CAEC Pays $5.5 Million For Its Share Of Taxes In 2003



CAEC Pays $5.5 Million For Its Share Of Taxes In 2003

PRATTVILLE—Central Alabama Electric Cooperative (CAEC), a Touchstone Energy® Cooperative and a member-owned electric utility, contributed to regional, state and federal coffers by paying approximately $5.5 million in taxes in 2003.

CAEC paid $407,770 in ad valorem taxes in 2003 on an assessed value of
$14,520,000. In fact, over the past 12 years, CAEC has paid approximately $3.2 million
in ad valorem taxes.

Revenue from these ad valorem taxes goes to several recipients including the school
districts and volunteer fire departments, said David Loe, Vice President of Finance and Corporate Services.

The 10 counties within CAEC’s service area receiving payments were: Autauga, $91,261; Bibb, $842; Chilton, $138,866; Coosa, $59,117; Dallas, $15,626; Elmore, $81,975; Lowndes, $10,490; Perry, $3,412; Talladega, $3,380; and, Tallapoosa, $2,797.

CAEC paid $37,613 in state and county use taxes in 2003, according to Loe. The use tax is paid when CAEC buys goods.

In 2003, the local cooperative paid $1.72 million in payroll taxes such as FICA, state
unemployment compensation, federal unemployment compensation, and state and federal
withholdings.

CAEC also paid approximately $958,000 in gross receipt taxes and approximately $2 million in utility taxes. In 2003, the local cooperative paid approximately $92,000 in city licenses.

“CAEC is proud to be a local tax-paying member of the community. These dollars help maintain a vibrant economy in our region,” Loe added.

For more information, contact:
Lisa M. Miller
Manager of Communications and Public Relations
(334) 351-2125, 1-800-545-5735, Ext. 2125
E-Mail: lmiller@coop.caec.com