81 FR 3238 - Credit for Indian Coal Production and Inflation Adjustment Factor for Calendar Year 2015

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 12 (January 20, 2016)

The 2015 inflation adjustment factor is used in determining the availability of the credit for Indian coal production under section 45. Section 186 of Division Q of the Consolidated Appropriations Act, 2016 (Pub. L. 114-113) extends the credit period for the Indian coal production credit from a 9-year period beginning on January 1, 2006, to an 11-year period beginning on January 1, 2006. This provision is effective for coal produced in the United States or a possession thereof after December 31, 2014.

[Federal Register Volume 81, Number 12 (Wednesday, January 20, 2016)]
[Notices]
[Page 3238]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-00894]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Credit for Indian Coal Production and Inflation Adjustment Factor 
for Calendar Year 2015

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Publication of inflation adjustment factor for Indian coal 
production for calendar year 2015 under section 45(e)(10)(B) (26 U.S.C. 
45(e)(10)(B)) of the Internal Revenue Code.

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SUMMARY: The 2015 inflation adjustment factor is used in determining 
the availability of the credit for Indian coal production under section 
45. Section 186 of Division Q of the Consolidated Appropriations Act, 
2016 (Pub. L. 114-113) extends the credit period for the Indian coal 
production credit from a 9-year period beginning on January 1, 2006, to 
an 11-year period beginning on January 1, 2006. This provision is 
effective for coal produced in the United States or a possession 
thereof after December 31, 2014.

DATES: The 2015 inflation adjustment factor applies to calendar year 
2015 sales of Indian coal produced in the United States or a possession 
thereof.
    Inflation Adjustment Factor: The inflation adjustment factor for 
calendar year 2015 for Indian coal is 1.1772.
    Credit Amount for Indian Coal: As required by section 
45(e)(10)(B)(ii), the $2.00 amount in section 45(e)(10)(B)(i) is 
adjusted by multiplying such amount by the inflation adjustment factor 
for the calendar year. Under the calculation required by section 
45(e)(10)(B)(ii), the credit for Indian coal production for calendar 
year 2015 under section 45(e)(10)(B) is $2.354 per ton on the sale of 
Indian coal.

FOR FURTHER INFORMATION CONTACT: Jennifer A. Records, CC:PSI:6, 
Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC 
20224, (202) 317-6853 (not a toll-free number).

Christopher T. Kelley,
Special Counsel to the Associate Chief Counsel, (Passthroughs and 
Special Industries).
[FR Doc. 2016-00894 Filed 1-19-16; 8:45 am]
 BILLING CODE 4830-01-P