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Law Offices of Donald A. Barnes, PLLC
818 Connecticut Avenue, N.W., Suite 1200
Washington, DC 20006
Telephone: (202) 728-4407
Cell: (202) 360-0275
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Washington Tax Alert September 7, 2006

Treasury has just issued temporary regulations under IRC § 45G regarding the 50% tax credit allowed for railroad track maintenance expenditures paid or incurred for maintaining railroad track owned by, or leased to, a class II or class III railroad. The new temporary regulations contain rules regarding how a railroad can assign eligibility for credit to certain third parties.