Houses Passes Energy Legislation

A final conference agreement emerged from the House/Senate conference committee on energy legislation, and the legislation was passed by the House on November 18, 2003 by a vote of 246-180. The tax portion of the legislation, labeled the Energy Tax Policy Act of 2003, includes tax credits and incentives for alternative vehicles and fuels; tax credits, a deduction, and depreciation incentives for incorporation of energy efficient devices and techniques in homes and businesses; tax incentives to improve the reliability of the gas and electrical transmission systems; clean coal incentives; oil and gas production incentives; nuclear power incentives; provisions to offset the impact of the alternative minimum tax on the proposed changes; and a variety of miscellaneous provisions. The total ten-year cost of the tax provisions is estimated at around $25.7 billion. A vote in the Senate could come as early as November 20, 2003.


Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

All stories by: Wolters Kluwer Tax and Accounting