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IRS Establishes Section 45Q Carbon Sequestration Rates for 2023

Monday, June 26, 2023 - 11:00AM

The Internal Revenue Service (IRS) published a notice today establishing the inflation adjustment factor for Internal Revenue Code (IRC) Section 45Q carbon sequestration for 2023 at 1.3471. Notice 2023-46 sets the Section 45Q credit for calendar year 2023 at $26.94 per metric ton of qualified carbon oxide under IRC Section 45Q(a)(1) and $13.47 per metric ton of qualified carbon oxide under IRC Section 45(Q)(a)(2). All 2023 figures represent a 7.5% increase over the 2022 levels.

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