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Show Garkane Pays Property Taxes Of $240,000 RICHFIELD, Utah This week, ' Garkane Energy Cooperative paid $240,102.44 in 2001 property tax assessments assess-ments to counties in Utah and Arizona, according to Carl Albrecht, Garkane's General Manager and CEO. Taxes paid by Garkane to each county are as follows: UTAH: Garfield, $89,851; Kane, $64,890; Piute, $10,330; Sevier, $16,368; Washington, $284; Wayne, $26,879. ARIZONA: ARI-ZONA: Coconino, $14,282; Mohave, $17,219. "Many people are under the false impression that cooperatives coopera-tives don't pay taxes," stated Albrecht. "Nothing could be further from the truth. We are an ; important part of the community tax base, paying real estate and personal property taxes, sales .,-: and excise taxes, motor vehicle, and gasoline taxes; generally all -; taxes paid by a for-profit corpo- I ration. Most cooperatives, how- ? ever, do not pay federal income ; taxes because they have no net ; income." ; Albrecht noted that Garkane ; is not in business to make a ; profit for outside shareholders. ; Revenue earned in excess of the -cost of service is returned to Garkane's member-consumers, as evidenced by the recent announcement of a $400,000 capital credit refund to be issued ; in December. t |
