The IRS and Department of Treasury issued proposed regulations to provide guidance for the advanced manufacturing production credit established by the Inflation Reduction Act, the IRS announced Dec. 14. The new Section 45X provides a credit for the production, within the United States, and sale of certain eligible components, including solar and wind energy components, inverters, qualifying battery components, and applicable critical minerals. [IR-2023-238 (Dec. 14, 2023]
This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.
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