PAGE 2 | LIVEWIRE | AUGUST 2016


Tax helps local schools I


n 2015, TCEC members with service in Oklahoma contributed more than $1.8 million to local secondary schools through the state’s gross receipts tax. This two percent tax appears on electric bills under the ‘other taxes’ line item. The taxes are allocated based on the number of miles of electric line in the school district. The gross receipts tax directly benefits local schools in the cooperative’s service territory, with 95 percent of funds collected being distributed to them. The remaining 5 percent goes toward the state’s


administrative costs. This is yet another way electric cooperatives and their members support local youth. See the chart on this page showing how the Oklahoma gross receipts tax collected in 2015 was allocated.


This tax benefits our local schools, helping to provide a better learning environment and education for our youth.”


Schools the cooperative serves in Kansas and Texas are not included because the tax is for the state of Oklahoma only.


TCEC pays gross receipts taxes to the Oklahoma Tax Commission every year. In 2015, the cooperative paid taxes on 5,181 miles of line, or $354 per mile of line. The Oklahoma Tax Commission is responsible for allocating and distributing the funds to schools. Schools may use these funds in a variety of ways, but the local school boards have final say in how the money is spent. TCEC CEO Zac Perkins


said, “This tax benefits our local schools, helping to provide a better learning environment and education for our youth.” Learn more about TCEC’s school support at www.tcec.coop. n


2014 OKLAHOMA GROSS RECEIPTS TAX ALLOCATION


School Balko


Beaver


Boise City Felt


Forgan


Goodwell Guymon Hardesty


TOTAL


Miles 560 282 644 200 189 249 686 268


Dollars School $198,014 Hooker $99,948 Keyes $227,898 Optima $70,686 Straight $66,770 Texhoma $88,211 Turpin


$242,853 Tyrone $94,719 Yarbrough


Miles 381 256 67


184 247 437 93


438 5,181 Dollars


$134,832 $90,440 $23,603 $65,132 $87,484 $154,726 $32,901


$154,940 $1,833,158


Save the date for


annual meeting Mark your calendars for TCEC’s annual meeting of the membership. Enjoy a free barbecue meal while hearing an update on your electric cooperative. Plus, every member who attends will receive a free gift. Many members in attendance will win door prizes. One lucky member will win a $500 grand prize. Don’t miss this fun opportunity to be part of your local electric cooperative.


WHEN Thursday, September 22 5:30 p.m. Registration and Meal 6 p.m.


Business Meeting


WHERE Texas County Activity Center 5th Street and Sunset Lane Guymon, Oklahoma


We’ll see you there! n


Energy Efficiency Tip of the Month


Consider insulating your water heater tank, which could reduce standby heat losses by 25 to 45 percent and save you about 4 to 9 percent in water heating costs. You can find pre- cut jackets or blankets available from around $20.


Source: energy.gov


Electrical Safety Tip of the Month


One of the most important safety tips you can give your kids is to avoid any downed power lines. In fact, it is best to avoid power lines, transformers and substations in general.


Source: NRECA


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