What To Know About IRS' 'Begun Construction' Tests

Law360, New York (April 22, 2013, 1:37 PM EDT) -- On April 15, 2013, the Internal Revenue Service published Notice 2013-29, providing two new "begun construction" tests, at least one of which must be passed before the end of 2013 in order for projects that generate electricity from wind, geothermal, biomass, landfill gas, municipal solid waste, hydroelectric production and marine and hydrokinetic energy (I’ll call these “grandfathered technologies”) to qualify for a production tax credit (PTC) or investment tax credit (ITC).

While these tests are very similar to the Section 1603 grant-in-lieu-of-tax-credit rules published by the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.