CHIPS Investment Tax Credit Guidance

IRS Releases NPRM for Advanced Manufacturing Investment Credit

Posted 3/21/23

Treasury and the Internal Revenue Service released a notice of proposed rulemaking for the Advanced Manufacturing Investment Credit (CHIPS ITC) established by the CHIPS Act of 2022.

“By providing detailed eligibility guidance for this tax credit, we’re equipping taxpayers with the clarity and certainty they need to make investments that will increase semiconductor manufacturing and strengthen America’s semiconductor supply chain,” said Treasury Secretary Janet Yellen. 

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