Key Energy Tax Provisions In Fiscal Cliff Legislation

Law360, New York (January 7, 2013, 11:41 AM EST) -- On Jan. 1, 2013, Congress passed the American Taxpayer Relief Act of 2012 to address the tax rate hikes and expiring tax incentives to avert the “fiscal cliff.” President Obama signed the legislation into law on Jan. 2, 2013. The legislation included important provisions to businesses, including extending the production tax credit (PTC) for wind energy facilities through 2013 and requiring that a qualified facility begin construction (rather than be placed in service) before Jan. 1, 2014, to claim the credit.

The development of wind projects...
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