New Tax Subsidies for Energy Projects
Energy projects in the United States qualify potentially for an array of new tax subsidies under a massive new energy bill that runs 1,724 pages ...
Project Finance NewsWire
August 2005
IN THIS ISSUE
US Remakes Playing Field for Gas and Electricity
The US Congress changed some basic ground rules that have an effect on how gas and electricity are supplied in the United States...
Will PUHCA Repeal Hasten Utility Consolidations?
The energy bill that President Bush signed on August 8 repeals a 1935 statute — called the “Public Utility Holding Company Act” — that makes it hard to form multistate electric and gas utilities i...
New Grants and Loan Guarantees in the Energy Bill
The new energy bill that President Bush signed on August 8 offers project developers a number of interesting financing and funding opportunities such as loan guarantees, production incentives, gra...
IRS Addresses Interconnection Payments
The Internal Revenue released new guidelines in July that should let some independent power companies get back “tax grossups” that utilities required them to pay in connection with “network upgrade ...
FERC Rebuffs Wind Developers
The tensions between federal and state energy regulation were dramatically highlighted by a Federal Energy Regulatory Commission order in July that its transmission pricing policies require wind d...
How Pollution Control Will Reshape the US Market
The US government is moving to reduce pollution from power plants...
Real Estate Issues in US Wind Deals
Wind developers learn quickly that expertise in wind technologies, electricity transmission and tax credits is not enough — they must also be savvy real estate developers...
Biodiesel: The Next Growth Opportunity?
Both Rudolf Diesel and Henry Ford incorporated biofuels in their early designs...
Ocean Energy: Whose Approval is Needed?
Energy projects in the oceans off the coast of the United States raise interesting questions about whose permission one needs to build...
Toll Road Update
The United States would like to see more roads built in the future by public-private partnerships, but this will happen only if states allow private sector participation...
Environmental Update
Utilities and environmental groups wasted little time in challenging the “clean air interstate rule” that requires 28
eastern states and the District of Columbia to reduce nitrogen oxide ...
IN OTHER NEWS
Uncertain Tax Positions
Uncertain tax positions may force American companies to restate earnings later this year.
Synfuel
Synfuel plant owners won a round in the IRS national office in June.
The Oregon
The Oregon legislature voted in July to require utilities to reduce rates if they end up not paying the full taxes that were included in rates...
Holland
Holland granted partial relief in July to US companies that have made offshore investments through Dutch holding companies using a so-called CV-BV structure.
India
India and Singapore have a new protocol to their tax treaty.
New Markets Tax Credit
New markets tax credit applications for calendar year 2006 must be posted by August 22...
Telephone Excise Taxes
Telephone excise taxes remain in play...
Successor Liability
Successor liability was not a problem when a lender foreclosed on a business.
Sales tax planning
Sales tax planning around sale of one plant failed.
Domestic manufacturing income
Domestic manufacturing income is taxed more lightly by the US ...
The California
The California Franchise Tax Board hired an outside tax counsel in June to train the state audit staff on what to look for in audits of companies that may be diverting income to offshore holding c...
Pennsylvania
A Pennsylvania appeals court held in late May that municipalities in the state have the right to collect property taxes from companies that merely hold rights to subsurface minerals...
Insurance
Insurance is not always easy to recognize...
Kansas
Kansas cannot assess interstate and intrastate gas pipelines differently for property tax purposes, the state supreme court said in June ...
Environmental Cleanup
Environmental cleanup costs where a manufacturer pollutes his own land and groundwater must be offset against revenue from sales of his products...
A Partnership
A partnership had no cancellation of debt income, but it took the IRS a year and a half to come to that conclusion.
Circular 230
Circular 230 has spurred debate about what warnings must be included in tax discussions in offering circulars...
Minor memos
The owners of the TransAlaska Pipeline System largely won a dispute with three Alaska municipalities over what value should be assigned to the pipeline for property tax purposes.
