IRS T.D.: Advance Manufacturing Investment Credit Rules (IRC §48D)

Final regulations to implement the advanced manufacturing investment credit established by the CHIPS Act of 2022 under I.R.C. §48D and §50 to incentivize the manufacture of semiconductors and semiconductor manufacturing equipment within the US, the IRS released. The final regulations: (1) adopt with certain modifications rules proposed in the first of two notices of proposed rulemaking to implement the credit, other than proposed rules regarding the elective payment election that were addressed in the final rule adopted in connection with the second notice of proposed rulemaking; and (2) provide the eligibility requirements for the credit, and a special 10-year credit ...