Stage 4 (2022) “Tax Doesn’t Have to Be Taxing”


You are an analyst who is considering building a solar farm in the Federated States of Modellandia. Modellandia is made up of 6 different states, which due to Modellandia’s recent confederation, each has wildly different tax treatments. Differences in the shareholder return will be driven by both the weather in each state (sunnier states will obviously generate more revenue) and the tax treatment – and you have been tasked with modeling each of them. With the exception of the bonus questions, each of the different tax treatments is independent of each other, and they are not necessarily in order of difficulty.

This is an actual case study that was presented to the participants of the Financial Modeling World Cup 2022, Stage 4 (June 10-13). The downloadable file consists of the following:

Task: PDF file with Case Materials; PDF file with Questions; Excel file with initial data and case assumptions
Solution: Excel file with full Solution Model; PDF file with correct Answers in Bold