News & Analysis as of

Tax Cuts and Jobs Act Income Taxes Oil & Gas

Vinson & Elkins LLP

One Big Beautiful Bill Act: Key Tax Impacts for Businesses

Vinson & Elkins LLP on

On July 4, 2025, President Donald J. Trump signed the One Big Beautiful Bill Act (the “OBBBA”) into law. Congress passed the OBBBA through budget reconciliation, a special legislative process that allows Congress to advance...more

Ruder Ware

Increase in Gasoline Prices Means Increase in Optional Standard Mileage Rates for 2022

Ruder Ware on

The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2022, and the increase in rates...more

Brownstein Hyatt Farber Schreck

Year-End Spending Bill Includes Tax Extenders, Disaster Tax Relief

Just past midnight on Dec. 17, lawmakers released an amendment to one of two spending bills released on Dec. 16—H.R. 1865—the Further Consolidated Appropriations Act of 2020. Most notably, the amendment included an extension...more

McGuireWoods LLP

FERC Clarifies Process for Evaluating Gas Pipeline Rates in Light of Income Tax Cuts

McGuireWoods LLP on

July 26, 2018 On July 18, in two companion orders, the Federal Energy Regulatory Commission (FERC): (1) affirmed the Revised Policy Statement on Treatment of Income Taxes, and (2) provided guidance regarding the treatment of...more

King & Spalding

FERC Initiates Sweeping Reform of Ratemaking Treatment for Income Taxes

King & Spalding on

On March 15, 2018, the Federal Energy Regulatory Commission (FERC) released a series of issuances intended to address the need to reflect the lower maximum corporate income tax rate adopted under the Tax Cuts and Jobs Act of...more

Jones Day

FERC Announces Initiatives Regarding Income Tax Cost Recovery for Pipelines and Utilities

Jones Day on

The Situation: The United Airlines, Inc. v. FERC decision and the reduction of corporate income tax rate in the Tax Cut and Jobs Act significantly lowered the tax costs able to be included in the jurisdictional rates of...more

Orrick, Herrington & Sutcliffe LLP

FERC Abandons Tax Allowance in MLP Pipeline Rate Setting and Signals Changes Due to Tax Act Rate Drop

On Thursday, March 15, 2018, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued a series of orders and notices to address changing the treatment of income tax costs in rate setting for oil and natural...more

Cadwalader, Wickersham & Taft LLP

FERC Addresses Effects of Tax Cuts on Jurisdictional Rates and Disallows Income Tax Component in MLP-Owned Partnership Pipeline...

On March 15, 2018, the Federal Energy Regulatory Commission (“FERC”) issued an order on remand disallowing an income tax component in cost-of-service rates charged by an interstate oil pipeline owned by a master limited...more

King & Spalding

FERC Comes Under Pressure to Reduce Pipeline and Other Regulated Rates to Reflect Changes in the Corporate Income Tax Rate

King & Spalding on

Late last year, Congress passed the Tax Cuts and Jobs Act of 2017, which the President signed into law on December 22, 2017. A central feature of the Act is the reduction of the maximum corporate income tax rate from 35% to...more

Orrick, Herrington & Sutcliffe LLP

FERC and the Tax Cuts and Jobs Act of 2017 – Natural Gas Pipelines

The Federal Energy Regulatory Commission (FERC) Staff has initiated inquiries involving numerous interstate natural gas pipelines, seeking information on the impact of the Tax Cuts and Jobs Act of 2017 (Tax Act) on those...more

Davis Wright Tremaine LLP

2018 Tax Law to Reduce Pipeline Expansion Recourse Rates

FERC staff has asked gas pipelines with pending expansion applications how 2018 tax law changes will impact their proposed project’s cost of service and the project’s proposed incremental rates. FERC has imposed a quick,...more

11 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide