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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


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


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


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 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


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


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


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