63-3502A. LEVY OF TAX ON ANNUAL GROSS NATURAL GAS EARNINGS. There shall be levied against every cooperative natural gas 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 natural gas. This tax shall be in lieu of all other taxes on the property of such association exempted pursuant to section 63-602JJ, Idaho Code, of 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.
History:
[63-3502A, added 1998, ch. 132, sec. 3, p. 488; am. 2016, ch. 189, sec. 7, p. 519.]
Structure Idaho Code
Title 63 - REVENUE AND TAXATION
Chapter 35 - COOPERATIVE ELECTRICAL ASSOCIATIONS — TAXING GROSS EARNINGS
Section 63-3501 - DEFINITIONS.
Section 63-3502 - LEVY OF TAX ON ANNUAL GROSS ELECTRICAL EARNINGS.
Section 63-3502A - LEVY OF TAX ON ANNUAL GROSS NATURAL GAS EARNINGS.
Section 63-3504 - COLLECTION BY COUNTY TREASURER — PENALTY AND INTEREST IMPOSED WHEN DELINQUENT.
Section 63-3505 - TAXES A LIEN ON PROPERTY OF ASSOCIATION OR PRODUCER UNTIL PAID.