Project Finance NewsWire

November 2012

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California
CALIFORNIA voters approved two ballot initiatives on November 6 that will affect tax burdens in the state

US Import Duties
US import duties on Chinese solar cells will be mostly higher, but start later, than expected...

Treasury cash grants
TREASURY CASH GRANTS for renewable energy projects are subject to audit by the Internal Revenue Service, but the IRS can share little information with the Treasury, the IRS said in an internal memorandum.

Parent Guarantees
Parent guarantees are a benefit to subsidiaries for which the parent company should be paid, and if a fee is not paid, then one should be imputed, the tax section of the New York State Bar Associa...

South Africa
South Africa signed project contracts — including power purchase agreements and implementation agreements — for 28 renewable energy projects in early November...

Kuwait
Kuwait has launched its first renewable energy project...

Retroactive Taxes
Retroactive taxes are rarely unconstitutional, according to a report by the Congressional Research Service in late October...

Electricity
Electricity is not “tangible personal property,” the Oregon Tax Court said in September. Companies are taxed in Oregon only on income that is earned in Oregon...

A Property Tax Break
A property tax break for renewable energy producers in Tennessee is “of doubtful constitutionality,” the state attorney general said in a formal legal opinion in early November...

Interest Deductions
Interest deductions may be hard to carry back. The US tax laws allow net operating losses to be carried back two years and forward for 20 years until they are used...

Minor Memos
The federal Consumer Leasing Act has a lot to say about what can and cannot be in contracts with homeowners