Corporate Tax Rate Changes on the Horizon… Again! What Utilities Need to Know

As the 2024 election season gains momentum, regulated utilities are facing the prospect of significant policy shifts that could dramatically impact their financial landscapes. Vice President Kamala Harris has recently announced that if elected, she plans to raise the corporate tax rate to 28%. This proposal has raised alarms among tax leaders and CFOs within the utility sector, as the potential changes could lead to substantial adjustments in deferred tax liabilities.

Innovation in Tax Fixed Assets: Hope Utilities Adopts Best-in-Class Lucasys Software

Leading natural gas and water distribution services company, Hope Utilities, has implemented Lucasys’ industry-leading tax fixed asset software. Faced with the challenges of maintaining legacy software systems, Hope Utilities recognized the opportunity to streamline their accounting solutions and transform their business processes.

AEP's Data Revolution: Partnering with Lucasys to Prepare for the Next Leap in Tax Technology

American Electric Power (AEP), one of the nation’s largest utility power producers and operator of the nation’s largest electric transmission network, has a longstanding reputation as an industry leader in digital transformation and technological innovation. Successful operations have led AEP to sustained growth, expanding the organization into additional states and service territories while accumulating a blend of data, processes, and technologies.

Summit Utilities Partners with Lucasys to Streamline Tax Fixed Assets

In a pivotal move towards operational efficiency and advanced technology adoption, leading natural gas company Summit Utilities has embarked on a transformative endeavor with premier software and consulting firm Lucasys to revolutionize their tax fixed asset software.

Emerging Cybersecurity Threats: How Utilities Can Prepare

In today's increasingly interconnected world, the threat landscape for US utilities is evolving at an unprecedented pace. As these vital organizations continue to embrace digital technologies to improve efficiency and customer service, they also find themselves in the crosshairs of malicious actors seeking to exploit vulnerabilities. The realm of cybersecurity is fraught with challenges, and understanding the latest threats is essential for safeguarding critical infrastructure.

Corporate Tax Rate Changes Are on The Horizon: What Utilities Need to Know

As the landscape of corporate tax rates remains uncertain, one thing is crystal clear: utilities must be prepared to adapt swiftly when change inevitably arrives. The timing and specifics of these rate adjustments may be hazy, but one proactive step utilities can take is investing in modern tax software that offers flexibility and functionality. Adaptable tax software can empower tax departments to adjust their computations quickly and efficiently in response to evolving tax regulations, ensuring compliance and accurate financial reporting in a dynamic tax environment.