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Dickstein Shapiro has represented regulated utilities, independent generators, and other energy clients on a wide range of energy-related tax matters. This includes all of the tax issues that arise in connection with the purchase, sale, and financing of electric generating facilities, natural gas pipelines, “midstream” natural gas processing facilities, and natural gas storage and distribution facilities. The firm also assists clients with the types of tax matters described below:

• Establishing foreign holding company structures to avoid “Subpart F” income for U.S. investors in foreign projects;
  
• Analyzing foreign tax credit and overall foreign loss issues in connection with the repatriation of foreign earnings;
  
• Ownership structuring, including the use of preferred partnership interests and “reverse section 704(c) allocations” to obtain tax advantages for investors analogous to those in leveraged leasing;
• Developing regulatory strategies in connection with tax normalization, both on behalf of utilities selling regulated generation assets, and on behalf of customers of regulated pipelines structured as master limited partnerships; and
  
• Advising underwriters in connection with the sale of units in master limited partnerships in the United States and a client in connection with the sale of income trust units in Canada.

In addition, Dickstein Shapiro’s experience in the area of contributions in aid of construction (CIAC) is second to none. The firm’s attorneys have advised both utilities and generators in connection with drafting and negotiating the contributions in aid of construction (CIAC) tax provisions in interconnection agreements. Dickstein Shapiro also organized and coordinated the Tax Subgroup of the Interconnection Agreement Drafting Group, which drafted and negotiated the consensus tax provisions adopted by FERC in its Standardized Interconnection Agreement Notice of Proposed Rulemaking (NOPR). The firm has also obtained a number of private letter rulings with respect to CIACs and the tax treatment of transmission credits.