Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production, and Publication of Inflation Adjustment Factors and Reference Prices for Calendar Year 2011, 21947-21948 [2011-9471]
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Federal Register / Vol. 76, No. 75 / Tuesday, April 19, 2011 / Notices
Title: Application for Recognition of
Exemption Under Section 521 of the
Internal Revenue Code.
OMB Number: 1545–0058.
Form Number: 1028.
Abstract: Farmers’ cooperatives must
file Form 1028 to apply for exemption
from Federal income tax as being
organizations described in Internal
Revenue Code section 521. The
information on Form 1028 provides the
basis for determining whether the
applicants are exempt.
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
50.
Estimated Time per Respondent: 50
hours, 54 minutes.
Estimated Total Annual Burden
Hours: 2,545.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: March 26, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011–9464 Filed 4–18–11; 8:45 am]
BILLING CODE 4830–01–P
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Credit for Renewable Electricity
Production, Refined Coal Production,
and Indian Coal Production, and
Publication of Inflation Adjustment
Factors and Reference Prices for
Calendar Year 2011
Internal Revenue Service (IRS),
Treasury.
ACTION: Publication of inflation
adjustment factors and reference prices
for calendar year 2011 as required by
section 45(e)(2)(A) of the Internal
Revenue Code (26 U.S.C. 45(e)(2)(A)),
section 45(e)(8)(C) (26 U.S.C.
45(e)(8)(C)), and section 45(e)(10)(C) (26
U.S.C. 45(e)(10)(C)).
AGENCY:
The 2011 inflation adjustment
factors and reference prices are used in
determining the availability of the credit
for renewable electricity production,
refined coal production, and Indian coal
production under section 45.
DATES: The 2011 inflation adjustment
factors and reference prices apply to
calendar year 2011 sales of kilowatt
hours of electricity produced in the
United States or a possession thereof
from qualified energy resources, and to
2011 sales of refined coal and Indian
coal produced in the United States or a
possession thereof.
Inflation Adjustment Factors: The
inflation adjustment factor for calendar
year 2011 for qualified energy resources
and refined coal is 1.4459. The inflation
adjustment factor for Indian coal is
1.1066.
Reference Prices: The reference price
for calendar year 2011 for facilities
producing electricity from wind is 4.68
cents per kilowatt hour. The reference
prices for fuel used as feedstock within
the meaning of section 45(c)(7)(A)
(relating to refined coal production) are
$31.90 per ton for calendar year 2002
and $55.66 per ton for calendar year
2011. The reference prices for facilities
producing electricity from closed-loop
biomass, open-loop biomass, geothermal
energy, solar energy, small irrigation
power, municipal solid waste, qualified
hydropower production, marine and
hydrokinetic renewable energy have not
been determined for calendar year 2011.
Because the 2011 reference price for
electricity produced from wind does not
exceed 8 cents multiplied by the
inflation adjustment factor, the phaseout
of the credit provided in section 45(b)(1)
does not apply to such electricity sold
during calendar year 2011. Because the
2011 reference price of fuel used as
feedstock for refined coal does not
SUMMARY:
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21947
exceed the $31.90 reference price of
such fuel in 2002 multiplied by the
inflation adjustment factor and 1.7, the
phaseout of credit provided in section
45(e)(8)(B) does not apply to refined
coal sold during calendar year 2011.
Further, for electricity produced from
closed-loop biomass, open-loop
biomass, geothermal energy, solar
energy, small irrigation power,
municipal solid waste, qualified
hydropower production, marine and
hydrokinetic renewable energy, the
phaseout of credit provided in section
45(b)(1) does not apply to such
electricity sold during calendar year
2011.
Credit Amount by Qualified Energy
Resource and Facility, Refined Coal,
and Indian Coal: As required by section
45(b)(2), the 1.5-cent amount in section
45(a)(1), the 8-cent amount in section
45(b)(1), and the $4.375 amount in
section 45(e)(8)(A) and the $2.00
amount in section 45(e)(8)(D), are each
adjusted by multiplying such amount by
the inflation adjustment factor for the
calendar year in which the sale occurs.
If any amount as increased under the
preceding sentence is not a multiple of
0.1 cent, such amount is rounded to the
nearest multiple of 0.1 cent. In the case
of electricity produced in open-loop
biomass facilities, small irrigation
power facilities, landfill gas facilities,
trash combustion facilities, and
qualified hydropower facilities, section
45(b)(4)(A) requires the amount in effect
under section 45(a)(1) (before rounding
to the nearest 0.1 cent) to be reduced by
one-half. Under the calculation required
by section 45(b)(2), the credit for
renewable electricity production for
calendar year 2011 under section 45(a)
is 2.17 cents per kilowatt hour on the
sale of electricity produced from the
qualified energy resources of wind,
closed-loop biomass, geothermal energy,
and solar energy, and 1.08 cent per
kilowatt hour on the sale of electricity
produced in open-loop biomass
facilities, small irrigation power
facilities, landfill gas facilities, trash
combustion facilities, qualified
hydropower facilities, marine and
hydrokinetic renewable energy
facilities. Under the calculation required
by section 45(b)(2), the credit for refined
coal production for calendar year 2011
under section 45(e)(8)(A) is $6.33 per
ton on the sale of qualified refined coal.
The credit for steel industry fuel is
$2.89 per barrel-of-oil equivalent of steel
industry fuel sold. The credit for Indian
coal production for calendar year 2011
under section 45(e)(10)(B) is $2.2 per
ton on the sale of Indian coal.
