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The Creating Helpful Incentives to Produce Semiconductors and Science Act (CHIPS Act) and the “Inflation Reduction Act� (IRA) were enacted within a week of each other this past August. Both include tax incentives that can have a significant impact on technology company business decisions as well as tax planning.

In this podcast, Tony Castellanos, Tax Industry Leader for ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø LLP (ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø), Dean Kamahele, ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Technology Tax Industry Leader, and Hannah Hawkins, principal with the Credits & Incentives group in the ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Washington National Tax practice, discuss this recent legislation, providing a high-level overview of the incentives in the CHIPS Act and the IRA that will be of interest to technology companies and organizations in their supply chains. The podcast explores:

• Unique features in the design of several of the incentives
• Questions tech company executives should be asking while waiting for detailed legislative guidance
• The potential impact of CHIPS and IRA provisions on investment decisions as well as the potential indirect impact to a company’s environmental, social, and governance (ESG) profile
• The importance of involving a company’s tax department and tax advisers early in the evaluation process to facilitate a comprehensive understanding of the impact of the incentives to the company’s unique profile and how to maximize the amount of benefits that can be obtained.