Tag Archives: carbon market

Summary of Guidance on Section 45Q Carbon Tax Credits Under 2020 Notice and Revenue Procedure

On Feb. 19, 2020, the IRS released Notice 2020-12 and Revenue Procedure 2020-12 (together, the “Carbon Guidance”) which provide highly anticipated clarity on the Internal Revenue Code Section 45Q credit for carbon oxide sequestration. The Carbon Guidance provides details on determining when construction has begun on an eligible project, and valid partnership allocations (including a permissible partnership flip structure), … Continue Reading

GT Air Update – Part II

By Adam Silverman. In part II of our Air Update we address the following recent developments related to the regulation of greenhouse gases: Massachusetts became the ninth—and most recent—state to adopt stricter air standards under the RGGI.  We wrote about New York’s adaptation earlier this year. European Parliament froze the number of pollution allowances in … Continue Reading
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