News & Analysis as of September 26, 2024

Infrastructure

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

FERC Chief Accountant Proposes to Modify Transferability of Income Tax Credits

Troutman Pepper on 9/17/2024

On September 12, 2024, FERC’s Chief Accountant issued a notice of proposed accounting release (“NOPAR”) to modify the transferability of income tax credits (“ITCs”) related to certain energy projects under the Inflation...more

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

K&L Gates LLP on 4/11/2024

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

IRS Issues Final Regulations on Direct Pay

Troutman Pepper on 3/11/2024

On March 5, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) on the elective payment of certain tax credits (direct pay) pursuant to Section 6417 of the...more

Lead Service Lines/Drinking Water: Internal Revenue Service Determination Addressing Exemption of Replacement Cost

Mitchell, Williams, Selig, Gates & Woodyard,... on 3/5/2024

The United States Internal Revenue Service (“IRS”) addressed the federal income tax treatment of certain lead service line replacement programs for residential property owners. See announcement 2024-10....more

US Treasury to Propose Regulations on Energy Community Bonus Adders

Mayer Brown on 4/7/2023

On April 4, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released a notice of intent to issue proposed regulations on qualifying for the energy community bonus credit under Sections...more

Taxation & Representation, January 11, 2022

Brownstein Hyatt Farber Schreck on 2/2/2022

Tax Tidbit - Budget Reconciliation: By the Numbers. Since 1980, Congress has passed 26 budget reconciliation bills, 22 of which have become law. During 11 of those 41 years, Congress did not pass any budget reconciliation...more

One Step Closer to “Building Back” – Where Do Federal Transfer Taxes Stand?

Rivkin Radler LLP on 11/23/2021

Tax the Rich? The President’s plan for a tax regime that would ensure the rich pay their “fair share” of the cost of implementing his programs has come one step closer to being realized . . . maybe . . . well, sort of ....more

Tax Implications of House Passage of the Build Back Better Act

Chambliss, Bahner & Stophel, P.C. on 11/22/2021

This morning, the House of Representatives voted 220 to 213 in favor of passing the Build Back Better Act (the Bill). The Congressional Budget Office estimates the bill will cost almost $1.7 trillion and add $367 billion to...more

Three Things You Need to Know: How Trump’s “Tax Cuts and Jobs Act” Will Impact State Incentives and Project Recruitment - Economic...

Bradley Arant Boult Cummings LLP on 10/3/2018

As you may know, President Trump signed into law the Tax Cuts and Jobs Act (TCJA), enacting broad reforms to the Internal Revenue Code. How your state implements these reforms may have an impact on project recruitment and...more

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