TVA Tax Equivalent Payments Total $512 Million in 2022

Aug 31, 2022

KNOXVILLE, Tenn. – The Tennessee Valley Authority provided nearly $512 million in tax equivalent payments in fiscal 2022 to state and local governments served by its energy generation or in areas supporting TVA properties.

At its quarterly business meeting, TVA’s board of directors approved the final tax equivalent payments for the current fiscal year.  The payments compensate state and local governments that cannot levy property or sales taxes on TVA as a federal entity.

TVA returns 5 percent of power sales revenues from the previous year in the form of tax equivalent payments in the eight states where it sells electricity or owns generating plants, transmission lines, substations and other assets, and directly to 150 local governments where TVA owns power property. The funds are distributed in monthly payments, with final payments approved at the end of each fiscal year.

 

In fiscal 2022, the following tax equivalent payments were made to states and local governments:

Alabama $82,605,048
Georgia $8,549,763
Illinois $358,373
Kentucky $31,818,430
Mississippi $39,344,270
North Carolina $3,097,369
Tennessee $345,062,303
Virginia $1,126,316
TOTAL $511,961,872

State and local governments distribute the funds according to their own formulas and discretion to support a variety of initiatives, including schools, fire departments and other emergency response agencies, tourism and recreation, and human service organizations. 

Since 1941, TVA has made more than $15.7 billion in tax equivalent payments, with payments in the past 10 years totaling more than $5.3 billion.           

For more information about TVA and its 89-year mission of service to the Tennessee Valley, click here.

Contact

Scott Fiedler
Public Relations
[email protected]
423-751-7883

Investor Relations

Tammy Wilson, Knoxville, 865-632-3366 or 888-882-4975
Josh Carlon, Knoxville, 865-632-4133 or 888-882-4975
Investor Relations website

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