The IRS released guidance Thursday clarifying what may qualify as carbon capture equipment under tax regulations and the parameters under which an investor can claim a credit.
Tax code Section 45Q provides tax credits for carbon oxide sequestration—a process by which carbon is seized at the point of emission or from the air and then permanently stored. The latest guidance (Rev. Rul. 2021-13) says an acid gas removal unit at an industrial facility is a component of carbon capture equipment within the meaning of Section 45Q.
- In addition, an investor in certain components of carbon capture ...
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