News & Analysis as of

Electric Vehicles Income Taxes

McDermott Will & Emery

Weekly IRS Roundup November 13 – November 17, 2023

McDermott Will & Emery on

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 13, 2023 – November 17, 2023. ...more

Bowditch & Dewey

Tax Credit for Electric Vehicles Purchased in 2023 and Later – Does Your New Vehicle Qualify?

Bowditch & Dewey on

Despite the predictions and media attention, electric vehicles (EV) accounted for only 5.7% of all automobiles purchased in the United States in 2022. Globally, EV sales rose to 14% in 2022....more

Mayer Brown

US Treasury Issues Proposed Regulations on Section 30D Clean Vehicle Credit

Mayer Brown on

Electric vehicle and electric battery manufacturers and critical mineral producers will want to take note of a notice of proposed rulemaking (NPRM) on Section 30D of the Internal Revenue Code of 1986, as amended, released by...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Jan. 3, 2023

Legislative Lowdown - Lawmakers Look to 2023 for Tax Priorities Following Omnibus Passage. On Dec. 29, President Joe Biden signed the nearly $1.7 trillion Consolidated Appropriations Act of 2022 into law, funding the...more

Morgan Lewis - Power & Pipes

IRS and Treasury Ring in New Year With Flurry of EV Tax Credit Issuances

Many people spent the last week of 2022 celebrating holidays or seeking travel adventures both far and near. However, a select group of personnel at the US Internal Revenue Service (IRS) and Department of the Treasury opted...more

Katten Muchin Rosenman LLP

Treasury Releases Guidance on Electric Vehicle Tax Credits

On December 29, 2022, the US Treasury Department and the Internal Revenue Service (IRS) released guidance relating to the electric vehicle (EV) tax credit provisions of the Inflation Reduction Act of 2022, Public Law 117-169...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Dec. 6, 2022

Legislative Lowdown - Last-Minute Attempt to Revive Permitting Legislation. According to sources familiar with the matter, several moderate lawmakers from both parties are pushing to include energy-permitting reform...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report — Legislative Day 15 2022

The General Assembly took a half day on Friday after a full week of floor debates and committee proceedings. Although the House and Senate addressed a collective six measures on their floors, legislators made quick work of...more

Roetzel & Andress

House Passes Build Back Better Act

Roetzel & Andress on

Early Friday morning, the U.S. House of Representatives approved President Biden’s sweeping social and climate spending proposal known as the Build Back Better Framework. Key provisions in the approximately $2 trillion bill...more

Mayer Brown

Energy Tax Implications of New Infrastructure and Tax Plans

Mayer Brown on

The American Jobs Plan - On March 31, 2021, the Biden administration released the American Jobs Plan (the “Infrastructure Plan”), which is a proposal that, if ultimately enacted, aims to modernize outdated infrastructure,...more

Bennett Jones LLP

Further Business Tax Perks for Zero-Emission Vehicles

Bennett Jones LLP on

The Government of Canada has introduced a temporary enhanced first-year capital cost allowance (CCA) rate of 100% in respect of eligible zero-emission vehicles (ZEVs) and equipment. Businesses will initially be able to access...more

Holland & Hart LLP

Utah Legislative Update: January 2020

Holland & Hart LLP on

Traditionally in Utah, the Governor presents a budget and policy objectives to the Legislature in early December. However, due to a December 2019 Special Session in which a significant tax reform bill was passed, Governor...more

Holland & Knight LLP

House and Senate Tax Reform Proposals Diverge on Energy Provisions

Holland & Knight LLP on

On November 2, House Republicans introduced H.R. 1, the Tax Cuts and Jobs Act. Senate Republicans followed suit shortly thereafter, releasing their proposal on November 9. The House Ways & Means Committee concluded its markup...more

Robinson & Cole LLP

Green Tax Incentive Compendium - July 2016

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

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