Searching Content indexed under Energy and Natural Resources by Grant Thornton LLP ordered by Published Date Descending.
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Senate Brings CFTC And FERC Up To Quorum
Shortly before breaking for the August recess, the US Senate voted to approve commissioners to both the CFTC and the FER), providing both agencies with enough commissioners for a functioning quorum.
United States
24 Aug 2017
IRS Modifies Safe Harbor Guidance And Deadlines For Section 45 And 48 Energy Credits
The IRS has issued new guidance (Notice 2017-04) updating and modifying deadlines and rules for the safe harbors for establishing that construction has begun...
United States
24 Jan 2017
IRS Updates Section 118 Safe Harbor For Transfers To Public Utilities
Section 61 generally states that gross income includes all income from all sources, but Section 118(a) provides an exception for contributions to the capital of a corporation.
United States
25 Jul 2016
Texas Comptroller Rules On Electricity Transmission And Distribution Cost Inclusion In COGS Deduction
The Texas comptroller of public accounts on March 3 issued a letter ruling addressing the inclusion of certain costs incurred by different types of utility providers in the revised Texas franchise tax cost of goods sold deduction.
United States
21 Jun 2016
IRS Updates Energy Project Deadlines And Guidance Under Sections 45 And 48
The IRS updated the deadlines and provided additional guidance (Notice 2016-31) for projects to qualify for the renewable electricity production tax credit (PTC) under Section 45...
United States
25 May 2016
IRS Issues Proposed Regulations Affecting Publicly Traded Partnerships Engaged In Minerals And Natural Resource Activities
Generally, an entity that is a PTP is classified as a corporation for U.S. federal income tax purposes under Section 7704.
United States
1 Jun 2015
Oregon Supreme Court Holds Electricity Is Tangible Personal Property For Apportionment Purposes
The Oregon Supreme Court has held that the sale of electricity constituted the sale of tangible personal property for Oregon corporation income tax apportionment purposes and should be sourced to the ultimate destination.
United States
27 Apr 2015
Senate Tax Writers Seek To Cut Alternative Fuel Taxes And Ease FIRPTA Burdens On REITs
The Senate Finance Committee approved a package of 17 relatively noncontroversial bills last week that includes provisions to ease restrictions under the Foreign Investment Real Property Tax Act of 1980...
United States
5 Mar 2015
Texas Court Rules Natural Gas Destined For Interstate Commerce Properly Subject To Local Property Tax
The Texas First Court of Appeals has ruled that the owner of natural gas stored in a Texas reservoir was properly assessed local property tax, regardless of whether the gas was sold in interstate commerce.
United States
6 Nov 2014
Guidance For Establishing Construction Start For Section 45 Credit Follows 1603 Rules
The IRS has issued rules for establishing that construction has started on a facility eligible for the renewable electricity production tax credit under Section 45.
United States
24 Apr 2013
Illinois Appellate Court Holds Natural Gas Pipeline Flow-Through Miles Must Be Included In Apportionment Factor Numerator
On December 7, the Illinois Appellate Court held that the apportionment factor numerator of pipeline companies must include miles traveled by natural gas in pipelines through Illinois even if the natural gas did not originate or terminate in the state (flowthrough miles).
United States
8 Jan 2013
IRS Revokes Letter Ruling On Valuation Of Acquired Power Purchase Agreements
The IRS has issued a private letter ruling (PLR 201249013) revoking a ruling issued earlier this year related to the cost of facility-specific power purchase agreements (PPAs).
United States
31 Dec 2012
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