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.
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Drilling Down - Examining the Section 45Q Tax Credit
In this edition of KPMG Global Energy Institute’s Drilling Down, we asked Katherine Breaks, Robert Swiech, and Megan Whitlock about the key provisions of the revised section 45Q tax credit for the oil and gas industry.