US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 35
                     COOPERATIVE ELECTRICAL ASSOCIATIONS
                           -- TAXING GROSS EARNINGS
    63-3502.  LEVY OF TAX ON ANNUAL GROSS ELECTRICAL EARNINGS. There shall be
levied against every cooperative electrical association in this state a tax of
three and one-half percent (3 1/2%) of its annual gross earnings, after first
reducing such gross earnings by its cost of power and WPPSS 4 and 5 costs in
such sum as the amount of its gross earnings bear to its gross receipts from
the distribution, delivery and sale of electric power within the state of
Idaho. This tax shall be in lieu of all other taxes on the operating property
of such association for the tax year next preceding the filing of the
statement hereinafter provided for, and which shall be paid in the manner and
at the time prescribed herein.