IRS Notice Establishes Inflation Factor for CY 2021 for Carbon Oxide Sequestration Credits

Monday, November 15, 2021 - 9:00am

The Internal Revenue Service (IRS) published a notice today providing a 1.2049 inflation adjustment factor for Internal Revenue Code (IRC) Section 45Q carbon oxide sequestration credits. The Notice 2021-35 inflation adjustment means the credit for calendar year 2021 is $24.10 per metric ton of qualified carbon oxide under IRC Section 45Q(a)(1) and $12.05 per metric ton of qualified carbon oxide under IRC Section 45Q(a)(2).

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