The Treasury and IRS have proposed regs to help businesses claim credits for carbon capture. The regs provide guidance on two new credits for carbon oxide captured using equipment placed in service on or after Feb. 9, 2018. The credits, which were part of legislation enacted in Feb. 2018, would allow up to 1) $50 per metric ton of qualified carbon oxide for permanent sequestration and 2) up to $35 for “enhanced oil recovery” purposes. Neither of the credits is limited to a specified number of metric tons of captured carbon oxide. The 2018 legislation, the “Bipartisan Budget Agreement,” also expanded carbon capture to include “qualified carbon oxide.” Learn more: https://bit.ly/3ciWxpC
