§45Q. Credit for carbon oxide sequestration — Inbound Citations
26 U.S.C. § 45Q
Cited by 16 provisions in release 119-102.
Citations to 26 U.S.C. § 45Q as a whole
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(2) No credit shall be allowed under this section with respect to any qualified clean hydrogen produced at a facility which includes carbon capture equipment for which a credit is allowed to any taxpayer under section 45Q for the taxable year or any prior taxable year.
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(B) No credit shall be allowed under section 45V or section 45Q for any taxable year with respect to any specified clean hydrogen production facility or any carbon capture equipment included at such facility.
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(iii) a carbon oxide sequestration credit determined under section 45Q,
Citations to §45Q(a)
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(29) the carbon dioxide sequestration credit determined under section 45Q(a),
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(3) So much of the credit for carbon oxide sequestration determined under section 45Q(a) as is attributable to carbon capture equipment which is originally placed in service after December 31, 2022.
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(iii) The credit for carbon oxide sequestration determined under section 45Q(a).
Citations to §45Q(a)(3)(A)
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(bb) in any other case, apply to such taxable year and to any subsequent taxable year which is within the period described in section 45Q(a)(3)(A) with respect to such equipment.
Citations to §45Q(c)
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(iii) in the case of a qualified facility (as defined in section 45Q(d), without regard to any date by which construction of the facility or equipment is required to begin) not less than 50 percent of the total carbon oxide production of which is qualified carbon oxide (as defined in section 45Q(c))—(I) the generation, availability for such generation, or storage of electric power at such facility, or(II) the capture of carbon dioxide by such facility,
Citations to §45Q(d)
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(C) If a taxpayer other than an entity described in subparagraph (A) makes an election under this subparagraph with respect to any taxable year in which such taxpayer has, after December 31, 2022, placed in service carbon capture equipment at a qualified facility (as defined in section 45Q(d)), such taxpayer shall be treated as an applicable entity for purposes of this section for such taxable year, but only with respect to the credit described in subsection (b)(3).
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(iii) in the case of a qualified facility (as defined in section 45Q(d), without regard to any date by which construction of the facility or equipment is required to begin) not less than 50 percent of the total carbon oxide production of which is qualified carbon oxide (as defined in section 45Q(c))—(I) the generation, availability for such generation, or storage of electric power at such facility, or(II) the capture of carbon dioxide by such facility,
Citations to §45Q(e)(3)
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(B) a direct air capture facility (as defined in section 45Q(e)(3)).
Citations to §45Q(f)(2)
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(i) pursuant to any regulations established under paragraph (2) of section 45Q(f), disposed of by the taxpayer in secure geological storage, or
Citations to §45Q(f)(5)
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(cc) a lesser amount, as determined by the Secretary, for qualified carbon dioxide captured and utilized in any activity consistent with section 45Q(f)(5) of title 26.