Eversheds Sutherland Tax Reform Law Blog
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Legal Alert: IRS issues new Section 45Q CCUS ruling

The IRS issued Revenue Ruling 2021-13 on July 1, 2021, which provides additional guidance regarding the section 45Q carbon capture, utilization and storage (CCUS) credit. More specifically, the ruling concludes that: A taxpayer needs to own only one component of carbon capture equipment within a single process train to be the person that is entitled to the tax credit.For section...