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2021 Consolidated Appropriations Act

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 oxideFinal regs favor taxpayers and provide much-needed clarity5 key takeaways Read the full advisory here. [...]Read more

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

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