Julie M. Marion

May 15, 2024 | mondaq.com | Amit Kalra |Julie M. Marion |Katherine Gillespie |Andrew Ratts

The Inflation Reduction Act enables corporate taxpayers to purchase and use against their own federal income tax liability the federal income tax credits generated by other taxpayers from the construction of renewable energy projects and generation of energy from renewable energy resources. This revolutionary change creates tremendous opportunity for US taxpayers to manage their federal income tax liability, actually generate a positive return from that liability and "go green".