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Effect of stimulus bill on renewable energy projects

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

The renewable energy market relies on tax credits to help generate competitive returns

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 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

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

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

Treasury Department issues guidance on electing cash grants in lieu of production or investment tax credits

  • Reed Smith LLP
  • -
  • USA
  • -
  • July 14 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

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 application process for tax credits for manufacturers of renewable energy property

  • Reed Smith LLP
  • -
  • USA
  • -
  • August 18 2009

The American Recovery and Reinvestment Act of 2009 (the "Recovery Act") included a number of significant new tax incentives for businesses engaged in the renewable energy market

IRS modifies safe harbor rules for renewable energy projects utilizing partnership flip structure

  • Reed Smith LLP
  • -
  • USA
  • -
  • September 23 2009

On September 21, 2009, the Internal Revenue Service ("IRS") issued Announcement 2009-69, which modifies the safe harbor rules for partnership flip transactions, a common method of structuring investments in the renewable energy market

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