Show Taking Advantage of Tax Law To Prevent Raise in Rates Utah Power Light Company Company Company Com Com- pany has taken an important step to avoid an impending In Increase Increase increase In- In crease in the cost of electricity for its customers E. E M. M Naughton president and general manager announced today He said the company is making every effort eUort to serve the public at the lowest possible cost and to attract industry into the company's service area s 'S Strong t r o 0 n g inflationary pressures pressures pressures pres pres- in recent months made it imperative for the company to consider every available means to a avoid v 0 i d increasing rates rates- said Naughton Almost everything we must buy huy has gone up in price interest rates on money we must obtain for construction are near an time all-time high and now the 10 Federal surtax is an added burden We are pleased please that we have offset these pressures for the present Naughton said by taking advantage of a special provision in the federal income tax law The law is complex but its effect is to permit us to depreciate our properties more rapidly reducing the amount mount of tax paid and flowing through through- the savings Naughton pointed out that no other industry can match the record of the electric utility industry In resisting higher prices-and prices our company's re record record record re- re cord stands as one of the best bestin in the industry |