TVA makes tax equivalent payments to governments of $547M
Published: November 20,2013
KNOXVILLE, Tenn. — The Tennessee Valley Authority says it provided $547 million in tax equivalent payments in fiscal year 2013 to states and local governments where it sells electricity or has power properties.
TVA says it makes tax equivalent payments annually in the eight states where it sells electricity or owns generating plants, transmission lines, substations and other assets.
It also makes tax equivalent payments to 146 local governments where it owns power facilities.
The electricity provider says this year’s payments were $32 million less than the $579 million distributed in 2012.
The TVA board has approved estimated tax equivalent payments of $522.4 million for fiscal year 2014, which began Oct. 1. The lower estimate reflects a continuing trend of lower sales and lower revenues due to a slow economy and other factors.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Judge to hear from True the Vote as McDaniel attempts to overturn loss to Cochran
- DAVID DALLAS: Mr. McDaniel goes to Washington
- Under state probe, All American Check Cashing gets ‘F’ rating from Better Business Bureau
- Walker sentenced to 18 months for fraud, conspiracy
- Three indicted, alleged to have embezzled from agency
- Weyerhaeuser investing $57M to modernize lumber mill
- Manning family establishes health care initiative at UMMC
- Google chooses Mad Genius as example of Internet use
- Communities awarded national Main Street accreditation