Gaming Companies Win Reprieve from PUC on Increased Revenue From Last Year’s Tax Bill
July 6, 2018, The Nevada Independent, By Riley Snyder
Nevada energy regulators are pumping the brakes on a complex tax withholding system used by NV Energy amid charges from critics that the utility isn’t completely giving up all benefits from last year’s tax bill to Nevada ratepayers.
In an order granted last month, the state Public Utilities Commission required NV Energy to temporarily place excess accumulated deferred income taxes (ADIT) — taxes on capital investments that utilities are allowed to spread out over a period of time as a way to encourage capital investment — into a separate holding account, until the commission comes to a final decision on how to treat utilities in light of the changes made to the federal tax code last year. To read entire article click here.
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