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SUPPORT


VVEC and KAMO Power Pay More than $1.5 Million in Taxes to Area Schools


Everyone agrees a good education is important. And everyone agrees there is a lot involved in giving students a good education.


That is why VVEC provides financial support to school systems in our service territory through the payment of gross receipts taxes.


The 2% gross receipts tax is collected from members’ monthly electric bills at the instruction of the Oklahoma Tax Commission.


Each year VVEC pays those taxes to the Commission based on miles of line the co-op has in each school district. In 2010, VVEC paid more than $1.1 million.


KAMO Power, VVEC’s wholesale power supplier, also pays gross receipts taxes. Coupled with the taxes VVEC paid, over $1.5 million in taxes was paid to school systems in our area. This mon- ey is used by schools to purchase needed equipment, supplies and study aids. Most people believe that because electric cooperatives are non-profit busi- nesses we don’t pay taxes. But that’s not true.


Cooperatives don’t pay income tax, but we still pay several taxes businesses are required to pay. We feel contribut- ing to the education of our youth is an important benefit of our tax dollars. We view it as an investment in our service territory and in our future. The accompanying chart shows the approximate amounts VVEC and KAMO Power paid each school district in our service territory in 2010.


2010 Receipts Tax by Amount


School District


Oklahoma Union Oologah Caney Valley Owasso


Collinsville Skiatook Bowring Nowata Barnsdall Dewey


Claremore Sequoyah Bartlesville Sperry Copan Justus Avant Foyil


Pawhuska


South Coffeyville Chelsea Hominy Claremore Sand Springs Verdigris Catoosa Prue Tulsa


Anderson Osage Hills Inola


Chouteau-Mazie School District VVEC


$96,683.93 87,478.91 87,344.23 77,605.79 63,225.64 58,636.59 57,351.43 53,506.97 51,593.92 50,398.36 45,491.60 40,934.69 40,634.62 31,523.97 26,084.69 24,740.24 24,031.39 21,705.05 20,628.77 19,834.53 19,253.81 18,782.52 17,938.87 12,802.53 12,491.10 11,345.08 9,331.62 9,299.40 5,914.12 3,762.07 602.80


$1,100,959.24 KAMO


$39,497.24 86,996.71


46,691.90 42,543.97


33,844.29 Total


36,927.72 36,377.11


92,576.25 31,054.52


9,213.58


12,223.59 1,908.79


$469,855.67


$136,181.17 87,478.91 174,340.94 77,605.79 109,917.54 101,180.56 57,351.43 53,506.97 85,438.21 50,398.36 45,491.60 40,934.69 40,634.62 31,523.97 26,084.69 61,667.96 24,031.39 58,082.16 20,628.77 19,834.53 111,830.06 18,782.52 48,993.39 12,802.53 12,491.10 20,558.66 9,331.62 9,299.40 5,914.12 15,985.66 2,511.59


$1,570,814.91


September 2011 VVEC Power Circuit 3


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