Coop Employees See Added Pension Security
Posted on Dec 18, 2014 in Corporate Governance, Legislative & Politics, Tax | Comments Off on Coop Employees See Added Pension Security
President Obama recently signed into law a new measure to ensure that current coop employees under the age of 62 maintain access to the “quasi-retirement” feature of the NRECA Retirement Security Plan. Absent the new law, these employees would not receive the full distribution earned and for which electric coops have paid. To learn more about this exciting development, please click...
Texas Commission on Environmental Quality Says Texas Coop Must Pay Taxes on Steam Generator Equipment
Posted on Sep 26, 2014 in Environmental, Regulation & Policy, Tax | Comments Off on Texas Commission on Environmental Quality Says Texas Coop Must Pay Taxes on Steam Generator Equipment
The Texas Commission on Environmental Quality (TCEQ) has ruled that South Texas Electric Cooperative, Inc. and several other power providers must pay property taxes on their steam generator equipment. The power providers argued that they were entitled to a state law exemption from ad valorem taxes which applies if the property is used to control pollution in compliance with state...
South Carolina Solar Farm Powering Coops
Posted on Jan 30, 2014 in Project Development, Renewable Energy, Tax | Comments Off on South Carolina Solar Farm Powering Coops
The 3-MW Colleton Solar Farm, last reported by the Sutherland Coop Team on December 26, 2013, is powering coops. Central Electric Power Cooperative, in collaboration with Santee Cooper, will purchase the output produced by over 10,000 photovoltaic panels. Click here for more.
Webinar: Patronage Capital Litigation
Posted on Oct 29, 2013 in Corporate Governance, Derivative Suits, Financing, Litigation, Patronage Capital, Regulation & Policy, Tax, Webinar | Comments Off on Webinar: Patronage Capital Litigation
Since 2009, at least 14 cases have been filed against electric cooperatives over patronage capital (or capital credits) in eight states: Alabama, Arkansas, Georgia, Missouri, New Mexico, North Carolina, South Carolina, and Texas. To help coops understand the surge in this type of litigation, Sutherland will present a live Webinar, “Patronage Capital Litigation,” for...
Michigan Coop Ends 12-Year Tax Dispute with Local Townships
Posted on May 20, 2013 in Litigation, Tax | Comments Off on Michigan Coop Ends 12-Year Tax Dispute with Local Townships
Cherryland Electric Cooperative’s (Cherryland) 12-year litigation with three holdout local townships was settled in advance of a hearing before the Michigan Supreme Court. The controversy, which concerned excess personal property taxes paid by cooperatives from 1999 through 2001, was caused by miscalculations from a flawed form provided by the Michigan Tax Commission. Cherryland had...
Sequestration to Cause CREBs Payments to be Reduced by 8.7%
Posted on Mar 4, 2013 in Financing, Renewable Energy, Tax | Comments Off on Sequestration to Cause CREBs Payments to be Reduced by 8.7%
The Office of Management and Budget has issued its Report to the Congress on the budget sequestration for federal fiscal year 2013 required by the Balanced Budget and Emergency Deficit Control Act of 1985, as amended by the Budget Control Act of 2011. Interest subsidy payments for New Clean Renewable Energy Bonds (New CREBs) are among the federal programs impacted by sequestration. ...
Sequestration to Cause CREBs Payments to be Reduced by 8.7%
Posted on Mar 4, 2013 in Financing, Renewable Energy, Tax | Comments Off on Sequestration to Cause CREBs Payments to be Reduced by 8.7%
The Office of Management and Budget has issued its Report to the Congress on the budget sequestration for federal fiscal year 2013 required by the Balanced Budget and Emergency Deficit Control Act of 1985, as amended by the Budget Control Act of 2011. Interest subsidy payments for New Clean Renewable Energy Bonds (New CREBs) are among the federal programs impacted by sequestration. ...
Michigan Coops Avoid Personal Property Tax Hike
Posted on May 29, 2012 in Regulation & Policy, Tax | Comments Off on Michigan Coops Avoid Personal Property Tax Hike
Body: The Michigan State Tax Commission will continue recognizing system economic factors (SEFs) used to calculate personal property taxes imposed on coops. SEFs take into consideration the economic disadvantages coops face when serving rural customers. The decision will save Michigan coops around $2.8 million a year. Click here for more.
North Dakota Wind Farm Faces Unexpected Taxes
Posted on May 7, 2012 in Innovation/Efficiency, Tax, Technology | Comments Off on North Dakota Wind Farm Faces Unexpected Taxes
Basin Electric Power Cooperative, based in Bismarck, North Dakota, is paying nearly $800,000 in new tax revenue to school districts, counties and other governmental entities, which is about $300,000 more than projected by the South Dakota Public Utilities Commission two years ago. Taxes for the $363 million, 108-turbine wind project, located on 40,000 acres in three counties, are...
North Dakota Cooperatives Pay Coal Conversion Tax Under Protest
Posted on May 3, 2012 in Tax | Comments Off on North Dakota Cooperatives Pay Coal Conversion Tax Under Protest
Basin Electric Power Cooperative and Minnkota Power Cooperative have each paid a North Dakota “coal conversion” tax under protest in anticipation of an upcoming vote by North Dakotans regarding whether to abolish property taxes, which would include the coal conversion tax. If approved, the change would apply retroactively to January 1. The coal conversion tax is assessed based on the...
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