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Internal Revenue Code

The official body of U.S. federal tax laws.

Publicly Traded Partnership (PTP)

A business structure whose ownership interests are traded on a stock exchange or in a secondary market. Unlike typical corporations, if a PTP earns most of its income from specific activities (like natural resources), it is taxed like a partnership, meaning profits are passed directly to investors without corporate-level taxation.

Qualifying Income

For a publicly traded partnership, this is the specific type of income (e.g., from natural resources) that allows it to be taxed like a partnership rather than a corporation.

Pass-through entity

A business that does not pay corporate income taxes itself. Instead, its profits and losses are 'passed through' directly to the owners' personal income tax returns.

Renewable Biomass

Organic matter that can be used as a source of energy, often derived from plants, agricultural waste, or animal waste, that can be replenished.

Carbon Capture, Utilization, and Storage (CCUS)

Technologies and processes that capture carbon dioxide emissions from industrial sources or directly from the atmosphere, preventing it from entering the atmosphere. The captured carbon can then be stored underground or used for other purposes.