GableGotwals advised Boardwalk Pipelines, LP, in its acquisition of Spire Marketing Inc., a gas marketing business unit, from Spire Inc. The acquisition marks a significant step in advancing Boardwalk’s long-term growth strategy by expanding its presence across the natural gas value chain.

March 31, 2026 | GableGotwals recently advised Boardwalk Pipelines, LP, in its acquisition of Spire Marketing Inc., a gas marketing business unit, from Spire Inc. The acquisition marks a significant step in advancing Boardwalk’s long-term growth strategy by expanding its presence across the natural gas value chain, enhancing marketing capabilities and customer reach, and increasing flexibility and connectivity for customers while supporting the evolving demands of America’s energy market. Click here to read the full press release.

The transactional team consisted of Stephen W. Lake, Douglas J. May, Jeffrey D. Hassell, James M. Scears (who provided tax advice), and Bailey Barnes.

About Boardwalk Pipelines, LP

Boardwalk Pipelines, LP (“Boardwalk”) delivers reliable energy by connecting natural gas supply with the markets and communities that depend on it. Through an integrated network of interstate and intrastate pipelines and underground storage assets, Boardwalk supports energy reliability, market connectivity, and long-term value creation across the United States, including the Gulf Coast, Midwest, and Southeast. Boardwalk is committed to operating‑safely, reliably, and responsibly while evolving its capabilities to better serve customers in a dynamic and increasingly complex energy market. Learn more at bwpipelines.com.

About GableGotwals

GableGotwals® is a full-service law firm with more than 100 attorneys and 70 other business professionals in Oklahoma and Texas. We represent a diversified client base across the nation, and our connections and reach are global. Fortune 500 corporations, privately owned companies, entrepreneurs, foundations, and individuals entrust us every day with the stewardship and strategic management of their legal challenges.

May 5, 2025 | GableGotwals is pleased to announce that Mark Nawfal has joined the Houston office as Of Counsel, where his practice will focus on mergers and acquisitions, taxation, and energy law.

Mark has more than 15 years of international legal experience advising multinational companies, private equity funds, and partnerships on a wide range of corporate and transactional matters. He represents clients in domestic and cross-border mergers and acquisitions, joint ventures, leveraged buyouts, restructurings, corporate governance, inbound and outbound tax planning, tax efficient restructuring, foreign investment matters, energy infrastructure projects, and the negotiation of complex commercial contracts. Mark also counsels clients on U.S. compliance and anti-corruption laws.

Prior to joining the Firm, Mark practiced at law firms in Houston, New York, and the Middle East.

“We are excited to welcome Mark to GableGotwals as we continue to expand our Houston office. His extensive international experience in mergers and acquisitions, taxation, compliance, and anti-corruption enhances our ability to serve clients across various industries. Mark’s addition reflects our ongoing commitment to strategically growing our presence in Texas and delivering excellent legal services to our clients,” said John Dale, CEO of GableGotwals.

Mark earned his J.D. from Northeastern University School of Law, holds an LL.M. in Global Energy from The University of Texas at Austin School of Law, and an LL.M. in Taxation with a Certificate in International Taxation from Georgetown University Law Center. He received his B.A. in Economics and International Relations from Tufts University. Mark is admitted to practice in Texas, New York, and Florida.

About GableGotwals

GableGotwals® is a full-service law firm with nearly 100 attorneys and more than 70 other business professionals in Oklahoma and Texas. We represent a diversified client base across the nation, and our connections and reach are global. Fortune 500 corporations, privately owned companies, entrepreneurs, foundations, and individuals entrust us every day with the stewardship and strategic management of their legal challenges.

As the expiration of key provisions in the Tax Cuts and Jobs Act (TCJA) approaches in December 2025, individuals and businesses alike must prepare for potentially significant tax changes, assuming that current law is not extended in some fashion. Understanding these potential changes and implementing proactive strategies can help mitigate negative impacts. Here are five key considerations to keep in mind if existing law expires at the end of the year:

1. Reversion to Pre-TCJA Individual Tax Rates
One of the most significant changes expected is the reversion of tax rates to pre-TCJA levels. The highest individual tax rate is set to increase from the current 37% back to 39.6%. Additionally, the standard deduction and personal exemptions will likely change, impacting tax liability for many individuals. Proper tax planning, including income shifting and deduction strategies, can help minimize tax burdens.

2. Changes to Estate and Gift Tax Exemptions
Under the TCJA, the estate and gift tax exemption is currently $13.99 million per person ($27.98 million for married couples) in 2025. However, in 2026, this exemption is expected to be reduced by about half, to approximately $7 million per person. High-net-worth individuals should consider leveraging gifting strategies, trusts, and other estate planning tools before the exemption decreases.

3. Business Tax Provisions and Expiring Deductions
For businesses, key provisions such as the 20% Qualified Business Income (QBI) deduction for pass-through entities are set to change. The bonus depreciation rules, which previously allowed 100% expensing, is also phasing out, with only 40% expensing allowed in 2025 and just 20% in 2026. Business owners should reassess depreciation schedules, investment strategies, and structuring opportunities to optimize tax positions.

4. Qualified Opportunity Zones (QOZs) and Investment Incentives
Qualified Opportunity Zones continue to offer tax benefits for investors, but the window to take advantage of the incentives is narrowing. While the program may be extended, current law requires investment by around mid-2027 at the latest to unlock tax benefits. Investors should assess opportunities within QOZs before it’s too late.

5. Potential Legislative Changes and Political Uncertainty
The political landscape will play a crucial role in determining whether some TCJA provisions are extended, modified, or allowed to expire. While House and Senate budget proposals differ significantly, taxpayers should remain informed and flexible in their planning. Issues such as the state and local tax deduction cap, child tax credits, QBI deduction, and carried interest rules may see significant revisions, depending on legislative negotiations.

Final Thoughts
With TCJA changes on the horizon, proactive tax planning is essential. Individuals and businesses should work closely with financial advisors, CPAs, and legal professionals to develop strategies that optimize tax efficiency and minimize financial disruptions. Staying ahead of these changes will help taxpayers navigate the evolving landscape with confidence.

Mark Sheets
Partner, Tax – Private Client Services
405-594-9160

Rhonda Goddard
Partner, Tax – Private Client Services
405-594-9168

James Scears
Shareholder
918-595-4879

This article is provided for educational and informational purposes only and does not contain legal advice or create an attorney-client relationship. The information provided should not be taken as an indication of future legal results; any information provided should not be acted upon without consulting legal counsel.