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You are here: Home / Business / Alliant finds taxing problem with proposed power plant

Alliant finds taxing problem with proposed power plant

August 13, 2002 By admin

Alliant Energy miscalculated the amount of tax revenues Cerro Gordo County will receive from a new power plant by at least one million dollars and is working to get a waiver from the state. Alliant spokesman John Ruff says the current plan would yield far less than what was projected.Company officials originally said the county could receive between one- and two-million dollars annually in tax revenues from the 500-megawatt natural gas-fired plant, but they did not factor in a two-percent cap that is in place for an increase or decrease in gas delivery taxes within a utility’s territory, which protects counties from having large surpluses one year and large deficits the next. It would yield just 16-thousand dollars. Ruff says Alliant believes the tax law is not fair to Cerro Gordo County, and has requested a waiver from the state.Ruff says no laws have to be changed, just a request for a waiver has to be filed with the Iowa Department of Revenue and Finance.Ruff thinks the department will grant the waiver, as he says they probably won’t argue with a company that wants to pay more taxes.The 400-million dollar power plant will be built south of Mason City and is expected to begin operation in 2004. It will provide power to 150-thousand homes.

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Filed Under: Business Tagged With: Taxes, Utilities

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