The U.S. Department of the Treasury and the Internal Revenue Service have issued proposed regulations to provide guidance for the advanced manufacturing production credit established by the Inflation Reduction Act (IRA).
The new Section 45X provides a credit for the production (within the United States) and sale of certain eligible components, including solar and wind energy components, inverters, qualifying battery components and applicable critical minerals.
The proposed regulations affect taxpayers who produce and sell eligible components and intend to claim the credit.
The guidance provides rules for the production of eligible components and sale to unrelated persons, as well as special rules that apply to sales between related persons. The proposed regulations also include rules for a taxpayer to make an election to treat sales to related persons as made to unrelated persons, known as the “related person election.”
Finally, the proposed regulations provide definitions of eligible components, rules related to calculating the credit, as well as specific recordkeeping and reporting requirements.
“Today’s guidance is a critical next step for U.S. manufacturers as they work to make announced facilities a reality,” says American Clean Power Association Chief Advocacy Officer JC Sandberg. “By creating and expanding supply chains to make clean energy technologies here at home, we will strengthen America’s energy security, create good-paying American jobs, and boost the nation’s economy.”
More information about IRA guidance can be found on the Inflation Reduction Act of 2022 page on IRS.gov.
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IRS Proposes Guidance for Solar Manufacturing Production Credit
Have you ever wondered why every dictator in human history follows the exact same playbook? Check this outPlato nailed this 2400 years ago, and it’s been on “rinse/repeat” ever since.
On average, I meet perhaps 50 K-12 teachers each year, and I often ask them: What is the biggest challenge you face that impacts your ability to connect with and educate your students?
Here’s a rough tabulation:
Screen time, how it robs kids of their ability to pay attention, impedes social interaction, and makes parenting more difficult: 80%
Everything else combined: 20%
Maybe this is a cynical viewpoint, but it seems like that world of today revolves around the mega-corporations profiting by punishing their customers.
In this case, we have the tech giants ruining the lives of our children. Elsewhere, we have healthcare industry driving people into bankruptcy, Big Oil ruining our planet, the gun lobby murdering our kids, and, of course, an ultra-corrupt government looting our treasury to pay off billionaire donors.
Note that this wasn’t the case when we boomers were growing up 60 years ago. This is a distinctive shift from the 1960s when corporate America was focused on things like color TVs and the Ford Mustang.
Renewable Energy
Is a Team of Is a Bunch of MAGA Thugs Beating the Snot Out of a Woman a New Low, or Is it What We Now Need to Expect?
Just when we think there is a bottom, the United States sinks just a bit lower. It’s our brand nowadays.
That’s quite a left cross this thug delivered to this helpless female protestor.
It wasn’t too long ago that beating up women was taboo in America. My 11-year-old, sixth-grade son saw a male classmate of his badly bruise a girl by pushing her hard down to the ground–and proceeded to punch him in the mouth. A fellow father witnessed the scene and told me, “Your son’s fist was in that kid’s teeth within a fraction of a second.”
I had brought him up to avoid violence and achieve peaceful resolutions to conflicts, but I couldn’t fault him here.
What a disgusting bunch of turds we’ve become.
Greenpeace delivers 47 metre-long petition with half a million signatures to Woodside HQ following major gas protest
Dictators
Greenpeace Australia Pacific activists in police custody after two-day protest against Woodside’s Browse gas project at Scott Reef
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