Key Clarifications In IRS Carbon Capture Tax Credit Guidance

By Hunter Johnston, Lisa Zarlenga and John Cobb (February 25, 2020, 5:58 PM EST) -- On Feb. 19, the Internal Revenue Service issued two important pieces of guidance relating to the credit under Section 45Q of the Internal Revenue Code for carbon oxide sequestration, addressing the beginning of construction requirement for qualified facilities or carbon capture equipment and partnership allocations of Section 45Q credits.[1]...

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