Carbon Oxide Sequestration Rates Go Up Slightly for Calendar Year 2022

Monday, September 26, 2022 - 11:00am

Internal Revenue Service (IRS)-published inflation adjustment rates for Internal Revenue Code Section 45Q carbon oxide sequestration for calendar year 2022 are a slight increase over 2021. Notice 2022-38 provides a 1.2534 adjustment multiplier, putting the credit for calendar year 2022 at $25.07 per metric ton of qualified carbon oxide under Section 45Q(a)(1) and $12.53 per metric ton of qualified carbon oxide under Section 45Q(a)(2). Those totals are $1.06 per ton and 48 cents per ton more than the 2021 figures.

Learn more about various clean energy provisions at the Novogradac 2022 Fall Renewable Energy and Environmental Tax Credits Conference, Nov. 3-4 in Washington, D.C.