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May 16, 2024
2024-0987

IRS releases guidance on domestic content bonus credit safe harbor

The IRS and Treasury today released guidance (Notice 2023-41) modifying the existing safe harbor for determining domestic content bonus for credits under IRC Sections 45, 45Y, 48 and 48E for qualified facilities, energy projects and energy storage technology. The guidance also creates a new elective safe harbor for classifying applicable project components and calculating the domestic cost percentage. A Tax Alert is forthcoming.

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Published by NTD’s Tax Technical Knowledge Services group; Chris DeZinno, legal editor
 

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