Clients in the utility space face complex regulatory and market pressures. Our team provides regulated electric, gas, and water utilities; electric transmission companies; and natural gas pipelines ─ as well as their unregulated affiliates ─ with practical and effective solutions in connection with the tax aspects of their businesses.
From planning and counseling to transaction support, to tax controversies and dispute resolution, we help our clients strengthen their business positions and take full advantage of tax opportunities. We conduct sophisticated tax analyses and risk assessments, and regularly render tax advice on proposed return positions and tax returns. Our team assists with due diligence and negotiates transaction documents for the purchase and sale of operating companies and early- and late-stage development projects and operational projects. We also advise on qualification matters related to tax credits and other tax incentives.
Clients rely on our team for assistance in obtaining private letter rulings, technical advice memoranda, and other IRS guidance. We handle tax controversies in all administrative and judicial forums ─ from initial investigation through trial ─ and have extensive experience dealing with tax authorities at the federal, state, and local levels, including Internal Revenue Service (IRS) audits and appeals.
Attorneys in the group regularly develop, recommend, and review tax planning strategies involving nuclear decommissioning trust funds. We have extensive experience advising clients on general tax planning issues and other complex tax accounting issues related to nuclear decommissioning trust funds, and in securing private letter rulings from the IRS on these issues. Our team also secures private letter rulings necessary for making scheduled annual contributions to qualified nuclear decommissioning trust funds and for making "pour-over" contributions from nonqualified funds or other sources.
We help clients stay ahead of emerging legislative and regulatory concerns through regular thought leadership, including seminars on the tax issues relevant to electric utilities. The utility tax practice also publishes a subscription-based Washington Developments Tax Service, which covers the emerging legislative, administrative, and judicial tax developments of particular relevance to clients from all segments of the utility industry. Please click here to learn more and to subscribe.
Articles + Publications
04.15.24
Energy Community Tax Credit Boost Will Benefit Wind Sector
Firm News
04.11.24
Troutman Pepper Shortlisted for Three Wind Investment Awards
Firm News
11.27.23
Report: U.S. Energy Sector Reaches Turning Point on Transmission
Press Coverage
10.26.23
Clean Energy Tax Credit Transfers Gather Steam — Slowly
Firm Events
09.29.23
Utility Tax Seminar - Virtual Series
Speaking Engagements
09.20.23
REFF Wall Street 2023