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Carbon oxide sequestration credit (45Q)

A federal tax credit for companies that capture carbon dioxide (a greenhouse gas) and store it safely underground or use it in a way that prevents it from entering the atmosphere.

Secure geological storage

The process of injecting carbon dioxide deep underground into rock formations, such as saline aquifers or depleted oil and gas reservoirs, where it is expected to remain permanently trapped.

Tertiary injectant

A substance, such as carbon dioxide, injected into an oil or natural gas reservoir during the third stage of oil recovery to push more oil or gas out of the ground.

Enhanced oil or natural gas recovery (EOR/ENGR)

Techniques used to increase the amount of oil or natural gas that can be extracted from an oil field, often by injecting gases like carbon dioxide into the reservoir.

Internal Revenue Code of 1986

The main body of federal tax law in the United States.

Taxable year

The annual accounting period used by an individual or organization for calculating income taxes, typically the calendar year for most individuals.