Publication of Nonconventional Source Production Credit Reference Price for Calendar Year 2023

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Published

April 30, 2024

Issuing agencies

Treasury DepartmentInternal Revenue Service

Abstract

Publication of the reference price for the nonconventional source production credit for calendar year 2023.

Full Text

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<title>Federal Register, Volume 89 Issue 84 (Tuesday, April 30, 2024)</title>
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[Federal Register Volume 89, Number 84 (Tuesday, April 30, 2024)]
[Notices]
[Page 34331]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-09224]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Publication of Nonconventional Source Production Credit Reference 
Price for Calendar Year 2023

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 2023.

FOR FURTHER INFORMATION CONTACT: Alan Tilley, 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 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 2023 applies for purposes of sections 43, 45I, 
and 613A for taxable year 2024.
    Reference Price: The reference price under section 45K(d)(2)(C) for 
calendar year 2023 is $76.10.

Christopher T. Kelley,
Special Counsel (Passthroughs and Special Industries).
[FR Doc. 2024-09224 Filed 4-29-24; 8:45 am]
BILLING CODE 4830-01-P


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