Hydrogen that studio was created and you will likely to develop setting hydrogen specified within the part (c)(2) associated with part
(e) Third party verification -(1) As a whole. In the case of good taxpayer that renders an election under section 48(a)(15)(C)(ii)(II) to relieve one licensed possessions which is section of a designated clean hydrogen production facility given that opportunity assets to own purposes of the newest point forty eight borrowing, the new taxpayer have to obtain a yearly verification statement into the taxable seasons where in actuality the election lower than area forty eight(a)(15)(C)(ii)(II) is made for this new studio as well as for each nonexempt seasons afterwards inside recapture several months specified for the part (f)(3) on the section. New taxpayer should complete brand new annual verification statement given that a keen accessory to your Form 3468, Investment Credit, or people successor setting(s), into the taxable season where election significantly less than area forty-eight(a)(15)(C)(ii)(II) is perfect for the fresh new business.
When it comes to any assets listed in provider just after , wherein structure first started before , the new election less than section 48(a)(15)(C)(ii)(II) can be applied only to the latest extent of the foundation of such possessions that’s attributable to construction, reconstruction, or erection going on immediately following
(2) Annual confirmation report -(i) Generally speaking. (more…)