On December 20, 2019, the President signed into law the RURAL Act, H.R. 2147, which fixes an error in the 2019 tax reform law (Public Law 115-97). The error was expected to result in taxation of government grants, and Section …
Utility Cooperative
Tax Reform Act Impacts Cooperatives, Part IV: Impact on Governmental Grants
Perhaps the most impactful aspect of the recent tax reform law is the change to the treatment of governmental grants. Many cooperatives qualify for governmental grants in furtherance of their community benefits, such as electric, telephone, and broadband service and …
Northwest electric coop sells telephone subsidiary to executive officers
Three executives of Eastern Oregon Telecom (EOT) announced in May they have purchased the internet and phone provider from its parent company Umatilla Electric Cooperative. EOT General Manager and CEO Joe Franell, CFO Paul Keeler and COO Richard Holbo, …
Mississippi Regulators Seek to Permit Electric Cooperatives to Provide Broadband
Mississippi’s utility regulator, the Public Service Commission, wants to permit electric cooperatives to offer broadband to its customers. PSC Commissioner Presley, along with 48 lawmakers and representatives of more than a dozen Mississippi electric cooperatives, recently traveled to Alabama to …
AHC Attorney David Cook Presents on Capital Credits and Cooperative Tax
AHC attorney David Cook will present at the National Telecommunications Cooperative Association’s Finance and Accounting Conference concerning two important topics for telecommunications and telephone cooperatives. He will discuss “Strategies for Managing Capital Credits” and “Handling Large Gains and Losses.” Here …
Lender Discusses Differences Between Broadband and Electric Service
The following article is reprinted from CFC Solutions News Bulletin (17 January 2018, Volume 19, Number 2).
With more electric cooperatives looking into providing broadband service to unserved and underserved rural communities, CFC Senior Vice President for Member Services Joel …
Utility coops partner to bring members ‘up to speed’ with broadband access
Most Americans have multiple high-speed wireless choices when it comes to Internet access but many residents living in the less-populated, more rural parts still have to rely on 90s technology, i.e. dial-up, for their data needs. Now, cooperatives that have …
The Cooperative Model Offers the Perfect Vehicle for Rural Broadband
By Richard R Oswald
Once upon a time, telegraphs and kerosene lamps were state of the art.
Telephones and 110-volt wall outlets were the next big thing.
Now we have the Internet.
Costs of hard-wired improvements are just too high …
Rural Telecom Coops Request Lawmakers to Update USF
Dave Osborn, CEO of Valley Telephone Cooperative, Inc., explains why lawmakers need to update the USF to account for the services of rural telcoms.
Read the full article here. Here is a short summary:
…What began as a small
Cooperative Tax Brief: Federated Telecommunications Cooperative Denied Exemption
To view this Autry Cole Cooperative Tax Brief as a PDF, click here.
The IRS has rejected an organization’s application for exemption under Section 501(c)(12), even though the organization was organized under a state’s cooperative statute and provided services …