In this article, the authors explore the current and potential state of tax law concerning the development of offshore wind facilities, and they examine some practical, regulatory, and financial hurdles facing the offshore wind industry.
On March 31, 2021, President Joe Biden announced the American Jobs Plan (the Plan). The Plan proposes approximately $2 trillion in government funding over the next decade focused on infrastructure, the electric grid, high-speed broadband, climate change, and jobs creation.
Previously, we reported that HMRC reversed its position on early termination fees, announcing on 2 September 2020 that such fees would be subject to VAT and taking the controversial position that this change in policy would be retroactive.
In a surprise end-of-year gift to UK taxpayers and tax advisors, the UK will no longer be fully implementing the EU’s Mandatory Disclosure Regime (DAC 6) reporting requirements.
Late last night, Congress passed the COVID-19 relief bill, which provides extensions for key renewable energy tax credits.
The IRS views disgorgement as a penalty, and thus not deductible as restitution, but the Supreme Court recently issued a decision in “Liu v. SEC” undercutting the IRS’s rationale. In light of “Liu,” the IRS needs to rethink its rationale.
As the pace of SPAC IPOs continues to set records, evolution of the economic terms has accelerated. We have seen changes to the warrant and promote structure (including “tontine” warrants), call rights motivating cashless exercise of warrants, and warrants in lieu of promote shares.