News & Analysis as of

Investment Tax Credits

A Comparison of the Energy Tax Changes in the Proposed House and Senate Tax Reform Bills

On November 9, 2017, the Senate Finance Committee released a Description of the Chairman’s Mark of the “Tax Cuts and Jobs Act” and on November 14, 2017, the Senate Finance Committee released a Description of the Chairman’s...more

House and Senate Tax Reform Proposals Diverge on Energy Provisions

by 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

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

by K&L Gates LLP on

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

The Impact On U.S. Corporations If The House's "Tax Cuts And Jobs Act" Passes

We drafted a tax alert that addresses the impact of the much anticipated "Tax Cut and Jobs Act" (H.R. 1) on the taxation of U.S. Corporations. The complete text of the alert is available here. Below is a brief summary of H.R....more

The International Tax Impact Of The 2017 Tax Cuts And Jobs Act

We drafted a tax alert that addresses the impact of the much anticipated "Tax Cut and Jobs Act" (H.R. 1) on the international corporate tax landscape. ...more

Impact of the House Tax Reform Bill on the Renewable Energy Sector

by Latham & Watkins LLP on

Bold proposal seeks changes to tax credits, depreciation, and corporate tax rates. Key Points: - Production Tax Credits are cut by more than one-third. - Bill may impact existing and future tax equity...more

Tax Reform Bill Released

by Stoel Rives LLP on

Republican leaders yesterday released their comprehensive tax reform bill, the “Tax Cuts and Jobs Act.” Although there has been a great deal of high-level discussion over the past few months regarding various tax reform...more

Tax Reform Bill Limits Renewable Energy Credits

by Stoel Rives LLP on

The much anticipated tax reform bill released today by the Republican leadership in the House would make several potentially significant changes to certain energy tax provisions. These would include changes to the Production...more

Kentucky’s Limited Renewable Energy Incentives

by Dickinson Wright on

In August 2007, Kentucky enacted the Incentives for Energy Independence Act (IEIA) program (KRS 154.27-010 through 154.27-090). As with any Kentucky administered tax incentive programs, the inducements under the IEIA are...more

GOP Tax Bill Proposes Changes to the Renewable Energy Industry’s Tax Incentives

On Thursday, November 2, Republicans in the US House of Representatives released their proposed tax reform legislation, providing for massive alterations to tax law. The proposed legislation would trim tax benefits applicable...more

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

by K&L Gates LLP on

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

House Republican Tax Reform Bill Retains and Modifies Energy Credits

by Shearman & Sterling LLP on

On November 2, 2017, the House Republicans released their plan for comprehensive tax reform, the “Tax Cuts and Jobs Act of 2017” (H.R. 1) (the “Tax Reform Bill”). Prior to this release, Congressional Republicans and the Trump...more

The IRS Continues Providing Normalization Guidance - This Time on Both the Consistency and Proration Rules  

On October 13, 2017, the Internal Revenue Service (IRS) issued two private letter rulings (PLR 201741004 and PLR 201741005) that provide further guidance on applying the normalization consistency rules to the inclusion of...more

Illinois Power Agency Estimates More Than $650 Million Available for Renewable Energy Credit Purchases from New Projects Through...

by Bryan Cave on

On September 29, 2017, the Illinois Power Agency (IPA) released for public comment its initial draft Long Term Renewable Resources Procurement Plan (LTRRP) for Renewable Energy Credits (RECs) pursuant to the Illinois Future...more

Currents - Energy Industry Insights - October 2017 #3

Department of Interior Rescinds OSM Enforcement Policies - On October 12, 2017, the Department of the Interior ("DOI") withdrew two prior Office of Surface Mining ("OSM") policies affecting mining operations. DOI rescinded...more

IRS Ruling Provides Helpful Guidance on Normalization Proration Rules 

On September 29, 2017, the IRS issued a private letter ruling (PLR 201739001) providing helpful guidance on the application of normalization proration rules for the calculation of accumulated deferred federal income taxes...more

IRS Provides Safe Harbor for Inadvertent Normalization Violations

On September 7, 2017, the IRS issued Revenue Procedure 2017-47, which provides a safe harbor for regulated public utilities for inadvertent or unintentional uses of a practice or procedure that is inconsistent with the...more

Energy Independence in the Age of Renewables

by Foley & Lardner LLP on

Facing the traditional energy sector’s uncertain future and the decreased cost of producing renewable energy, many companies have taken to generating their own power. Manufacturers may be in an ideal position to do the same...more

Update on US Federal Tax Reform Proposals and Their Effect on the Renewable Energy Industry

by Shearman & Sterling LLP on

While tax reform has been a stated focus of the Trump administration and Congress, details remain elusive. The administration has recently reaffirmed its desire to enact comprehensive corporate and individual tax reform, but...more

Wind in the Sails of Offshore Wind Farms: Recent Developments in Incentives for Offshore Wind Generation

On May 11, 2017, Senators Edward J. Markey (D-Mass.) and Sheldon Whitehouse (D-R.I.) introduced the Offshore Wind Incentives for New Development Act or, simply, the Offshore WIND Act (here). The Offshore WIND Act would...more

Recent Amendments to the Alberta Investor Tax Credit Program

by Dentons on

The Government of Alberta recently passed Order in Council 135/2017 (the Recent Amendments) which amends the Alberta Investor Tax Credits Regulation (the Regulations) and makes the Alberta Investor Tax Credit (AITC) program...more

MoFo New York Tax Insights - Volume 8, Issue 5

by Morrison & Foerster LLP on

Final 2017-18 New York State Budget Bill Enacted - The New York State Budget Bill was enacted by the New York State Legislature and signed into law by Governor Andrew M. Cuomo. S. 2009-C, A. 3009-C. Among the Governor’s...more

President’s Infrastructure Plan Will Present Opportunities, Face Challenges

Rebuilding America’s aging infrastructure is one task that most economists and civil engineers, and most Americans, agree should be at or near the top of President Donald Trump’s agenda. President Trump touted his background...more

Hodgson Russ LLP’s Report on the 2017-18 New York State Budget

by Hodgson Russ LLP on

On April 10th, the New York State budget for 2017-18 was signed into law. The highlights of the revenue provisions are summarized below....more

HB 2946 – The New and Improved Illinois Angel Investment Tax Credit Program

by Freeborn & Peters LLP on

For those who don’t know, Illinois has had an “Angel Investment” program since 2012 where investors who invested in qualifying companies would receive a 25% tax credit against their Illinois income taxes. Sounds great in...more

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