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.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Silver Airways ordered to continue service
- Seafood R’evolution set to make Mississippi ‘the new culinary epicenter of the South’
- Bryant signs controversial abortion ban bill
- Soybean yield more than doubles in less than a decade
- Two Delta groups getting economic development funding
- Pharma Pac lays off rest of workers; could end up owing state
- Plans unveiled for large shooting range on Coast
- Ole Miss launches commitment to be 'climate neutral'
- Yarber could be sworn in today as new Jackson mayor
- Biloxi baseball project still alive but may be held for 2015