 contains some interesting language land owners who have signed lease agreements with energy companies need to...more

Under the Dome: Inside the Maine State House

by Pierce Atwood LLP on

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Legislature Met on July 20 to Consider Bond Bills, Items from Special Appropriations Table - After...more

Hogan Lovells China Desk Brochure

by Hogan Lovells on

A bridge between China and Europe, the Middle East and Africa - The Hogan Lovells China Desk seeks to help you benefit from the opportunities arising from the evergrowing economic ties between the EMEA region and China....more

Boletín Mensual de Comercio Internacional: Abril - Información con énfasis en la Regulación Comercial y de Arbitraje Internacional

by Holland & Knight LLP on

Durante el mes de abril destacan los siguientes temas: Comercio, Acceso, Propiedad Intelectual, Competencia Económica, Arbitraje...more

Debt Dialogue: April 2017 - The ‘Commercially Reasonable Efforts’ Standard as Defined by the Delaware Supreme Court

In its recent decision in The Williams Cos., Inc. v. Energy Transfer Equity, L.P., et al., the Delaware Supreme Court offered guidance on the interpretation of the “commercially reasonable efforts” standard in a merger...more

Senegal's New Mining Code

by DLA Piper on

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

The U.S. Tax Reform and the Energy Sector

by Hogan Lovells on

President Donald Trump and Republican Congressional leaders have promised a major reform to the U.S. tax code in 2017. This reform, if anything close to these promises, will have significant implications for the energy...more

IRS Issues Guidance on Tax Treatment of Energy Savings Performance Contracts

by McDermott Will & Emery on

On January 19, 2017, the Internal Revenue Service (IRS) issued Rev. Proc. 2017-19, 2016-6 I.R.B. (the Rev. Proc.), providing a safe harbor under which it will not challenge the tax treatment of an Energy Savings Performance...more

2016 – A Bad Year For Bad Guys in Energy

by Gray Reed & McGraw on

Let’s look back at a cavalcade of crooks, criminals and miscreants who met up with justice in 2016. We do it to be reminded of the others who will be lurking in the 2017 shadows....more

Trump Risk Factors Begin to Appear in SEC Documents

Risk factors related to uncertainties resulting from possible policies that may be implemented by President-elect Trump have begun to appear in SEC filings...more

Act Now To Preserve Your Section 1603 Grant

by McDermott Will & Emery on

In Depth - We recently reported that on October 31, 2016, the US Court of Federal Claims issued its opinion in Alta Wind I Owner v. United States, in which the court determined that the value of the property eligible for...more

Trends and Tips – Tax Equity for Mid-Market Energy Projects

Last week’s “Financing Renewable Energy” tax credit conference, by Novogradac and Company, affirmed some market trends that we have seen in recent project finance deals. Perhaps most striking was the slow expansion of small...more

The Unwind: ‘I Don’t Want It’

In the inaugural column of ‘‘Power and Taxes,’’ we discussed the tensions surrounding the requirement that an investor be an owner when a project is placed in service in order to qualify for the investment tax credit under...more

Final Regulations Define “Real Property” for REITs: Considerations for Renewable Energy and Transmission Assets

by McDermott Will & Emery on

The recently released final regulations are generally consistent with the 2014 proposed regulations in their treatment of renewable energy and transmission assets, with several useful clarifications provided. ...more

DC Circuit Ruling Threatens to Topple FERC Tax Allowance Policy

by Morgan Lewis on

Court rules that FERC policy permitting a tax allowance for pass-through entities may unjustifiably permit “double-recovery” of tax expense. On July 1, the US Court of Appeals for the District of Columbia Circuit issued...more

Sales Tax Exemption for Manufacturing Held Inapplicable for Oil and Gas Equipment, but Questions Remain

by Bracewell LLP on

Southwest Royalties, Inc. v. Hegar, No. 14-0743 (Tex. June 17, 2016)(“Southwest”), addresses the applicability of a sales tax exemption for property sold for use in manufacturing in the context of oil and gas production....more

Green Tax Incentive Compendium

by Robinson & Cole LLP on

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

CAISO Tariff Changes Facilitate Participation of Small Renewable and Storage Technologies in California Energy Markets

On June 2, 2016, FERC approved revisions to the California Independent System Operator's open access transmission tariff that facilitate the participation of small, distribution level energy generation, storage and...more

2016 Oklahoma Tax Legislation

by GableGotwals on

Investment/New Jobs Credit, $25 Million Cap, 2016-2018. The income tax credit for investment in manufacturing facilities or increasing jobs was amended to provide that for tax years beginning on or after January 1, 2016, and...more

Energy Tax Law Alert: IRS Rules That Payment for Intertie Constitutes Taxable Contribution in Aid of Construction

by Stoel Rives LLP on

The IRS has issued a private letter ruling concluding that the reimbursement by a solar electric generator of an electric distribution company’s costs to construct an intertie is a contribution in aid of construction under...more

Navigant’s Consulting’s Report on Residential Solar Misconstrues Value of Tax Attributes

Navigant Consulting on February 19 submitted a report, Solar Project Return Analysis for Third Party Owned Solar Systems, to the Arizona Public Service (APS). The thesis of the report is that residential solar developers are...more

Paris Energy Series No.10: The Paris Agreement on Climate Change: Beware the Shield?

by White & Case LLP on

Arbitral Implications for the Oil and Gas Sector - On 12 December 2015, the Paris Agreement (or the "Agreement") on climate change was signed by 195 States and the EU, provoking scenes of euphoria among the delegates...more

Minerals Matters - Winter 2016

by DLA Piper on

Welcome to the latest edition of Minerals Matters and the first one of 2016. Last year was, on the whole, positive for the sector. We had the drama of the UK General Election and the surprisingly decisive outcome which...more

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