FERC Income Tax Changes Could Impact Entire Energy Sector
Law360, New York (December 21, 2016, 5:30 PM EST) -- Levi McAllister
In its last open meeting of calendar year 2016, the Federal Energy Regulatory Commission took several steps signaling its intention to continue robust oversight over the energy industry. Among those steps, perhaps none has more potential to impact all sectors of the energy industry than FERC's notice of inquiry (NOI) concerning the treatment of income taxes for ratemaking and cost recovery purposes by pass-through entities.
This past summer, the Court of Appeals for the D.C. Circuit found that FERC's existing income tax allowance policy and rate of return policy, when applied to pass-through entities such...
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