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IRS Issues "Unrelated Person" Guidance in a Revised Open-Loop Biomass Notice |
July 16, 2008
Previously published on June 2008
On June 25, 2008, the Internal Revenue Service issued Notice 2008-60 (the "Notice"), which modifies Notice 2006- 88 (section 45 guidance for electricity produced from open-loop biomass, the "Old Notice")) in certain respects, and which provides favorable guidance on the provisions requiring a sale to an unrelated person for purposes of all section 45 resources, including refined coal and Indian coal.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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