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CVEC contributes $2.35 million to tax coffers
TALLADEGA, Ala. - Coosa Valley Electric Cooperative (CVEC) paid nearly $2.35
million to regional, state and federal coffers in 2002.
CVEC paid $239,792 in ad valorem taxes in 2002, and over the past 5 years, the
cooperative has contributed some $925,974 to this tax.
Revenue from ad valorem taxes goes to several recipients, including school districts,
said Frank Kujawski, CVEC general manager.
"One big myth that cooperatives, including Coosa Valley Electric, constantly
face is that we are not-for-profit and don't pay taxes," Kujawski said.
"We are a non-profit, member-owned corporation, but we still have to pay
taxes. We are proud to be a local tax-paying member of the community."
In 2002, the cooperative paid $834,758 in payroll taxes, such as FICA, state
unemployment compensation, federal unemployment compensation, and state and
federal withholdings.
CVEC also paid approximately $516,163 in gross receipts taxes and $762,250 in
utility taxes.
Coosa Valley Electric, which serves more than 15,000 customers in Talladega,
St. Clair, Shelby, Clay, Etowah and Calhoun counties, is a Touchstone Energy®
cooperative. Nationwide, some 1,000 cooperatives provide power to rural America,
and 570 of those operate under the Touchstone Energy umbrella.
For more information, contact:
Jon Cullimore 362-4180 or 1-800-273-7210, ext. 225, Fax: 256-761-2615, Cell: 256-299-0551
Barbara Edmondson 1-800-273-7210, ext. 224
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