Treasury issued the second tranche of guidance Wednesday for taxpayers who want to apply for a piece of the $10 billion allocation of the advanced energy project tax credit.
The Biden administration’s tax-and-climate law expanded the tax credit program under tax code Section 48C(e), providing up to a 30% tax credit to taxpayers for different types of clean energy projects to reduce greenhouse gas emissions.
Notice 2023-44 gives taxpayers more details on how to apply for the program; the first allocation round opened Wednesday.
“The guidance announced today will help usher in investments that will further spur the creation of ...
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