Tax Incentives Complicated by Rules for Prevailing Wages
Law360 – For those pursuing one of the tax credits included in the Inflation Reduction Act, meeting its prevailing wage and apprenticeship requirements has not been without its challenges.
Nicole M. Elliott and Timothy Taylor of Holland & Knight point out that tying labor rules to tax credit values in this way is something new. Furthermore, under a new, 222-page final labor rule, those requirements are changing on October 23. Following these requirements will be challenging, particularly since those seeking these tax incentives often do not have history with long-standing DBA requirements and the evolving rules in this area. Elliott and Taylor discuss this newly created intersection between tax and labor, and specifically focus on those aspects of the rules as currently drafted that may catch those seeking tax incentives under the Inflation Reduction Act off guard.
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