Lucasys Expands Tax Suite With Launch Of Tax Repairs, A New Core Application For Utilities And Energy Companies

(MENAFN- GlobeNewsWire - Nasdaq) ATLANTA, June 01, 2026 (GLOBE NEWSWIRE) -- Lucasys Inc, a leading provider of cloud tax software for North American utilities and energy companies, announced today the launch of Lucasys Tax Repairs, the newest core application added to the Lucasys Tax Suite. Lucasys Tax Repairs is purpose-built to help asset-intensive organizations automate the classification of spending as repairs or capital improvements, replacing manual, spreadsheet-driven processes with a modern, connected, and audit-ready solution.

For utilities and energy companies, infrastructure spending never stops and includes thousands of work orders, constant maintenance, and continuous capital investment. Yet for many tax teams, the question of whether each dollar spent should be deducted as a repair or capitalized as an improvement is still answered through disconnected data pulls, layered spreadsheets, and lengthy review cycles. Lucasys Tax Repairs changes that. The application automatically evaluates spending across lines of business, work orders, and asset additions, applies consistent rules to classify costs as repairs or improvements, and connects directly to source systems to keep tax aligned with accounting data.

“Lucasys Tax Repairs was built from the ground up for the complexity of utility and energy asset accounting. We know these organizations are managing thousands of work orders across multiple lines of business and that every classification decision needs to be defensible. Tax Repairs gives tax teams a traceable, automated, and scalable way to handle that process with confidence.”
-Stephen Strang, Co-Founder and CTO of Lucasys

Lucasys Tax Repairs delivers full transparency from the original transaction to the final tax position, creating a clear, easy to understand, and audit-ready trail for every classification decision. Built-in analytics provide instant visibility into repair versus capitalize outcomes by company, line of business, or asset class, giving tax teams the insight they need to confidently support regulatory filings and respond to audits.

Lucasys Tax Repairs joins as a core application within the Lucasys Tax Suite, extending the platform's coverage across the full lifecycle of utility and energy tax compliance. The addition reflects Lucasys' ongoing commitment to building the most comprehensive, purpose-built tax platform available to asset-intensive industries, delivering better functionality, deeper automation, and greater scalability than legacy alternatives.

“Tax Repairs represents the next chapter for the Lucasys Tax Suite. Utilities and energy companies manage enormous volumes of work orders and plant spending every year, and the repair versus capitalize determination carries real tax consequences. We built Lucasys Tax Repairs to bring the same level of automation, accuracy, and auditability that our customers expect from the rest of our platform - directly to this critical workflow.”
-Vadim Lantukh, Co-Founder and CEO of Lucasys

Tax Repairs follows a strong year of product innovation at Lucasys. In 2025, the company launched Lucasys Tax Provision, a purpose-built ASC 740 and ASC 980 compliance solution for utilities, and Lucasys AI, an agentic artificial intelligence platform built specifically for tax professionals - each expanding the capabilities of the Lucasys Tax Suite and reinforcing the company's trajectory as the platform of choice for utility and energy tax teams.

Behind Lucasys' innovative solutions is a team of industry veterans with extensive business, technology, and regulatory experience. The Lucasys team brings decades of industry expertise in finance, technology, and consulting. Their combined experience ensures that Lucasys delivers cutting-edge software while providing unparalleled support and industry insights to its customers.

“Our team has deep experience implementing tax solutions for utilities and energy companies, and we understand what it takes to make a new application successful in these environments. We are committed to ensuring every Lucasys Tax Repairs customer is up and running quickly, with full confidence in their data and their process from day one.”
-Daniel Chang, Co-Founder and COO of Lucasys

Lucasys' commitment to excellence is further demonstrated by its responsive support and continuous improvement efforts. The company works closely with its customers, incorporating feedback into product development to ensure that solutions remain aligned with evolving industry needs. With a growing customer base spanning investor-owned utilities, energy companies, and other asset-intensive organizations across North America, Lucasys is well-positioned to continue expanding its platform and providing even more best-in-class technology innovations for its customers.

About Lucasys

Lucasys delivers software and technology-enabled services to empower finance, accounting, and tax professionals in asset-intensive industries to optimize the financial performance of their fixed assets and proactively meet changing regulatory and compliance requirements. With a core focus on rate-regulated utilities, Lucasys provides the industry and domain expertise utilities require to meet their business objectives. To learn more about Lucasys, visit or follow us on LinkedIn.

Contact: Tommy Ferguson, CMO, Lucasys
1-844-582-2797
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