Calfee Connections

Earlier this spring, the Department of Treasury published proposed rules with respect to the advanced manufacturing investment credit established under the CHIPS and Science Act. While these are just proposed rules surrounding the potential tax credit and are not yet set in stone, companies and manufacturers may already have questions about whether they stand to benefit. 

For companies that wish to receive manufacturing incentives in connection with the CHIPS and Science Act, the newly created CHIPS Program Office (CPO) at the U.S. Department of Commerce will begin accepting applications this spring.