Utility Accounting & Business Seminars
Introduction to Co-op Taxation
This course is available as on-site training only.
Contact us for pricing
CPE Credits: TBD
Who Should Attend?
This class is designed to provide a basic understanding of utility co-op taxation. Utility cooperative accountants and CPAs with minimal cooperative taxation experience should attend.
Instructors
Instructors vary.
What You'll Learn
- Background of cooperative entities
Organization of cooperatives and appeal of this structure today; application of state cooperative statutes; definitions - Tax exemption
Qualifying for tax exemption under §501( c)(12); 85-percent test; activities qualifying for exemption; legislative initiatives and threats - Principles of cooperative operation
Cooperative principles recognized for tax purposes; operation at cost; situations that jeopardize cooperative status - Unrelated business income tax (UBIT)
Items included and excluded from UBIT; modifications under §512; issues regarding controlled organizations and debt financed property - Taxation of nonexempt cooperatives
Pre-1962 cooperative treatment; patronage dividend exclusion; patronage dividend allocation issue; determination of tax liability; application of §277 - Capital credit allocation and redemption issues
Capital credit policies; discounting; allocation and redemption of non-operating income; reserves and capital retention; redemption methods - IRS audit and other current issues
- Practical case studies
Utility Seminar Contacts
Registration information
Karen Arndt
509-777-0153
Course Content Information
Cheri Burnham
509-777-0122
