State to get more fees in lieu of taxes from TVA
by Associated Press
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
- Fervor grows for Tuscaloosa Marine Shale
- Click Boutique revives Hattiesburg downtown retail district
- KEEPING OUR EYE ON: Elizabeth Harris
- District at Eastover construction to start later this year
- TROTTER: Social security claiming strategies
- Small business owners take picture perfect advantages with Instagram
- Nullification and interposition
- Froyo y’all: Couple brings 'delicious' dessert to Delta
- Brown would make history if confirmed as judge