The Internal Revenue Service issued proposed regulations on May 31, 2023, for the Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code. The proposed regulations provide more details on the procedures and criteria of the application process for entities to be able to receive increased U.S. federal income tax credits for solar and wind facilities in low-income communities.

Continue reading the full GT Alert.

Tags: energy project finance and development, federal, GT Insight, internal revenue service, IRS, Tax
Print:
Email this postTweet this postLike this postShare this post on LinkedIn
Photo of Margaret J. Weil Margaret J. Weil

Margaret J. Weil focuses her practice on tax planning and advice for private equity transactions, mergers and acquisitions, financings, and other commercial transactions. She advises domestic and international corporations, partnerships, and high-net-worth individuals on a broad range of tax matters, including domestic and…

Margaret J. Weil focuses her practice on tax planning and advice for private equity transactions, mergers and acquisitions, financings, and other commercial transactions. She advises domestic and international corporations, partnerships, and high-net-worth individuals on a broad range of tax matters, including domestic and cross-border M&A, securities offerings, restructurings, tax compliance, and the federal, state, and international tax developments that affect their transactions and ongoing business operations.

Read more about Margaret J. WeilMargaret's Linkedin Profile
Show more Show less
Photo of Braxton Roam Braxton Roam

Braxton T. Roam focuses his practice on energy project finance and taxation. Braxton advises tax equity investors, lenders, developers, and sponsors in the renewable energy space—particularly those relating to wind, solar, biomass, and other emerging technologies—with structuring and closing transactions that rely on…

Braxton T. Roam focuses his practice on energy project finance and taxation. Braxton advises tax equity investors, lenders, developers, and sponsors in the renewable energy space—particularly those relating to wind, solar, biomass, and other emerging technologies—with structuring and closing transactions that rely on federal and state tax incentives. His experience includes matters involving Internal Revenue Code section 48 Investment Tax Credits (ITC), section 45 Production Tax Credits (PTC), section 45Q Carbon Oxide Sequestration Credits, section 1400Z Qualified Opportunity Zones, and the section 1603 Treasury Grant Program under the American Recovery and Reinvestment Act of 2009, among other federal and state tax incentives.

Read more about Braxton RoamBraxton's Linkedin Profile
Show more Show less
Benjamin Almy ‡

Ben Almy utilizes deep in-house tax experience to advise his clients. In his managerial role at AES Clean Energy, he led tax analysis on utility-scale and distributed generation renewable project acquisitions – particularly relating to solar, wind, stand-alone storage, and green hydrogen projects.

Ben Almy utilizes deep in-house tax experience to advise his clients. In his managerial role at AES Clean Energy, he led tax analysis on utility-scale and distributed generation renewable project acquisitions – particularly relating to solar, wind, stand-alone storage, and green hydrogen projects. His experience includes drafting and reviewing commercial contracts for project acquisitions, equipment procurement, construction, and partnership formation, with a focus on tax provisions. He advises on federal and state tax incentives, state and local tax compliance, and tax-efficient structuring.

‡ Admitted to practice in Montana. Not admitted in the District of Columbia. Practice in D.C. supervised by shareholders admitted to practice in D.C. Practice limited to Federal Courts and Agencies.

Read more about Benjamin Almy ‡Benjamin's Linkedin Profile
Show more Show less
Related Posts
Tax_Proposal
U.S. Treasury Announces $5 Billion Allocation of New Markets Tax Credit Awards
September 29, 2023
solar wind renewable energy
Proposed Regulations under Section 6418 Transferability of Clean Energy Tax Credits
July 13, 2023
EnergyFinanceDevelopment_Hero
IRS Releases Guidance on Elective Payments and Transferability of Certain Tax Credits
June 14, 2023