Publication of Nonconventional Source Production Credit Reference Price for Calendar Year 2021

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Published

April 14, 2022

Issuing agencies

Treasury DepartmentInternal Revenue Service

Abstract

Publication of the reference price for the nonconventional source production credit for calendar year 2021.

Full Text

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<title>Federal Register, Volume 87 Issue 72 (Thursday, April 14, 2022)</title>
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[Federal Register Volume 87, Number 72 (Thursday, April 14, 2022)]
[Notices]
[Pages 22285-22286]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-08019]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Publication of Nonconventional Source Production Credit Reference 
Price for Calendar Year 2021

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice.

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SUMMARY: Publication of the reference price for the nonconventional 
source production credit for calendar year 2021.

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

SUPPLEMENTARY INFORMATION: The credit period for the nonconventional 
source production credit ended on December 31, 2013 for facilities 
producing coke or coke gas (other than from petroleum based products). 
However, the reference price continues to apply in determining the 
amount of the enhanced oil recovery credit under section 43 of title 26 
of the U.S.C., the marginal well production credit under section 45I of 
title 26 of the U.S.C., and the applicable percentage

[[Page 22286]]

under section 613A of title 26 of the U.S.C. to be used in determining 
percentage depletion in the case of oil and natural gas produced from 
marginal properties.
    The reference price under section 45K(d)(2)(C) of title 26 of the 
U.S.C. for calendar year 2021 applies for purposes of sections 43, 45I, 
and 613A for taxable year 2022.
    Reference Price: The reference price under section 45K(d)(2)(C) for 
calendar year 2021 is $65.90.

Christopher T. Kelley,
Special Counsel to the Associate Chief Counsel, (Passthroughs and 
Special Industries).
[FR Doc. 2022-08019 Filed 4-13-22; 8:45 am]
BILLING CODE 4830-01-P


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