I asked this question because I am afraid I have been over-designing these in the past for folks wanting to build a detached garage or shop. If they want to just come off the load side of the meter, drop down to below grade out to their new garage and hit their new garage panel with service conductors then they can save a lot of money over installing an extra breaker, etc. Seems most folks prefer having a main breaker in their shop panel anyway. I just got schooled on the 240.21(B)(5) which allows that long tap run to be installed U/G with the OCPD located at or near the point where the feeder surfaces. That, combined with what I think I'm reading in 230.40 leads me to believe that what you are proposing is, indeed, correct and I have been overdesigning these in the past. Please correct me if I'm wrong. Also, am I correct in my understanding that this is not technically a "tap" due to being service conductors?