Direct Pay Elections Not Aimed at Tax Credits, Economist Says

The majority of direct payment votes for the new manufacturing industry is not the purpose of the law, said the Joint Committee on Taxation on Wednesday at the Council of the District of Columbia Bar.

Taxpayers who are not tax-exempt organizations can opt for direct payment for five years for three tax credits—45Q, 45V, and 45X—in the tax-and-costs law.

For the carbon oxide sequestration tax credit below Section 45Q and tax incentives for hydrogen production down Section 45V, the right payment option is made when a qualified home is placed in service. However, tax experts say the law …

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