IRS Rules on Telecom Coop Sale of Stock
A recent IRS private letter ruling addresses whether a cooperative’s gain on sale of stock resulted in patronage or non-patronage income. This particular ruling follows
McKenzie Electric, Basin Electric at Odds Over Rates
McKenzie Electric Cooperative recently filed a lawsuit seeking damages from its supplier Upper Missouri G&T Electric Cooperative and electricity generator Basin Electric Cooperative. McKenzie Electric is claiming that rate increases since
RUS’s New Digital Data Collection System
The Rural Utilities Service (RUS) has transitioned from forms-based data submission to digital submission. RUS has created a short guide explaining the change for electric
Section 501(c)(12) qualified transportation fringes
The IRS has provided guidance on how exempt taxpayers, like Section 501(c)(12) cooperatives, can claim a refund after the repealed provisions concerning qualified transportation fringes. You can visit the
AHC Partner Discusses Cooperatives’ Capital Credits at Telephone Cooperative Conference
David Cook will be speaking at the upcoming NTCA’s RTIME conference. The conference will be held on February 16 – 19 in Phoenix, AZ. The conference will bring together more
FCC ESTABLISHING $20.4 BILLION RURAL DIGITAL OPPORTUNITY FUND
On August 1, 2019, the Federal Communications Commission proposed closing the rural digital divide by establishing the Rural Digital Opportunity Fund, which would direct up to $20.4 billion
Court Addresses Agricultural Cooperative Bank Liability to Potential Borrower
On October 30, 2019, the Georgia Court of Appeals vacated, reversed, and remanded the denial of a cooperative bank‘s summary judgment motion on fiduciary duty and other claims from prospective borrowers in AgSouth Farm
New Law Fixes Tax Problem for Utility Cooperatives’ Grants
Tax Problem for Utility Cooperatives’ Grants
IRS Issues Proposed Regulations for Cooperatives Under New Section 199A
cThese proposed regulations provide guidance to cooperatives to which sections 1381 through 1388 of the Internal Revenue Code (Code) apply (Cooperatives) and their patrons regarding the deduction for qualified business income (QBI) under section 199A(a) of the Code as well as guidance to specified agricultural or horticultural cooperatives (Specified Cooperatives) and their patrons regarding the deduction for domestic production activities under section 199A(g) of the Code.
Notice 2019-43
Notice 2019-43 updates and clarifies timeframes when an energy property must be in service, which is the end of a calendar year no more than
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