Treasury and IRS Finalize Clean Hydrogen Production Credit Regulations
By EsqSocial Corporation 14/01/25
The Inflation Reduction Act of 2022 added the Section 45V production tax credit for the production of clean hydrogen (Section 45V) to the Internal Revenue Code of 1986, as amended. Section 45V provides a credit against federal income tax for each kilogram of clean hydrogen produced during the taxable year for the first 10 years after a qualified clean hydrogen production facility that began construction before 2033 is placed in service (the Section 45V Credit)....
By: Paul Hastings LLP