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Results: 1-10 of 17

Private letter ruling issued addressing the public benefit exception under IRC Section 118(b) relating to contributions in aid of construction

  • McDermott Will & Emery
  • -
  • USA
  • -
  • July 21 2010

A private letter ruling, particularly important to utility companies that receive payments to facilitate the relocation of transmission equipment, was recently issued

Energy tax incentive bill introduced in Senate

  • McDermott Will & Emery
  • -
  • USA
  • -
  • October 11 2010

New energy tax credit legislation was introduced by Senators Jeff Bingaman (D-NM) and Olympia J. Snowe (R-ME), under which natural gas, combined heat and power, the Advanced Energy Manufacturing Tax Credit, energy storage, Clean Renewable Energy Bonds, and offshore wind, among other energy expenditures and projects, would all receive new or expanded tax benefits

Treasury issues guidance on “beginning of construction” for 1603 grants

  • McDermott Will & Emery
  • -
  • USA
  • -
  • July 1 2010

The U.S. Treasury Department has clarified when construction begins in order to qualify for 1603 cash grants in lieu of tax credits

IRS provides procedures for election of investment tax credit in lieu of production tax credit

  • McDermott Will & Emery
  • -
  • USA
  • -
  • June 9 2009

The notice provides welcome guidance but may place significant filing requirements on renewable energy projects

Extending the GREEN tax incentives: Senate and House Bill comparison

  • McDermott Will & Emery
  • -
  • USA
  • -
  • March 10 2010

Both the House and the Senate have proposed bills extending certain expiring tax provisions related to energy

Key energy-related tax provisions in the 2011 budget proposal

  • McDermott Will & Emery
  • -
  • USA
  • -
  • February 9 2010

President Obama's budget proposal reveals the administration's agenda and priorities with respect to energy tax issues

Committee on Ways and Means to hold hearing on energy tax incentives

  • McDermott Will & Emery
  • -
  • USA
  • -
  • April 9 2010

The House Committee on Ways and Means is currently accepting written comments for consideration at an April 14, 2010, hearing on energy tax incentives

Treasury, DOE accepting applications for grants in lieu of tax credits for renewable energy projects

  • McDermott Will & Emery
  • -
  • USA
  • -
  • August 4 2009

The Treasury and U.S. Department of Energy estimate that at least $3 billion in financial support will be distributed to approximately 5,000 renewable energy production facilities

Another push offshore: proposed legislation introduced to incentivize offshore wind projects

  • McDermott Will & Emery
  • -
  • USA
  • -
  • March 8 2010

The proposed bills would specifically apply the production tax credit and the investment tax credit to offshore wind facilities and would provide for a January 1, 2020, expiration date of these tax credits

Congress passes bill extending Section 1603 grant and other energy-related incentives

  • McDermott Will & Emery
  • -
  • USA
  • -
  • December 17 2010

The U.S. Congress recently passed a bill extending the Section 1603 grant program for one year, prolonging certain credits for biodiesel producers and both continuing and expanding first-year bonus depreciation