Production Tax Credit definition

Production Tax Credit or “PTC” means the tax credit for electricity produced from certain renewable generation resources described in Section 45 of the Internal Revenue Code of 1986, as it may be amended or supplemented from time to time.

Production Tax Credit or “PTC” means the tax credit for electricity produced from certain renewable generation resources described in Section 45 of the Internal Revenue Code of 1986, as it may be amended from time to time.]

Production Tax Credit or “PTC” means the production tax credit for wind-powered electric generating facilities described in Section 45 of the Internal Revenue Code of 1986, as it may be amended or supplemented from time to time.

Examples of Production Tax Credit in a sentence

• If, prior to the application in Section 5(b) or filing in Section 5(c) of this Attachment J (Company Payments for Energy, Dispatchability and Availability of XXXX), as applicable, a change in tax law occurs to introduce a Hawai‘i Production Tax Credit or an alternative renewable tax credit, Seller will use commercially reasonable efforts to determine which tax strategy is likely to result in the larger Net Amount (based on net present value for tax credits earned over time) of usable tax credits.

• The Manitoba Tax Credit is compatible with the Canadian Film or Video Production Tax Credit (CPTC) and the Film or Video Production Services Tax Credit (PSTC), which are co-administered by the Canadian Audio-Visual Certification Office (CAVCO) and CRA.

• As of April 1, 2007, the Canada Revenue Agency (CRA) is co-administering the Manitoba Film and Video Production Tax Credit with Manitoba Film & Music on behalf of the Province of Manitoba.

• The Manitoba Film and Video Production Tax Credit is designed to encourage outside collaboration with non- Manitoba producers.

• Interactive digital media projects, including video games, do not qualify under the Manitoba Film and Video Production Tax Credit.

More Definitions of Production Tax Credit

Production Tax Credit or “PTC” means a production tax credit under the United States Internal Revenue Code.

Production Tax Credit or “PTC” means the tax credit for electricity produced from certain renewable generation resources described in Section 45 of the Internal Revenue Code of 1986, as it may be amended from time to time.] [Delete if not currently applicable to the technology type.]

Production Tax Credit means the production tax credit applicable to electricity produced from certain renewable resources pursuant to 26 U.S.C. §45.

Production Tax Credit means the tax credits applicable to electricity produced from certain renewable resources pursuant to Article 45 of the Internal Revenue Code (as amended from time to time), or such substantially equivalent federal tax incentive that provides Seller with a tax credit based on energy production from any portion of the wind project.

Production Tax Credit. [content/culture] 45

Production Tax Credit. [content/culture] Must be a Can. Film or Video Production (defined above) The Tax Credit is essentially 25% (QC=33.33%) of 48% (QC=45% / will be changed to 50%), which is 12% (QC= just under 27%)of the total costs. Meaning the gov’t will refund $120K. (takes 12-18mths. for the gov’t to issue) BUT you know you will receive that if you spend $1M. Hence, you go to the bank for interim financing of $110K (plus $10K interest) for an assignment of the $120K 18mths hence of the gov’t refund. This is free money, but when/if there is a profit on the film it will be taxed. This 12% tax credit will be subtracted from the CCA, so if the film costs $1M it is now $880K (b/c you subtracted the $120K). This means if you have $880K income thereafter your net income is 0. BUT, the next $120K is taxable – which was the real cost to which the film was $1M. Which only makes sense b/c at this point the production is really turning a profit. -The tax credit will be payable to a producer, which is a “qualified corporation” that files a Can. Film or Video Production certificate (defined as being a certificate issued by the gov’t, in response to an ap. by the producer, that lays out the films proposal in its entirety (before production starts). The certificate states that based on the info. submitted to the gov’t., they hereby confirm (if done what is proposed in the film) the production will be seen as a Can. Film or Video Production & the estimated amount of total tax credit will be $X. The bank then takes that ‘Part-A’ certificate (& looks to see what the producer said he’d do) then the bank knows the producer will actually receive the tax credit, which the bank will seek an assignment thereof. Problem! As Crown receivables have restrictions on assignability (Fed & prov.). Generally, receivable owing by the gov’t cannot be assigned to a 3P, which would defeat the whole purpose of the exercise (that being to have monies advanced despite the obscene of revenue projections). Hence both Feds, the QC amended their tax laws to effectively allow these types of tax credit to be assigned. HOWEVER the bank cannot enforce them agst the gov’t. Thus the assignment is valid BUT the assignment will not bind the crown – if fact the Crown can offset the refund agst any liability that the producer owes. Hence, a problem still exists, which concerns the bank – although in real life no problems have been grand, although the gov’t does still refuse to issue the check to anyone else except the pr...

Production Tax Credit means production tax credits calculated in accordance with Section 213 of this Agreement arising under 26 U.S.C. § 45, as in effect from time to time during the Term of this Agreement, or any successor or other provision providing for a federal tax credit determined by reference to electric energy produced from nuclear resources and any correlative state tax credit determined by reference to electric energy produced from nuclear resources for which the PPA Project Entity’s Ownership Interest is eligible.