Your Update on Smart Grid Investment GrantsClean Tech Taxcess Tracker - March 10, 2010 |
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The IRS released this evening the attached Revenue Procedure 2010-20, which provides a safe harbor under section 118(a) for the treatment of Smart Grid Investment Grants made to corporations by the Department of Energy as nontaxable contributions to capital. The revenue procedure applies to grants made to corporations under the Smart Grid Investment Matching Grant Program, which was recently amended by the American Recovery and Reinvestment Act of 2009 (P.L. 111-5). The Rev. Proc. is effective March 10, 2010.
Please contact either Scott Smith or Lori Wren Elerts if you have any questions or need additional information.
