This week, we are proud to share that American Electric Power (AEP), one of the largest regulated electric utilities in the United States, has selected Lucasys’ Tax Depreciation and Deferred Tax products to manage their tax fixed assets. This expands AEP’s existing use of the Lucasys Tax Suite to four licensed applications.

A note from our founder

Eight years ago, regulated utilities had exactly one option for tax fixed asset software, and it was built in the '90s on client-server architecture. Today, dozens of utilities and asset-intensive companies trust Lucasys’ cloud-native, modern, and intuitive solutions.

This week marks our eighth anniversary as a company, and I want to take a moment to reflect on how we got here. The story isn't really about us. It's about the customers and the team who made every chapter possible.

This week, Lucasys announced that multiple oil & gas companies have subscribed to the Lucasys Income Tax Suite. The new customers collectively manage more than $200 billion in property, plant, and equipment across North America, with operations spanning more than 30 U.S. states and Canada.

The two parts of the name Lucasys – Luca and systems – come from 3 ideas that intersect in our work.

Lucasys has successfully completed the renewal of the SOC 1 Type II and SOC 2 Type II certifications, reinforcing our continued commitment to security, control, and financial accuracy.

Costs are rising, and tax rules are becoming more complex. This makes utility companies rethink how they handle their back-office work. Old tax systems, often run with separate systems and manual steps, can't keep up with today's rules. Especially since 95% of organizations are interested in running ERP (Enterprise Resource Planning) in the cloud.

Yesterday’s news signaled something important: the technology industry is beginning to confront the energy reality of artificial intelligence.

In a significant development for corporate taxpayers, the IRS has released Notice 2026-7, providing additional interim guidance on the application of the Corporate Alternative Minimum Tax (CAMT). This guidance is particularly relevant for investor-owned utilities that are subject to the CAMT due to their financial statement income exceeding $1 billion.

As 2025 comes to a close, we’re taking a moment to reflect on a year of meaningful progress at Lucasys. This year was about more than growth metrics or feature releases; it was about building smarter, faster, and more reliable tools for the tax and industry professionals who rely on us every day.

In today's hyper-connected world, cloud reliability isn't just a nice-to-have—it's essential for businesses, especially in regulated industries like utilities and energy. The recent global AWS outage on October 20, 2025, serves as a stark reminder of this reality. Triggered by DNS issues affecting DynamoDB in the US-EAST-1 region, the disruption caused widespread downtime for major platforms, including Amazon's own services, Snapchat, Roblox, Fortnite, banks, airlines, and delivery apps.

Last week, the Edison Electric Institute (EEI) released compelling new data highlighting the massive capital expenditures planned by America's investor-owned electric companies for 2025. According to the report, these companies are projected to invest nearly $208 billion to enhance the nation's energy grid—making it smarter, stronger, more efficient, and more secure.

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.

We’re excited to share that Lucasys has successfully completed its SOC 1 Type II certification—a significant milestone that highlights our unwavering commitment to security, control, and financial accuracy for our customers. At Lucasys, we understand the responsibility that comes with delivering software and services that directly impact our customers’ financial reporting.

We’re excited to announce that Lucasys’ suite of tax applications is now available on the SAP® Store! This milestone follows our recent partnership within the SAP® PartnerEdge® Open Ecosystem, reflecting our commitment to delivering innovative, purpose-built solutions for rate-regulated utilities and asset-intensive businesses.

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.

At Lucasys, we are deeply committed to serving North America’s utilities and energy companies, an industry that forms the backbone of modern life. The recent widespread power outage across Spain, Portugal, and parts of southern France on April 28, 2025, as reported by CNN, serves as a stark reminder of just how critical this sector is to communities, economies, and everyday existence.

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.

Lucasys, the premier provider of cloud-based software and services for rate-regulated utilities, announces the successful renewal of its SOC 2 Type II certification. This milestone underscores Lucasys’ unwavering commitment to data security, operational excellence, and delivering trusted financial solutions to North America’s utility and energy sectors.

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.