Photo of Daniel B. Levine

Daniel B. Levine is of counsel in the firm’s Shanghai office.  He advises Chinese and non-Chinese companies in complex outbound and inbound direct investment transactions.  Formerly resident in the firm’s New York office, Mr. Levine has extensive experience with both China-based and non-China-based public and private mergers and acquisitions, venture capital investments, joint ventures, leveraged buy-outs, going-private transactions, and other transactional matters.  He frequently speaks and writes on trends in Chinese outbound direct investment and strategies for approaching destination country legal and regulatory challenges, including national security reviews in the United States by the Committee on Foreign Investment in the United States (CFIUS).

He has advised clients in a wide range of industries, including life sciences, technology, cleantech, telecom, heath care, building materials, building services, real estate and asset management.

Notice 2023-9, “Section 45W Commercial Clean Vehicles and Incremental Cost for 2023”

Concurrent with the white paper and Notice 2023-1, discussed in a separate blog, on December 29, 2022, the IRS released Notice 2023-9, which provides a safe harbor for determining the incremental cost of qualified commercial clean vehicles for the section 45W credit.

Continue Reading Treasury and the IRS provide a safe harbor for determining the incremental cost of a clean vehicle for the commercial clean vehicle credit

On December 29, 2022, Treasury released a white paper indicating the anticipated direction of proposed guidance on the critical mineral and battery component requirements for the new clean vehicle credit under section 30D. The guidance will be critical to automakers and consumers seeking to qualify for tax credits available for purchase of EVs under the Inflation Reduction Act.
Continue Reading Treasury and the IRS provide its first set of proposed guidance and a white paper on the clean vehicle credit

Today, the IRS released Revenue Procedure 2022-42 to address the reporting requirements for vehicle manufacturers and sellers.  These reporting requirements are prerequisites for purchasers’ eligibility for clean vehicle tax credits under Sections 25E, 30D, and 45W.  Section 30D(d)(3) requires that a manufacturer enter into a written agreement to become a qualified manufacturer, which requires periodic written reports to the IRS.  Similarly, Section 30D(1)(H) requires that the person who sells a vehicle furnish a report to purchasers and the IRS.

Continue Reading IRS Releases Reporting Requirements to Determine Eligibility for Clean Vehicle Tax Credits

As has been widely reported, on November 12 President Obama and China’s President Xi Jinping released a joint announcement on climate change and clean energy cooperation.  Beyond the announced greenhouse gas emission targets—for the U.S., to reduce emissions 26-28% below 2005 levels by 2025; for China, (i) to peak CO2 emissions by around 2030, with