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Federal Register / Vol. 76, No. 75 / Tuesday, April 19, 2011 / Notices
FOR FURTHER INFORMATION CONTACT:
Philip Tiegerman, IRS, CC:PSI:6, 1111
Constitution Ave., NW., Washington,
DC 20224, (202) 622–3110 (not a tollfree call).
Christopher T. Kelley,
Special Counsel (Passthroughs & Special
Industries).
[FR Doc. 2011–9471 Filed 4–18–11; 8:45 am]
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]]>Agencies
[Federal Register Volume 76, Number 75 (Tuesday, April 19, 2011)]
[Notices]
[Pages 21947-21948]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-9471]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Credit for Renewable Electricity Production, Refined Coal
Production, and Indian Coal Production, and Publication of Inflation
Adjustment Factors and Reference Prices for Calendar Year 2011
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Publication of inflation adjustment factors and reference
prices for calendar year 2011 as required by section 45(e)(2)(A) of the
Internal Revenue Code (26 U.S.C. 45(e)(2)(A)), section 45(e)(8)(C) (26
U.S.C. 45(e)(8)(C)), and section 45(e)(10)(C) (26 U.S.C. 45(e)(10)(C)).
-----------------------------------------------------------------------
SUMMARY: The 2011 inflation adjustment factors and reference prices are
used in determining the availability of the credit for renewable
electricity production, refined coal production, and Indian coal
production under section 45.
DATES: The 2011 inflation adjustment factors and reference prices apply
to calendar year 2011 sales of kilowatt hours of electricity produced
in the United States or a possession thereof from qualified energy
resources, and to 2011 sales of refined coal and Indian coal produced
in the United States or a possession thereof.
Inflation Adjustment Factors: The inflation adjustment factor for
calendar year 2011 for qualified energy resources and refined coal is
1.4459. The inflation adjustment factor for Indian coal is 1.1066.
Reference Prices: The reference price for calendar year 2011 for
facilities producing electricity from wind is 4.68 cents per kilowatt
hour. The reference prices for fuel used as feedstock within the
meaning of section 45(c)(7)(A) (relating to refined coal production)
are $31.90 per ton for calendar year 2002 and $55.66 per ton for
calendar year 2011. The reference prices for facilities producing
electricity from closed-loop biomass, open-loop biomass, geothermal
energy, solar energy, small irrigation power, municipal solid waste,
qualified hydropower production, marine and hydrokinetic renewable
energy have not been determined for calendar year 2011.
Because the 2011 reference price for electricity produced from wind
does not exceed 8 cents multiplied by the inflation adjustment factor,
the phaseout of the credit provided in section 45(b)(1) does not apply
to such electricity sold during calendar year 2011. Because the 2011
reference price of fuel used as feedstock for refined coal does not
exceed the $31.90 reference price of such fuel in 2002 multiplied by
the inflation adjustment factor and 1.7, the phaseout of credit
provided in section 45(e)(8)(B) does not apply to refined coal sold
during calendar year 2011. Further, for electricity produced from
closed-loop biomass, open-loop biomass, geothermal energy, solar
energy, small irrigation power, municipal solid waste, qualified
hydropower production, marine and hydrokinetic renewable energy, the
phaseout of credit provided in section 45(b)(1) does not apply to such
electricity sold during calendar year 2011.
Credit Amount by Qualified Energy Resource and Facility, Refined
Coal, and Indian Coal: As required by section 45(b)(2), the 1.5-cent
amount in section 45(a)(1), the 8-cent amount in section 45(b)(1), and
the $4.375 amount in section 45(e)(8)(A) and the $2.00 amount in
section 45(e)(8)(D), are each adjusted by multiplying such amount by
the inflation adjustment factor for the calendar year in which the sale
occurs. If any amount as increased under the preceding sentence is not
a multiple of 0.1 cent, such amount is rounded to the nearest multiple
of 0.1 cent. In the case of electricity produced in open-loop biomass
facilities, small irrigation power facilities, landfill gas facilities,
trash combustion facilities, and qualified hydropower facilities,
section 45(b)(4)(A) requires the amount in effect under section
45(a)(1) (before rounding to the nearest 0.1 cent) to be reduced by
one-half. Under the calculation required by section 45(b)(2), the
credit for renewable electricity production for calendar year 2011
under section 45(a) is 2.17 cents per kilowatt hour on the sale of
electricity produced from the qualified energy resources of wind,
closed-loop biomass, geothermal energy, and solar energy, and 1.08 cent
per kilowatt hour on the sale of electricity produced in open-loop
biomass facilities, small irrigation power facilities, landfill gas
facilities, trash combustion facilities, qualified hydropower
facilities, marine and hydrokinetic renewable energy facilities. Under
the calculation required by section 45(b)(2), the credit for refined
coal production for calendar year 2011 under section 45(e)(8)(A) is
$6.33 per ton on the sale of qualified refined coal. The credit for
steel industry fuel is $2.89 per barrel-of-oil equivalent of steel
industry fuel sold. The credit for Indian coal production for calendar
year 2011 under section 45(e)(10)(B) is $2.2 per ton on the sale of
Indian coal.
[[Page 21948]]
FOR FURTHER INFORMATION CONTACT: Philip Tiegerman, IRS, CC:PSI:6, 1111
Constitution Ave., NW., Washington, DC 20224, (202) 622-3110 (not a
toll-free call).
Christopher T. Kelley,
Special Counsel (Passthroughs & Special Industries).
[FR Doc. 2011-9471 Filed 4-18-11; 8:45 am]
BILLING CODE 4830-01-P
