One of our large midstream pipeline operators had a FERC regulated asset in a state that allows for the removal of intangible assets in the appraisal. We needed to take an aggressive stance on intangibles and secure a win for the client, proving our case through aggressive analysis, energy-focused ASA expertise that spans decades, and our relationships with the state.
Midstream Utilization vs. Value
A client had non-taxable items built into the Fair Cash Value of a FERC regulated asset. The challenge was proving to the state that the items that they were assessing were intangible and therefore not taxable.
A tax savings of over $300,000 for our client based on the proposed to final value for the tax year.