Electric Cooperatives and Tax Reform: One Year Later - the Good, the Bad and the Ugly

Date: Tuesday, April 23, 2019
Time: 02:00 PM ET / 01:00 PM CT / 12:00 PM MT / 11:00 AM PT [Prevailing Time]
Presenter(s): Bill Miller, CPA - Tax Partner, Bolinger, Segars, Gilbert & Moss, LLP; David Cook, Jr., Autry, Hall & Cook, LLP
Learning Objectives:
This session will be an overview of implications for Electric Cooperatives resulting from the recent Tax Reform Act.
Field of Study: tax
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.

Course Description

A driving force behind income tax reform brought on by the Tax Cuts and Jobs Act of 2017 was to provide corporate income tax relief. This was accomplished by replacing the tiered corporate income tax rates and highest effective rate of 35% with a flat rate of 21%. However, to pay for the lower corporate tax rate there were both winners and losers. Tax-exempt and taxable electric cooperatives are no different. They must now deal with changes in tax law that have intended consequences (both good and bad), unintended consequences (mostly bad) and the hard to believe consequences (the ugly).

Presenter and Moderator Bios
Bill Miller, CPA is a tax partner at the accounting firm of Bolinger, Segars, Gilbert and Moss in Lubbock, Texas. He began his career with the firm in 1992 and holds an accounting degree from the University of Texas at Austin.

Bill is in charge of the firm?s utility and cooperative tax practice. The goal of his department is to provide tax and consulting services to the firm?s exempt and non-exempt utility cooperative audit clients, including subsidiary companies. His responsibilities include:

*Structuring plans to allocate and redeem patronage capital;
*Advising on entity selection for new business ventures; and
*Tax research, tax planning and preparation of applicable federal and state income tax returns.

David Cook has advised cooperatives on the proper treatment and management of capital credits and patronage dividends. He has assessed risk arising from cooperatives? capital credit policies and practices, and implemented recommendations for minimizing such risk. Because of his expertise in the legal, tax, and financial aspects of cooperative operation, he can discuss capital credit accounting and characterization with management and explain such details in understandable terms to boards of directors.

Free for NSAC Members / $70.00 for Non-Members

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.


All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.