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Notice 2018-93: Credit for carbon oxide sequestration, applicable dollar amounts

Credit for carbon oxide sequestration, dollar amounts

Notice 2018-93 provides the applicable dollar amounts under section 45Q(b)(1) for purposes of determining the credit for carbon oxide sequestration under sections 45Q(a)(3) and (a)(4).

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Notice 2018-93 appears in the Internal Revenue Bulletin 2018-51 [PDF 216 KB] dated Monday, December 17, 2018.

  • The applicable dollar amounts under section 45Q(b)(1)(A)(i)(I) are $25.70 for 2018 and $28.74 for 2019. Amounts are provided through 2026.
  • The applicable dollar amounts under section 45Q(b)(1)(A)(i)(II) are $15.29 for 2018 and $17.76 for 2019. Amounts are provided through 2026.

Section 45Q provides a credit for the sequestration of carbon dioxide, and was amended by a provision of the Bipartisan Budget Act (February 9, 2018) to apply the credit under section 45Q to the sequestration of “qualified carbon oxide”—a broader term than “qualified carbon dioxide.” Notice 2018-93 also increases amount of the credit is also increased for carbon oxide captured with equipment originally placed in service on or after February 9, 2018 (date of enactment of the Bipartisan Budget Act).

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