New IRS Guidance for Domestic Content 10% Bonus Tax Credit for Renewable Energy Projects
Notice 2023-38 and Requirements for Bonus Production Tax Credits or Investment Tax Credits Under IRC Sections 45, 45Y, 48, or 48E
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE webinar will discuss key items under recently issued Notice 2023-38, applicable projects and the domestic content bonus opportunity, a description of domestic content items, certification and recordkeeping requirements, and next steps for renewable energy developers.
Outline
- Inflation Reduction Act of 2022: new 10 percent domestic content bonus credit on renewables
- Impact of new 10 percent bonus credit for renewables
- Notice 2023-38: key provisions and challenges
- Certification and recordkeeping
- Key issues and pitfalls to avoid for renewable projects
Benefits
The panel will discuss these and other key issues:
- Inflation Reduction Act of 2022 and new 10 percent domestic content bonus credit on renewables
- Key items and challenges stemming from IRS Notice 2023-38
- Requirements and processes involved to qualify for the domestic content bonus credit
- Determining classification of the components of the completed project under the rules
- Safe harbor requirements and pitfalls to avoid
- Navigating the certification and recordkeeping requirements
Faculty
Michael D. Haun
Partner
Paul Hastings
Mr. Haun is a partner in the Tax practice of Paul Hastings and is based in the firm’s Los Angeles... | Read More
Mr. Haun is a partner in the Tax practice of Paul Hastings and is based in the firm’s Los Angeles office. He provides tax and business advice to a broad range of domestic and international clients in a wide variety of partnership and limited liability company transactions; acquisitions, mergers and dispositions involving corporations, including cross-border transactions; restructuring matters; tax issues involving credit agents; real estate investments; initial coin offerings; cryptocurrencies and virtual currency matters. He also specializes in tax-subsidized transactions and represents developers, syndicators, investors and lenders with respect to investments that involve low-income housing tax credits; renewable energy tax credits; historic tax credits; and new markets tax credits.
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Anne S. Levin-Nussbaum
Partner
Akerman
Ms. Levin-Nussbaum's practice encompasses a broad spectrum of US federal income tax matters, with a particular... | Read More
Ms. Levin-Nussbaum's practice encompasses a broad spectrum of US federal income tax matters, with a particular emphasis on renewable energy transactions and financing.
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Marc D. Nickel
Senior Vice President
Aon M&A and Transaction Solutions
Mr. Nickel advises business on a broad range of energy issues related to U.S. federal, state, and local taxes. He has... | Read More
Mr. Nickel advises business on a broad range of energy issues related to U.S. federal, state, and local taxes. He has provided counsel on the qualification of transactions for renewable energy tax credits, application of existing tax laws to new technologies, multi-state product launch transactions, and resolution of tax controversies at the federal and state level.
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