Treasury Issues Carbon Capture Tax Credit Rules

May 28, 2020, 9:55 PM

The IRS released proposed rules Thursday for an expanded tax credit for capturing carbon dioxide before it enters the atmosphere.

More than two years ago, Congress expanded the credit under tax code Section 45Q, but many investors have been waiting for the Internal Revenue Service to lay out the rules before embarking on expensive carbon capture projects.

  • The proposed rules follow a notice and a revenue procedure the IRS released in February that are largely based on similar guidance for other renewable energy credits. The two pieces of guidance offered clarity on when the agency thinks projects actually started ...

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