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Results: 1-10 of 20

Treasury Department issues surprising new guidance allowing cash grants in connection with leases of renewable energy property to tax-exempt entities

  • Reed Smith LLP
  • -
  • USA
  • -
  • February 11 2010

The Treasury Department recently issued additional guidance (the "Guidance") that permits the owner of renewable energy property to qualify for a cash grant under section 1603 of the American Recovery and Reinvestment Act of 2009 (the "Cash Grant"), even if the property is leased to a tax-exempt entity such as a hospital or a municipality

Technical tax flaw may be preventing the Recovery Act from accomplishing its objective in the marketplace

  • Reed Smith LLP
  • -
  • USA
  • -
  • May 13 2009

Reed Smith's renewable energy practice group recently submitted a proposal to the Obama administration that is designed to increase the pool of potential tax equity investors for renewable energy clients

New incentivized sales tax exemption for renewable energy development in Nebraska

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 5 2013

On June 4, 2013, Nebraska Governor Dave Heineman signed into law a bill (LB104) designed to incentivize the development of renewable energy in the

A taxing situation: Pennsylvania realty transfer taxes & oil and gas conveyances

  • Reed Smith LLP
  • -
  • USA
  • -
  • March 4 2014

Conveying oil and gas interests in Pennsylvania raises the question as to whether the document conveying the interest is subject to realty transfer

Marcellus Shale tax update sales and use tax

  • Reed Smith LLP
  • -
  • USA
  • -
  • January 24 2013

The Pennsylvania Department of Revenue has taken the position that certain equipment used in Pennsylvania fracking operations is subject to sales tax

IRS establishes safe harbor for Section 45 credits claimed by partners of wind energy partnerships

  • Reed Smith LLP
  • -
  • USA
  • -
  • October 24 2007

On October 19, 2007, the IRS released Revenue Procedure 2007-65, which establishes safe harbor rules under which the IRS will respect the allocation of Section 45 wind energy production tax credits among the partners of a partnership that owns a qualified wind energy facility

Proposed legislation would provide exemption from passive activity limitations for qualified wind facilities, extend cash grants in lieu of tax credits

  • Reed Smith LLP
  • -
  • USA
  • -
  • July 28 2009

Legislation is currently pending before the House Ways and Means Committee which would provide a partial fix to a technical tax flaw that is limiting investment in the renewable energy sector, notwithstanding provisions enacted as part of the American Recovery and Reinvestment Act of 2009 (the "Recovery Act") to encourage such investment

IRS issues guidance on electing investment tax credits in lieu of production tax credits; guidance regarding cash grants expected in July

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 10 2009

The American Recovery and Reinvestment Act of 2009 (the "Recovery Act") included a number of significant changes affecting businesses engaged in the renewable energy market

Illinois Supreme Court closes the circuit and zaps two tax codes

  • Reed Smith LLP
  • -
  • USA
  • -
  • February 24 2009

On February 20, 2009, the Illinois Supreme Court ruled that for purposes of the Investment Tax Credit ('ITC') against the Illinois Personal Property Replacement Income Tax, a sale of electricity is a sale of tangible personal property

Marcellus Shale-related bills introduced in Pennsylvania in 2011

  • Reed Smith LLP
  • -
  • USA
  • -
  • March 3 2011

Several new Marcellus Shale-related bills have been introduced in the Pennsylvania Senate and House of Representatives since the start of 2011