This CLE webinar will provide attorneys with an in-depth analysis of key components of the Advanced Manufacturing Production Tax Credit (45X MPTC) and the Advanced Energy Project Investment Tax Credit (48 ITC) as well as critical considerations for green energy manufacturers. The panel will discuss the interplay of utilizing 45X MPTC and 48 ITC and renewable energy investment, development, and production. The panel will also discuss what projects are eligible under Section 48 and Section 45X, applying for an allocation of the credits, recent IRS energy tax credit guidance and requirements, and other critical items in determining the use of Section 48 and 45X tax credits.
Manufacturers are eligible for tax credits aimed at supporting clean energy manufacturing under IRC Section 45X and Section 48. Attorneys must understand the interplay between these credits with clean energy development and key considerations when determining which tax credit to utilize for manufacturers.
The Inflation Reduction Act of 2022 (the Act) established 45X MPTC and expanded 48 ITC, along with the inclusion of a "direct pay" option for tax credits under certain circumstances, the tax credit transfer regime, and other key items. The 45X MPTC provides tax credits for each clean energy component domestically produced, while 48 ITC provides a tax credit for the investment in clean energy projects. However, projects cannot claim both the 45X MPTC and 48 ITC, making the determination of which should be used a critical component in minimizing potential tax liabilities.
To assist clean energy projects that may qualify for these tax credits, the IRS released guidance providing standards on which projects will be evaluated, details on the application process, and other critical items.
Listen as our panel discusses the interplay of utilizing 45X MPTC and 48 ITC for renewable energy investment, development, and production. The panel will also discuss eligibility requirements under Section 48 and Section 45X, applying for an allocation of the credits, recent IRS energy tax credit guidance and requirements, and other key items in determining the use of Section 48 and 45X tax credits.
