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Results: 1-10 of 19

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

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

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

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

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

Another severance tax bill related to Marcellus Shale is proposed in Pennsylvania

  • Reed Smith LLP
  • -
  • USA
  • -
  • March 31 2011

The Marcellus Shale legislative season remains in full bloom as another severance tax bill was introduced in the Pennsylvania General Assembly this week

New analysis of potential jobs and state revenue following a Pennsylvania severance tax on natural gas extraction

  • Reed Smith LLP
  • -
  • USA
  • -
  • September 15 2010

A recent report from researchers at the Pennsylvania State University indicates that, athough a state severance tax on natural gas extraction would have negative economic consequences on gas production companies, the overall benefit of state and local spending of revenue from the tax could increase population in the state by 1,300 people, add 1,400 new workers, and boost business sales by $80 million as well as personal income by $20 million