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August 23, 2022

Wednesday, August 31 | Breakdown of CHIPS and Science Act of 2022: What companies can do now (1 pm ET)

A panel of subject matter professionals from across EY will share the issues and opportunities related to both the incentives and loans and the Advanced Manufacturing Investment Credit provisions included in the CHIPS and Science Act of 2022 as it relates to semiconductors.

The recently signed CHIPS and Science Act of 2022 aims to build a domestic US supply chain for semiconductor chips in the face of foreign competition. The law includes $52.7 billion in funding for semiconductor manufacturing subsidies, grants and loans. It also provides a 25% investment tax credit (Advanced Manufacturing Investment Credit) for investments in semiconductor manufacturing that includes incentives for the manufacturing of semiconductors, as well as for manufacturing of specialized tooling equipment required in the semiconductor manufacturing process. Please join us for a discussion and overview of the new law and its potential implications for businesses.

The following topics will be discussed:

  • Analysis of the CHIPS and Science Act of 2022
  • Framework of the Act
  • Who qualifies for the Act’s incentives and credits?

We look forward to your participation.

Date: Wednesday, August 31, 2022

Time: 1:00–2:00 p.m. ET New York; 10:00–11:00 a.m. PT Los Angeles

Registration: Register for this event and other EY Tax Webcasts at:

Special guests

Sharon Heck, Chief Tax Officer, Intel Corporation

Steve Shee, VP of Global Tax, Applied Materials


  • Channing Flynn, EY Global Technology Sector Tax Leader
  • Ron Hofmeister, Global Semiconductor sector, EY-Parthenon, Ernst & Young LLP
  • Scott Mackay, Business Tax Advisory, Ernst & Young LLP
  • Amanda Shumaker, International Tax and Transaction Services, Ernst & Young LLP
  • Brian Smith, EY Global/Americas Location Investment, Credits and Incentives Leader
  • David Vaden, West Region Technology Media and Telecom Tax Leader, Ernst & Young LLP
  • Jen Walsh, EY Americas Technology Media and Telecom Tax Leader
  • Lynne Wang, Global Compliance and Reporting, Ernst & Young LLP

CPE credit offered: up to 1.2 depending on duration. Recommended field of study: Taxes. Learning objectives: Identify the key provisions of the CHIPS and Science Act of 2022; recognize the broader semiconductor industry issues to consider; recognize which types of companies qualify for different provisions of the new law. This intermediate level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

EY webcast managed and produced by the NTD Tax Knowledge Services Group, Washington, DC: Lynn Fairfax | and Barbara Kirchheimer |

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CHIPS Science Act of 2022