07Aug
Viewing Notice 2020-12 Through the Lens of Notice 2013-29 and Notice 2018-59: How is “Beginning of Construction” Guidance for Section 45Q Carbon Capture Credit Projects Different from Wind and Solar Precedents?
In February 2020, the IRS issued Notice 2020-12, which provides long-awaited guidance on when a “qualified facility” or carbon capture equipment, in each case within the meaning of section 45Q, is considered to have “begun construction.” This question is of paramount significance because section 45Q allows a carbon capture credit for carbon oxide that is captured using carbon capture equipment that is originally placed in service at a qualified facility, and a qualified facility means an...
By:
Mintz - Energy & Sustainability Viewpoints
Source Url: https://www.jdsupra.com/legalnews/viewing-notice-2020-12-through-the-lens-66014/
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