Source: https://www.irs.gov/irb/2015-26_IRB/ar14.html
Timestamp: 2017-03-29 19:00:26
Document Index: 481880566

Matched Legal Cases: ['§ 45', '§ 45', '§ 45', '§ 45', '§ 45', '§ 45', '§ 45', '§ 45', '§ 45']

Internal Revenue Bulletin - June 29, 2015 - Notice 2015–44
Internal Revenue Bulletin: 2015-26 June 29, 2015 Notice 2015–44
Credit for Carbon Dioxide Sequestration 2015 Section 45Q Inflation Adjustment Factor
This notice publishes the inflation adjustment factor for the credit for carbon dioxide (CO2) sequestration under § 45Q of the Internal Revenue Code (§ 45Q credit) for calendar year 2015. The inflation adjustment factor
gas, and that is measured at the source of capture and verified at the point of disposal or injection. Qualified CO2includes the initial deposit of captured CO2used as a tertiary injectant but does not include CO2that is re-captured, recycled, or otherwise re-injected as part of the enhanced oil and natural gas recovery process.
measures for the geological storage of CO2 under § 45Q(a)(1)(B) or (a)(2)(C) such that the CO2 does not escape into the atmosphere. See section 5 of Notice 2009–83, 2009–2 C.B. 588, for procedures regarding secure geological
price deflator for 1990. For purposes of § 45Q(d)(7), with respect to 2015 calendar year, the inflation adjustment factor
is a fraction the numerator of which is the GNP implicit price deflator for 2014 (108.407) and the denominator of which is
the GNP implicit price deflator for 2008 (99.239).
tons of qualified CO2have been taken into account in accordance with § 45Q(a).
The inflation adjustment factor for calendar year 2015 is 1.0924. The § 45Q credit for calendar year 2015 is $21.85 per metric
ton of qualified CO2 under § 45Q(a)(1) and $10.92 per metric ton of qualified CO2 under § 45Q(a)(2).
Based on the annual reports filed with the Service as of June 9, 2015, the aggregate amount of qualified CO2taken into account for purposes of § 45Q is 34,934,796 metric tons.
Industries). For further information regarding this notice contact Ms. Bernardini on (202) 317-6853 (not a toll-free number).