State to get more fees in lieu of taxes from TVA
Published: February 13,2012
NORTH MISSISSIPPI — The Tennessee Valley Authority expects to pay about $7 million more in fees in lieu of taxes to the state of Mississippi in fiscal year 2012 versus the past fiscal year.
Federal government-owned corporations like TVA pay fees to states where they operate in lieu of state property taxes.
TVA spokesman Mike Bradley tells the Starkville Daily News the methods TVA uses to calculate those fees vary from state to state.
Bradley said in Mississippi, fees equal 5 percent of gross power sales, amounting to $33.1 million fiscal year 2011.
Andy Schoerner, TVA program manager for tax equivalent payments, said projections call for TVA to pay $567.4 million in fees across the seven states where it provides electricity in fiscal year 2012, compared to $529.6 million paid in fiscal year 2011.
For Mississippi, he said that means $40.1 million this year, an increase of about $7 million.
State law sets out how fees will distributed to cities and counties served by TVA.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Barbour to lead Butler Snow economic development firm
- (UPDATE) Prison won’t interrupt ex-prison chief’s retirement cash flow
- Kemper plant employee gag order continued
- Delta State conference brings renowned speakers
- (UPDATE) Judge rules on Google request on attorney general inquiry
- The leadership styles of President Obama
- Ex-prison boss and businessman admit to bribery scheme
- MARTIN WILLOUGHBY — Doug Dale’s self-awareness helps lift him to top of his game
- Analysis: Lawmakers squabble over election-year tax cuts