Starting in 2026, large companies doing business in California need to comply with new climate change-related disclosure requirements described in two separate bills (S.B. 253 - Climate Corporate Data Accountability Act...more
On January 6, 2021, the IRS issued final regulations relating to section 45Q. This is the fourth piece of guidance from the IRS relating to section 45Q, following IRS Notice 2020-12, Revenue Procedure 2020-12, the Proposed...more
1/29/2021
/ Carbon Capture and Sequestration ,
Carbon Emissions ,
Critical Infrastructure Sectors ,
Energy Projects ,
Greenhouse Gas Emissions ,
Internal Revenue Code (IRC) ,
IRS ,
Production Tax Credit ,
Tax Credits ,
Tax Planning ,
Urban Planning & Development
The IRS issued guidance in February 2020 for the Section 45Q tax credit program, which is aimed at supporting carbon capture and sequestration. The guidance reflected comments received by the IRS in response to Notice...more
On May 2, 2019, the Internal Revenue Service ( the “IRS”) released Notice 2019-32 (the “Notice”) which requested comments for Carbon Oxide Sequestration Section 45Q of the Internal Revenue Code....more
Last week, we wrote about the Supreme Court's unprecedented issuance of a stay prohibiting the implementation of the "Clean Power Plan" while a judicial challenge to the Plan is pending. The extraordinary stay decision...more
In a highly unusual action, the United States Supreme Court yesterday issued a stay prohibiting the implementation of the "Clean Power Plan," a final regulation issued by the U.S. Environmental Protection Agency ("EPA") on...more