{"id":107687,"date":"2024-10-24T09:54:59","date_gmt":"2024-10-24T13:54:59","guid":{"rendered":"https:\/\/\/?p=107687"},"modified":"2024-10-25T07:28:26","modified_gmt":"2024-10-25T11:28:26","slug":"treasury-releases-final-rules-45x-domestic-manufacturing-tax-credits","status":"publish","type":"post","link":"https:\/\/\/2024\/10\/treasury-releases-final-rules-45x-domestic-manufacturing-tax-credits\/","title":{"rendered":"Treasury releases final rules for 45X domestic manufacturing tax credits"},"content":{"rendered":"

Today, the U.S. Department of the Treasury and the IRS released\u00a0final rules<\/a>\u00a0for the\u00a0Advanced Manufacturing Production Credit (Section 45X of the Internal Revenue Code), to spur continued growth of U.S. clean energy manufacturing as part of President Biden and Vice President Harris\u2019 Investing in America Agenda.<\/p>\n

The final rules announced today are largely in line with proposed regulations released in December 2023<\/a>. They clarify definitions and confirm credit amounts for eligible components, including solar energy components, wind energy components, inverters, qualifying battery components and applicable critical minerals; define key terms to incentivize production in the United States and clarify the circumstances under which taxpayers can claim the credit; and finalize important safeguards to prevent potential fraud, waste, or abuse \u2014 including safeguards against duplicative crediting of the same component, crediting of activities that are not value-added, or extraordinary circumstances in which components are produced but not put to productive use.<\/p>\n

Here are the listed manufacturing tax credits as related to the solar and storage industries:<\/p>\n

<\/span>PANELS<\/div>
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