NV Energy hasn’t paid IRS since 2000
By Kyle Roerink, Las Vegas Sun
NV Energy collected millions to pay federal income taxes since 2000 but hasn’t sent the money to the Internal Revenue Service, according to documents filed by the company in the Nevada Public Utilities Commission.
The utility collected at least $126 million worth of income tax payments from companies in that time. By law, NV Energy can hold the tax contributions for extended periods of time, but that practice has drawn questions about what the utility does with the funds and whether they benefit ratepayers. NV Energy says holding the money helps reduce rates, but critics contend that the utility does not clearly show how those costs keep power bills from increasing.
The $126 million comes from developers who pay the utility for extending the power grid to their housing developments, gaming properties or other projects requiring electricity. The utility charges those customers for the cost of the job and then also collects for taxes that the IRS levies for earnings on private projects.