Navigating the PowerTax End of Life: What Utilities Need to Know and How to Transition Smoothly to Lucasys Tax

As a utility company, you rely on robust, reliable software to manage complex tax processes efficiently. For decades, PowerPlan’s PowerTax software has been the only available industry-focused tax fixed asset solution. However, the Lucasys team has heard from many utilities that PowerPlan has communicated an End of Life for its PowerTax software. If your organization has been told that PowerTax is reaching its End of Life, you may now be facing the urgent task of finding a new solution to replace your legacy solution. The discontinuation of any software poses significant challenges, but it also presents an opportunity to upgrade to more advanced, future-proof technology like Lucasys Tax.

Lucasys Depreciation Simplifies Fixed Asset Tracking for Utilities

Lucasys Depreciation was designed to streamline depreciation for utilities, with advanced reporting and dashboard functionality that make it easier for financial and tax teams to stay compliant while saving time and effort. Calculating and tracking fixed asset depreciation can be a complicated and time-consuming process, especially for rate-regulated utilities. Large quantities of assets and strict accounting regulations add complexity to what should be a straight-forward process. Whether you're a finance professional, tax professional, or someone interested in learning more about how technology can simplify complex financial processes, Lucasys Depreciation has the answers.