Treasury Finalizes Carbon Capture Tax Credit Regulations

The US Treasury Department and the IRS provided practical administrative rules for the carbon capture and sequestration tax credit.

Key Points:

..The IRS finalized the third set of rules in a series of regulatory guidance intended to propel the growth of the carbon capture and sequestration industry in the US.

..The rules cover topics of great importance to the industry, including how to comply with the secure geological storage and utilization requirements, how to transfer tax credits from the capturing party to the sequestering party, and the scope of potential tax credit recapture in the event of a leak of carbon oxide.

Please see full Alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Latham & Watkins LLP | Attorney Advertising

Written by:

Latham & Watkins LLP

Latham & Watkins LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.