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Utility Tax

Utility Tax

The environment in which regulated and non-regulated utilities operate is complex and many tax service providers simply do not have the skills and experience to properly service the industry. At Grant McCarthy Group, we have professionals who are committed exclusively to the power and utility industry. We can assist in numerous areas, including taxation, regulatory compliance and financial accounting. With years of experience and strong relationships within the industry, Grant McCarthy Group can provide invaluable service to companies while also delivering unparalleled value.

Grant McCarthy Group Experience

Federal Tax
Grant McCarthy Group has broad experience with the federal tax issues facing utilities. We have represented clients on numerous matters with the IRS, including audit and appeals issues, private letter rulings, and technical advice memoranda. In particular, Grant McCarthy Group has extensive experience with the IRS National Office requesting permission to change methods of accounting and projects dealing with the re-characterization of capital/expense. Additionally, we have assisted utilities with numerous tax planning issues including the structuring of proposed transactions. Beyond structuring, we have advised clients regarding the maintenance and proper utilization of net operating losses.

State and Local Tax
We have also helped our utility clients on a myriad of state and local tax issues. These include the challenge of a state law as violative of the US Constitution’s Commerce Clause, gain recognition disputes on sale of assets pursuant to deregulation, and audit defense.

Grant McCarthy Group Support

Regulatory/Tax Impact Consulting
At Grant McCarthy Group, we understand the pressures of state and federal regulation. From seeking regulatory approvals to rate case support, Grant McCarthy Group has the experience to lend support dealing with tax issues and their impact on the regulatory function. This includes flow-through/normalization decisions, rate base consulting and other issues concerning the proper impact of taxes in the setting of rates.

Sales Tax
Grant McCarthy Group has a keen understanding of the expenses incurred and assets present in a utility. This knowledge, combined with our overall knowledge of sales and use tax allows us to best provide help on an issue-by-issue basis, on audits, and in reverse sales and use tax refunds.

General Technical Assistance

We regularly provide clients with technical assistance in all areas of state and local tax and are available to answer day-to-day questions.

Learn more about Grant McCarthy Group Consulting’s services.


  • Edison International
  • Food Lion
  • Bed Bath & Beyond
  • Bosch
  • Amazon
  • AT&T