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What You Need to Know About Carbon Credits and 45Q Tax Credit
February 6, 2023
When the Inflation Reduction Act (IRA) was signed into law in August of 2022, it enhanced a number of energy credits to incentivize companies to move towards clean energy. One of the credits that was bolstered by the IRA was the 45Q carbon oxide sequestration credit (45Q) surrounding how companies dispose of or capture carbon oxide. The 45Q tax credit can be incredibly advantageous to manufacturers who understand how to take advantage of it.