Greg Jenner

Greg Jenner

Greg Jenner advises and represents clients on a wide range of tax transactions and issues. He heads the firm’s Washington, D.C., office, is a partner in the tax practice group and is a past co-chair of the firm’s energy team. He has had broad experience in virtually all federal tax matters, with particular focus on planning and implementing complex tax-related transactions, partnerships and joint ventures, and at Stoel Rives has increasingly focused on planning for renewable energy projects. Greg has ten years of combined experience at Treasury and on Capitol Hill. This experience provides him with unique and invaluable insights into legislative, tax policy, and budget processes, which in turn translates into value for the firm’s clients. Greg  speaks nationally on renewable energy tax planning, agriculture tax issues, and tax and budget policy.

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IRS Issues Notice on Depreciation of Ethanol Facilities

On Monday, August 24, the IRS issued Notice 2009-64.  The notice sets forth a proposed revenue ruling that concludes that ethanol facilities are depreciable over 7 years (rather than 5 years).  A link to the notice appears below. The proposed ruling classifies ethanol facilities as assets used in Waste Reduction and Resource Recovery Plants (7 … Continue Reading

Applications Now Being Accepted for ITC Grants

The U.S. Department of Treasury announced today that it has begun accepting applications for grants in lieu of tax credits pursuant to section 1603 of the American Recovery and Reinvestment Act of 2009 (ARRA). ARRA permits an applicant to receive a Treasury Department grant rather than claiming investment tax credits (ITCs) or production tax credits (PTCs) for … Continue Reading

IRS Provides Guidance on Electing ITC in Lieu of PTC

On Friday, June 5, the Internal Revenue Service issued Notice 2009-52, which provides guidance informing taxpayers how to elect to claim the Investment Tax Credit under IRC § 48 in lieu of the Production Tax Credit under IRC § 45 with respect to qualifying projects. This election was provided for as part of the American Recovery … Continue Reading

Upcoming Webinar: Four Primary Ways the Stimulus Bill will Impact the U.S. Wind & Biofuels Industries

Biofuels Journal and Wind Today Magazine are hosting this free webinar on April 14, 2009 at 2 p.m. Central Time. Please join me and my colleague, Graham Noyes, as we discuss the Obama Administration’s economic stimulus package and how it will impact the wind and biofuels industries. REGISTER HERE: https://www1.gotomeeting.com/register/244944960   There will also be a live Twitter feed available … Continue Reading

New tax credit for “qualifying advanced energy project”

Although this blog is focused on renewable energy, manufacturers in the renewable space should be aware of a new tax credit included in the stimulus bill.  The provisions is complicated and unlike most tax credits.  Nevertheless, its benefits, especially for manufacturers on the cutting edge, may be too great to ignore.  Taxpayers who qualify are … Continue Reading

Bonus depreciation available for cellulosic ethanol

The Internal Revenue Service has issued a new private letter ruling in which it concluded that a cellulosic ethanol plant is eligible for special bonus depreciation.  The IRS concluded in PLR 200910007 that a taxpayer’s demonstration plant would qualify even though the plant will produce ethanol through fermentation subsequent to hydrolysis rather than as a … Continue Reading

ENERGY TAX PROVISIONS INCLUDED

From a bootleg copy of the tax provisions in the stimulus bill: The grant in lieu of tax credits is in the bill. However, it is now Treasury rather than DOE that will issue the checks. The provision has also been changed to allow the grants to be issued even though the property is not … Continue Reading

UPDATE — Deal Reported Among Senate Democrats

Within the last hour, it is being reported that Senate Democrats have reached an agreement with certain Republican Senators and the White House on the outlines of a compromise stimulus bill that can pass the Senate.  Although details are sketchy, apparently WH Chief of Staff Rahm Emanuel met with Senate Democratic leaders and swing Republicans … Continue Reading

Senate Energy Committee staff proposes new RPS

The staff of the US Senate Energy Committee, chaired by Jeff Bingaman (D- New Mexico) has just released the draft of a proposed renewable portfolio standard.  The draft RPS would require that, by 2020, at least 20% of the electricity sold to retail consumers be obtained from renewable sources, such as wind, solar, geothermal and … Continue Reading
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