Tax Equity News

IRS Rules on Late Solar Inverted Lease Elections

Posted by David Burton

March 21, 2016

Posted in Blog article Renewable energy

In two identical private letter rulings, LTR 201550024 and LTR 201550023, which were made public on December 11, the IRS granted a lessor in an inverted lease permission to make a late election to pass through to the lessee the 30 percent investment tax credit (ITC) under section 48. The IRS issued a third ruling, LTR 201552004, for a similarly structured transaction, permitting a late election out of bonus depreciation.

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Tax Equity News reports on issues where renewable energy meets tax policy in the United States.


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