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US electric co-ops win fight for tax exemption

Last month, the US Congress passed the Rural Act, protecting the tax exempt status of more than 900 electric co-ops across the country.

Recent law changes had meant electric co-ops would lose their tax-exemption status if they accepted government grants for disaster relief, broadband service and other programmes that benefit members.

The Rural Act, signed into law as part of a sweeping tax and spending package, was designed to remove this risk – which had threatened the survival of many of the not-for-profit co-ops.

Read the rest at Co-operative News

 

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