IRS Notice: Advanced Nuclear Power Facilities Credit Guidance, Request for Comments (IRC §45J)

General rules for determining the credit for production from advanced nuclear power facilities under I.R.C. §45J, the IRS provided Mar. 9 while also requesting public comment on topics relating to the credit. The amount of unutilized national megawatt capacity limitation (NMCL) available for allocation is 6,000 megawatts, the IRS said. Procedures for taxpayers to apply for allocations of, and that the IRS will use to allocate, the unutilized NMCL to facilities that the Department of Energy previously certified as an “advanced nuclear facility” under Notice 2013-68 are provided, as are procedures for a “qualified public entity” to ...