Heather Cooper
Subscribe to Heather Cooper's PostsHeather Cooper works on federal income tax matters, with a focus on energy tax issues. She represents clients in restructurings, mergers and acquisitions, and other transactional energy related matters. Heather's national practice includes advising on all aspects of renewable energy transactions such as solar and wind projects. She provides advice on tax equity structures, refinancings, acquisitions and dispositions, restructurings and workouts. Read Heather Cooper's full bio.
Five Takeaways: Navigating President Trump’s Executive Order on US Bulk Power System Electric Equipment
By Neil Levy, Joel A. Hugenberger, Heather Cooper, Carl J. Fleming and Seth B. Doughty on May 22, 2020
Posted In Power Markets, Project Development and Finance, Renewables, Tax
President Trump’s May 1, 2020 Executive Order prohibiting certain transactions involving bulk-power system electric equipment developed, manufactured or supplied by a foreign adversary could have far-reaching implications for both the renewable and conventional power industries. It has also raised a high level of uncertainty and risk while the industry awaits the actual implementation of the...
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IRS Releases Initial Section 45Q Carbon Sequestration Credit Guidance
By Brian Moore, Heather Cooper and Philip Tingle on Feb 21, 2020
Posted In Environmental, Natural Gas, Project Development and Finance, Renewables, Tax
Treasury and the IRS released initial guidance on the amended Section 45Q carbon oxide sequestration credit on February 19, 2020. Notice 2020-12 and Revenue Procedure 2020-12 provide guidance relating to the beginning of construction and tax equity partnership allocations. This is the first Section 45Q guidance since Treasury issued a request for comments in Notice...
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Senate Passes Tax Extenders Deal That Includes Extension of Renewable Energy Incentives
By Heather Cooper and Philip Tingle on Dec 19, 2019
Posted In Project Development and Finance, Renewables, Tax, U.S. Congress
The US Senate today passed a package of tax extenders as part of the year-end appropriations act that the US House of Representatives passed on December 17, 2019. President Trump is expected to sign the legislation before the end of the day tomorrow to avoid a government shutdown. The package includes a one-year extension of...
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House Passes PTC, NMTC Extension Bill
By Heather Cooper and Philip Tingle on Dec 18, 2019
Posted In Project Development and Finance, Renewables, Tax
On December 17, 2019, the US House of Representatives passed a year-end fiscal year 2020 spending bill for the federal government that includes a one-year extension of the production tax credit under Section 45 (PTC) for wind and other technologies. The bill would extend the wind PTC for facilities the construction of which begins during...
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Court Rules That Wind Farm Did Not Provide Proof of Development Fee to Receive 1603 Cash Grant
By Heather Cooper, Kevin Spencer and Philip Tingle on Jun 28, 2019
Posted In Environmental, Project Development and Finance, Tax
On June 20, 2019, the United States Court of Federal Claims published its long-awaited opinion in California Ridge Wind Energy, LLC v. United States, No. 14-250 C. The opinion addressed how taxpayers engaging in related party transactions may appropriately determine the cost basis with respect to a wind energy project under the Internal Revenue Code (IRC). Central...
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The Senate’s New Base Erosion Tax: Highlights for Renewable Energy
By McDermott Will & Emery, Bradford E. LaBonte, Heather Cooper and Philip Tingle on Dec 8, 2017
Posted In Renewables, Tax, U.S. Congress
On December 2, 2017, the Senate approved its version of the Tax Cuts and Jobs Act. The Senate Bill includes the base erosion and anti-abuse tax, a new tax intended to apply to companies that significantly reduce their US tax liability by making cross-border payments to affiliates. Given its potential to disrupt the financing of...
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Initial Republican Tax Reform Proposal Includes Tax Cuts and Changes to Energy Credits
By McDermott Will & Emery, Heather Cooper, Kevin Spencer and Philip Tingle on Nov 3, 2017
Posted In Featured, Power Markets, Project Development and Finance, Renewables, Tax, U.S. Congress
Changes to the energy credits proposed in the Tax Cuts and Jobs Act could impact the eligibility of renewable energy projects that had been relying on the guidance previously issued by the Internal Revenue Service. Continue Reading
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Analysis of Energy and Tax Proposals in the 2018 Budget Proposal
By McDermott Will & Emery, Heather Cooper and Philip Tingle on May 25, 2017
Posted In Project Development and Finance, Renewables, Tax, U.S. Congress
President Trump released his budget proposal for the 2018 FY on May 23, 2017, expanding on the budget blueprint he released in March. The budget proposal and blueprint reiterate the President’s tax reform proposals to lower the business tax rate and to eliminate special interest tax breaks. They also provide for significant changes in energy...
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IRS Issues Guidance on Tax Treatment of Energy Savings Performance Contracts
By McDermott Will & Emery, Bradford E. LaBonte, Heather Cooper and Philip Tingle on Feb 2, 2017
Posted In Uncategorized
On January 19, 2017, the Internal Revenue Service (IRS) issued Rev. Proc. 2017-19, 2016-6 I.R.B. (the Rev. Proc.), providing a safe harbor under which it will not challenge the tax treatment of an Energy Savings Performance Contract Energy Savings Agreement (ESPC ESA) as a service contract under Section 7701(e)(3). While the application of the guidance...
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IRS Issues Additional Guidance on Beginning of Construction Rules for Renewable Projects
By McDermott Will & Emery, Bradford E. LaBonte, Heather Cooper and Philip Tingle on Dec 21, 2016
Posted In Environmental, Power Markets, Renewables, Tax
On December 15, 2016, the Internal Revenue Service released Notice 2017-04, which provides welcome guidance on how to meet the “beginning of construction” requirements for wind and other qualified facilities. There has been much uncertainty about when construction of these types of facilities begins for renewable energy tax credit purposes. The Notice (1) extends the...
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