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Advanced Manufacturing Production Credit (Section 45X)

A U.S. federal tax incentive that provides credits to companies for manufacturing certain eligible components, such as parts for solar energy, wind energy, electric vehicles, and critical minerals, within the United States.

Foreign entity of concern

A term defined in separate U.S. law (Section 9901(8) of the William M. Mac Thornberry National Defense Authorization Act for Fiscal Year 2021) that generally refers to foreign governments, companies, or other entities that pose a national security risk to the United States. This can include entities owned by, controlled by, or subject to the jurisdiction or direction of specific foreign governments or parties.

Internal Revenue Code of 1986

The main body of U.S. federal tax law, which includes all the rules and regulations for taxation in the United States.

Qualifying battery component

Specific parts of an electric battery that are eligible for the advanced manufacturing production tax credit under existing law.