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The Department of Treasury Releases Direct Pay Guidance on Clean Energy Tax Credits

Final Rules Address Eligibility and Process; Proposed Rules Provide Workaround Allowing Tax Exempts to Partner With Others on Projects - The Department of Treasury (Treasury) and the Internal Revenue Service (IRS) recently...more

Washington's Capital Gains Tax Upheld

On Friday, 24 March 2023, the Washington Supreme Court upheld the state’s capital gains tax (the WA CGT) in a 7–2 decision, bringing an end to months of uncertainty as a suit to challenge the new tax worked its way through...more

ESG and the Sustainable Economy Handbook - Overview

Environmental, social, and governance (ESG) and the sustainable economy are concepts that often overlap and frequently intertwine. Whether viewed separately or together, they have significantly changed global investing and...more

Energy Storage Handbook 2022

The K&L Gates Power practice is pleased to present the latest edition of the Energy Storage Handbook. This handbook is an annually updated primer on what energy storage is, how it is regulated by U.S. federal and state...more

ESG and the Sustainable Economy Handbook - Perspectives in ESG and Sustainable Investment

Environmental, social, and governance (ESG) and the sustainable economy are concepts that often overlap and frequently intertwine. Whether viewed separately or together, they have significantly changed global investing and...more

New Washington State Nonprofit Corporation Act Revitalizes Law Governing Nonprofit Corporations

Effective for most purposes on 1 January 2022, a new state law overhauls and reforms the governance landscape for nonprofit corporations in the state of Washington. Replacing existing Chapter 24.03 RCW (the “Current Act”) in...more

Washington State Legislature Passes Capital Gains Tax Bill

On 4 May 2021, Governor Inslee signed Engrossed Substitute Senate Bill 5096 (the Act), establishing a state-level tax on long-term capital gains for Washingtonians, beginning 1 January 2022....more

Energy Storage Handbook Vol. 6

As a courtesy to our clients and friends, the K&L Gates Power practice has updated the Energy Storage Handbook. This Energy Storage Handbook is designed to be a basic primer on what energy storage is, how federal and state...more

IRS Issues Section 1061 Proposed Regulations

Prior to 2017 Tax Cuts and Jobs Act (TCJA), private equity fund, hedge fund, and other investment fund or asset managers that received an interest in an entity taxed as a partnership for U.S. federal income tax purposes (a...more

Motivations & Models for Health Systems Forming Captive Venture Capital Funds

In the context of a rapidly evolving health care industry, there is a growing trend for health systems to establish and experiment with their own captive venture capital investment funds as an adjunct to more traditional...more

6/18/2020  /  Venture Capital

Investments in Opportunity Zones: 2019 Seattle Investment Management Conference

OUR AGENDA - - Why you need to know about Opportunity Zones - What you need to know about Opportunity Zones after two rounds of regulations - Policy - Definitions - Mechanics - What kinds of deals are we seeing? Structuring...more

Energy Storage Handbook Vol. 5

The power practice has designed the Energy Storage Handbook to be a basic primer on what energy storage is, how it is regulated by federal and state governments, and what sorts of issues are encountered when such projects are...more

Energy Storage Handbook Vol. 4

The power practice has updated the popular resource, the Energy Storage Handbook. This Energy Storage Handbook (Handbook) is designed to be a basic primer on what energy storage is, how it is regulated by federal and state...more

Proposed Regulations Provide Welcome Guidance for 20% Pass-Through Deduction

Among the more noteworthy changes made by the Tax Cuts and Jobs Act of 2017 was the creation of Code Section 199A, which grants a deduction to owners of certain pass-through businesses (i.e., sole proprietorships,...more

IRS Notice 2018-59 Clarifies Rules on Beginning of Construction of Solar Facilities to Qualify for the Investment Tax Credit

On June 22, 2018, the U.S. Department of the Treasury (“Treasury”) issued Notice 2018-59 (the “Notice”), which deals with the “begin construction” test that is applicable to solar projects....more

Energy Storage Handbook Vol. 2

Designed as a basic primer on what energy storage is, how it is regulated and what sorts of issues are encountered when such projects are financed and developed, the Handbook is intended to highlight the most common...more

What Do You Think About…Deemed Repatriation?

The tax reform bill signed into law by President Trump on December 22, 2017, taxes U.S. shareholders on their share of the previously untaxed deferred income of foreign corporations. Known as “deemed repatriation,” this tax...more

Disposition of a Partnership Interest Now Subject to Tax Withholding

The new Tax Cut and Jobs Act of 2017 (the “Act”) contains a provision that is of great importance to any persons buying or selling an interest in a partnership. New Section 864(c)(8) of the U.S. Internal Revenue Code (the...more

Tax Reform and Investment Management: Certain International Provisions

In addition to the very significant changes to the domestic provisions of the Internal Revenue Code (the “Code”), the Tax Cut and Jobs Act (the “Act”) made very significant changes to the taxation of foreign income of U.S....more

Tax Reform and Investment Management: Initial Observations

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (the “Act”). While the Act will impact many types of taxpayers, some of the more significant changes are relevant to private funds, investment advisers,...more

Just-Passed Tax Cuts and Jobs Act Will Significantly Impact Higher Education

House and Senate Republicans passed a comprehensive tax reform bill on December 20, 2017 that makes sweeping changes throughout the Internal Revenue Code affecting many educational institutions, as well as most individuals...more

Senate’s Version of the “Tax Cuts and Jobs Act” Is Good News for Energy Renewables

On November 2, 2017, we alerted taxpayers that the House Ways and Means Committee had unveiled its much anticipated tax reform bill titled the “Tax Cuts and Jobs Act” (the “House Plan”). The House Plan includes substantial...more

GOP’s “Tax Cuts and Jobs Act” Trims Renewable Energy and Other Tax Credits

On November 2, 2017, the House Ways and Means Committee unveiled its much anticipated tax reform bill titled the “Tax Cuts and Jobs Act” (the “House Plan”). The House Plan is a significant step by Republican lawmakers to...more

Energy Storage Handbook

As of today, approximately 800 MW of advanced energy storage technologies have been deployed in the United States, with nearly all of that capacity coming online in the last decade. New technologies, use cases, and...more

Treasury Guidance Clarifies and (Again) Expands Field of Renewable Energy Projects That May Qualify for the PTC or ITC

Notice 2017-04, issued on December 15, 2016, clarifies and expands the beginning of construction and continuity safe harbors applicable to certain alternative energy projects, including wind installations. Like Notice...more

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