Carbon sequestration update: Proposed regulations provide long-awaited guidance

The Bipartisan Budget Act of 2018 (BBA 2018), enacted on February 9, 2018, substantially modified the existing credit for carbon oxide sequestration under section 45Q by expanding its application, making its benefits available to more taxpayers. The IRS recently proposed regulations implementing section 45Q and during this Global Energy Institute webcast, we examined the key provisions of the revised credit as set forth in the proposed regulations and the impact to the energy industry.