Partner Casey August and associate M. Jared Sanders co-authored an Expert Analysis for Law360 discussing the Internal Revenue Service and US Treasury Department’s proposed regulations regarding the advanced manufacturing production credit under Section 45X of the Internal Revenue Code, enacted as part of the Inflation Reduction Act of 2022.
The article provides an overview of the Section 45X credit and the proposed regulations, including provisions related to selling credits and anti-abuse rules. The article concludes with observations and key takeaways, noting that the proposed regulations “strike a balance between setting forth generally straightforward and taxpayer-favorable guidance while guarding against various potential abuses.”