Grants and other loans taxpayers receive through agreements with the Department of Commerce are still eligible to be considered qualified investments for an advanced manufacturing credit, the IRS announced Tuesday.
The Commerce Department administers a program that aims to encourage semiconductor and related materials manufacturing. The program, authorized by what is known as the 2022 US Chips and Science Act, includes grants, loans, and loan guarantees to companies constructing or expanding those types of manufacturing facilities.
Companies can consider awards from that program as a qualified investment for the advanced manufacturing credit under Section 48D, also created by the CHIPS ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.