Inc. revealed today that Lucasys, the leading provider of tax technology and technology-enabled services for regulated utilities, is named to Inc 5000.

On July 4, 2025, President Trump signed into law the highly anticipated One Big Beautiful Bill (OBBB), bringing sweeping changes to tax law and major updates to depreciation and business interest expense provisions. As tax and finance teams across the country begin digesting these new requirements, one thing is clear: the ability to adapt quickly is more important than ever.

Lucasys, the leading tax software and service provider for energy and utilities, announces the release of its Tax Provision software solution. Purpose-built to provide an easy-to-use experience for ASC 740 compliance while also addressing the complex needs of the utility industry, this next-generation solution streamlines tax processes, enhances accuracy, and ensures compliance with unparalleled efficiency.

Significant corporate changes like mergers, acquisitions, or asset purchases always bring uncertainty — but they also present a unique opportunity. For tax teams, M&A activity is often the perfect time — even an urgent imperative — to evaluate processes, systems, and overall readiness for the future.

Consistency is critical when managing large volumes of data, especially in tax and financial systems. Yet, many systems fall short when it comes to maintaining asset numbers across different cases or reports. When an asset is copied to a new case or scenario, the assignment of a new ID disrupts data continuity, making comparisons difficult and unnecessarily time-consuming.

Lucasys Inc, the leading provider of cloud tax software for North American utilities and energy companies, celebrates a milestone moment in business growth by signing its 21st customer. The 21 electric, gas, and water utilities who trust Lucasys to manage their tax fixed asset processes represent more than $600 billion of fixed assets. Utilities around the country are transitioning away from legacy tax software to Lucasys Tax, signaling a growing trend in the utility industry.

At Lucasys, we know that the success of our software starts with the strength of our team. Our staff is made up of highly experienced, skilled professionals who bring both technical expertise and real-world industry insight to every project. This not only makes us a trusted partner for our customers but also drives the development of high-quality, user-friendly systems that meet the unique needs of tax departments.

At Lucasys, we believe that trust and transparency should be at the core of every client relationship—and that includes how we handle your data. In fact, we don’t see it as our data at all. It’s your data, and that principle is reflected in the very foundation of our software.

Tax departments thrive when their systems work for them, not against them. At Lucasys, we recognize that the key to unlocking maximum efficiency and effectiveness lies in simplicity. That’s why our software is purposefully designed to be intuitive and accessible for your entire team—whether they’ve been with you for years or are stepping into their role on day one.

Hope Utilities, a leading provider of US natural gas and water distribution services, has built upon their previous success with Lucasys and expanded their use of the Lucasys Tax solution by implementing its Deferred Tax application. Building on the successful implementation of Lucasys for Tax Depreciation, this milestone in Hope Utilities’ technology integration is part of the company’s ongoing commitment to leveraging advanced technologies to optimize operational efficiency and accuracy in financial reporting.

As President-elect Trump prepares to return to the White House alongside a Republican-led Congress, investor-owned utilities (IOUs) are looking at a landscape ripe for transformation. From extensions of his 2017 tax cuts and potential new tariffs to increased focus on energy production, major policy changes that directly impact the utility sector are likely on the horizon. To stay resilient in this evolving environment, IOUs need to act now.