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Fiscal Cliff Legislation: Impact on the Energy Industry
Posted in Tax and Finance

Many tax credits are now available to the energy industry through the American Taxpayer Relief Act of 2012, and “The Fiscal Cliff In Depth” has the details:

The new law extended and expanded the tax credits available for the production or investment in energy-related projects, such as those utilizing wind, biomass, geothermal, landfill gas, trash, hydropower, and marine and hydrokinetic energy. The deadline for claiming production and investment credits now requires that the business must have begun construction of the project by the end of 2013, with a completion date of Dec. 31, 2014, relaxing the previous requirement that the project must have been placed in service by the taxpayer by the end of 2013 (2012 for wind projects). Note that regulations have not yet defined “beginning of construction.”

To learn more about Ross Cohen and his practice, please visit his profile.

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  • Partner

    Ross D. Cohen serves as Co-Leader of the Federal Tax Team and concentrates his practice on federal tax transactional and planning issues of partnerships, joint ventures, limited liability companies and S and C corporations.

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