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45Q Regulations Will Spur Carbon Capture and Storage Investment

January 19, 2021 By Scott Harty, April McLeod and Elise Paeffgen

Carbon capture and storage could play a major role in a Biden Administration eager to rejoin the Paris Agreement. Our Federal Tax Group provides a brief overview of the 45Q credit and key takeaways from the IRS’s new final regulations.

  • Section 45Q provides a tax credit for captured carbon oxide
  • Final regs favor taxpayers and provide much-needed clarity
  • 5 key takeaways

Read the full advisory here.

Filed Under: Federal Tax Advisory Tagged With: 2021 Consolidated Appropriations Act, Carbon capture, carbon capture and storage, CCS, enhanced oil recovery, EOR, EPA, International Organization of Standardization, ISO, Paris Agreement, Section 45Q, Subpart RR

About Scott Harty

Scott Harty is a partner in the Federal & International Tax Group and focuses his practice on complex domestic and cross-border commercial transactions, including taxable and tax-free mergers and acquisitions, joint ventures, and corporate restructurings.

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About April McLeod

April counsels her clients through the labyrinth of federal and international tax laws.

About Elise Paeffgen

Elise Paeffgen’s practice is centered at the intersection of EPA, FDA, and DEA regulation. Elise works with manufacturers, importers, and forward and reverse distributors to effectively navigate EPA, FDA, and DEA regulations and minimize enforcement risks.

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