Tax Environmental Construction

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Seeing Green: New York’s Reformed Brownfields Cleanup Program Creates Opportunities for Redevelopment to Generate Refundable Tax...

Now is the time to begin brownfield redevelopment projects in the State of New York. Reauthorization of and reforms to New York’s Brownfields Cleanup Program, which provides tax credits to redevelop contaminated properties,...more

IRS Confirms that Flip Partnership Guidelines Do Not Apply to Solar Projects

The IRS has advised that the flip partnership guidelines under Rev. Proc. 2007-65, 2007-2 C.B. 967, do not apply to solar facilities or other projects claiming the Section 48 investment tax credit (ITC). The statement, made...more

Tax Day Update: 2015 Inflation Adjustments and Prices for Energy Credits Released by IRS

Just in time for tax day – but 14 days behind the Congressional deadline – the IRS released the statutorily required calculations to determine the value of the Section 45 Production Tax Credit (“PTC”) credit amount in 2015,...more

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

The Internal Revenue Service (IRS) issued Notice 2015-25 (Notice) on March 11, 2015, to provide further guidance on meeting the beginning of construction requirements for wind and other qualified facilities (biomass,...more

Are You Continuing Construction? IRS Issues Fourth Renewable Energy Tax Credit Beginning of Construction Notice

On March 11, 2015, the Internal Revenue Service (IRS) issued Notice 2015-25, which provides further guidance to assist renewable energy facility developers and investors in evaluating whether such facilities satisfied the...more

IRS Issues Notice 2015-25 Extending Safe Harbor for Continuous Construction in Order to Take Advantage of Renewable Energy Tax...

Thursday, the IRS issued Notice 2015-25, which updates the guidance in Notices 2013-29, 2013-60, and 2014-46. These Notices provide that a taxpayer can show that it has “begun construction” of its qualified renewable energy...more

IRS Extends Safe Harbor for Completion of PTC-Qualifying Facilities to Jan. 2017

Yesterday, March 11, 2015, the Internal Revenue Service issued Notice 2015-25, which extends by one year certain tests taxpayers can use to establish that a qualifying renewable energy facility is eligible for the production...more

IRS Extends Continuous Construction/Continuous Efforts Safe Harbors for Production Tax Credit/Investment Tax Credit Qualification

Production tax credits (“PTCs”) are available for wind, biomass, geothermal, landfill gas, trash, hydropower, and marine and hydrokinetic facilities, if construction of the facility began before January 1, 2015....more

The Shale Play Today - February 2015

In This Issue: - Now is the WOTUS of Our Discontent.....: "Waters of the United States" or "WOTUS" in the esoteric taxonomy of the Clean Water Act ("CWA"), is a term with which many are becoming increasingly...more

Key Energy-Related Tax Provisions in the 2016 Budget Proposal

In This Issue: - Modify and Permanently Extend the Production Tax Credit - Enhance and Make Permanent the Research and Experimentation Tax Credit - Provide Carbon Dioxide Investment and Sequestration Tax...more

Senate Approves Energy Tax Extenders

On Tuesday, December 16, 2014, the U.S. Senate passed the tax extenders bill by a vote of 76-16, extending a number of energy tax incentives through the end of the year. The Senate’s passage of H.R. 5771 followed the U.S....more

Senate Passes PTC Extension for 2014

The Tax Increase Prevention Act of 2014, H.R. 5771, was passed by the Senate on December 16 and by the House on December 3. The President is expected to sign the bill in the coming days. ...more

Turning Manure into megawatts (Swine Farm Biogas Renewable Energy Project)

As I noted in my last post, Withers & Ravenel’s Swine Farm Biogas Renewable Energy Project, located in Bladensboro, North Carolina, is one of this year’s ACEC Excellence in Engineering Award winners....more

House Passes PTC Extension through End of 2014

Today, the House passed H.R. 5771. To become law, H.R. 5571 must still pass the Senate and be signed by the President. We expect both of those steps will occur by the end of the year....more

FAQs Expiration of 30 Percent ITC After 2016

Some industry participants and observers are confused about what the investment tax credit (ITC) rules for solar will be on January 1, 2017. In an effort to provide some clarity to this issue, below are frequently asked...more

Goodwin Procter and Boston Bar Association Host “Gaming in Massachusetts: Where Do We Go From Here?” Expert Panel

Just nine days after Massachusetts voters overwhelmingly supported a future for gaming in Massachusetts by rejecting an effort to repeal the state’s casino law, Goodwin Procter’s Gaming and Gambling Practice co-hosted an...more

CRS Report on the Production Tax Credit

On October 2, the Congressional Research Service (CRS) published an overview of the production tax credit (PTC). The report is available below. It contains a helpful summary of the history of the PTC and an insightful...more

Senate Finance Committee Holds Hearing on Energy Tax Reform

Tax reform has been a hot topic as of late, particularly for the energy sector. On September 17, 2014, the Senate Finance Committee continued the focus on energy tax reform by holding a hearing on “Reforming America’s...more

IRS Clarifies and Expands "Beginning Construction" Tests for Production Tax Credit and Investment Tax Credit

In 2013, the Internal Revenue Service established two “beginning construction” tests – a physical work test and a 5% safe harbor test – to determine eligibility for the production tax credit (PTC) and investment tax credit...more

IRS Releases New Guidance on Beginning of Construction

The IRS recently released Notice 2014-46 (the Notice) which provides welcome guidance to tax equity investors and developers on the construction of wind, geothermal, biomass, landfill gas and certain hydropower and marine...more

IRS Comments on its PTC Start of Construction Guidance

On August 20, the American Wind Energy Association (AWEA) held a webinar to discuss Internal Revenue Service (IRS) Notice 2014-46, which clarified the rules for wind projects to be grandfathered for production tax credit...more

Notice 2014-46 Provides Additional Guidance on Eligibility of Wind and Other Renewable Energy Facilities for the PTC or the ITC

On August 8, 2014, the Internal Revenue Service (IRS) released Notice 2014-46 (the “Notice”), which provides some important clarifications with respect to the requirement that construction of a project commence prior to...more

IRS Notice 2014-46 clarifies guidance for Production Tax Credits and Investment Tax Credits

The American Taxpayer Relief Act of 2012 modified the definition of certain “qualified facilities” under Section 45(d) of the Internal Revenue Code to require that the construction of such facilities must begin prior to...more

IRS Releases New Guidance on Beginning of Construction - Aug 2014

On August 8, 2014, the Internal Revenue Service (“IRS”) issued Notice 2014-46 (the “Notice”), which clarified certain aspects of the beginning of construction requirement that must be satisfied for taxpayers to qualify for...more

IRS Issues Additional Guidance with Respect to 2013 Beginning of Construction Rules for Wind and Other Renewable Projects

The Internal Revenue Service (Service) issued Notice 2014-46 (Notice) on August 8, 2014, to provide further guidance on meeting the beginning of construction requirements for wind and other qualified facilities (biomass,...more

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