IRS Rev. Rule No. 2021-13: Section 45Q. - Credit for Carbon Oxide Sequestration
July 24, 2021
July 24, 2021
WASHINGTON, July 24 -- The U.S. Department of the Treasury's Internal Revenue Service issued the following revenue ruling (No. 2021-13):
ISSUES
(1) For purposes of section 45Q(a) of the Internal Revenue Code (Code), is the acid gas removal unit at Facility X carbon capture equipment within the meaning of Sec. 1.45Q-2(c) of the Income Tax Regulations?
(2) Is Investor required to own every component of carbon capture equipment within a single process tra . . .
ISSUES
(1) For purposes of section 45Q(a) of the Internal Revenue Code (Code), is the acid gas removal unit at Facility X carbon capture equipment within the meaning of Sec. 1.45Q-2(c) of the Income Tax Regulations?
(2) Is Investor required to own every component of carbon capture equipment within a single process tra . . .