1-Hour Program

See Credit Details Below

Overview

Taken from the Audio-only Briefing Tax Reform – Significant Changes for the Energy Industry Recorded September 2018 in New York

CPE credit (NASBA QAS Self-Study) is available by completing and passing the program’s CPE Review & Exam.

Upon the successful completion of this program, the participant will be able to:

  • Recall the impact of the domestic provisions of the Tax Cuts and Jobs Act (TCJA) on the energy industry.
  • Recognize the impact of the international provisions of the Tax Cuts and Jobs Act (TCJA) on the energy industry.
  • Describe the impact of the Tax Cuts and Jobs Act (TCJA) on specific sectors of the energy industry.

    Course Overview:

    This program will focus on:

  • The impact of the domestic provisions of the Tax Cuts and Jobs Act (TCJA) on the energy industry.
    • Corporate income tax rate reduction
    • Repeal of the corporate alternative minimum tax (AMT)
    • Restrictions on net operating loss (NOL) utilization
    • Changes to pass-through taxation
    • Limitation of interest deductibility
    • Changes to depreciation rules
    • Other domestic changes
  • The impact of the international provisions of the Tax Cuts and Jobs Act (TCJA) on the energy industry.
    • Territorial corporate tax system
    • Deemed repatriation of deferred foreign earnings
    • Base-erosion anti-abuse tax (BEAT)
    • Global intangible low-taxed income (GILTI)
    • Other international changes
  • The impact of the Tax Cuts and Jobs Act (TCJA) on specific sectors of the energy industry.
    • Master limited partnerships (MLPs)
    • Renewable energy
    • Power projects
    • Regulated utilities

CPE Program Level:  Update

Intended Audience:  CPA’s, tax accountants, tax lawyers, taxpayers, compliance professionals, and others with experience in the domestic and international energy industry seeking the latest information on the impact of the Tax Cuts and Jobs Act (TCJA).

Prerequisites:  A background in accounting, tax, legal, or compliance work in the energy industry.

Advanced Preparation:  None

Instructional Method:  QAS Self-Study

Updated:  November 2018

Credit Information:  1 CPE credit is available upon completion of this program’s 3 content-review questions and a minimum passing score of 70% on the 5-question final exam. 

Tax Reform – Significant Changes for the Energy Industry [01:04:00]

This One-Hour Briefing will help you understand provisions of the Tax Cuts and Jobs Act most relevant to each segment of the energy industry including oil and gas as well as conventional and renewable power.  Our panel will review the applicable domestic tax rate changes, the new territorial tax system, and the limitation and expansion of various business deductions and credits. 

Michelle M. Jewett, a partner in the tax department of Stroock & Stroock & Lavan LLP, will discuss:

  • Fundamental business tax changes including reduced corporate rates, the qualified business income deduction, repeal of the corporate AMT, and the impact of the interest deduction limitation and immediate expensing
  • Impact of the international tax changes such as the semi-territorial corporate tax system, deemed repatriation of deferred foreign earnings of 10%-owned foreign corporations, taxation for global intangible low-taxed income (“GILTI”) for U.S. shareholders of CFCs, and the base-erosion anti-abuse tax (“BEAT”)
  • Changes affecting the attractiveness of investments in MLPs
  • Changes in the business tax regime impacting the value of energy tax credits
  • Additional tax changes affecting power projects and utilities

Credit Details