Utility Company Excess PV Power Payment: 1099?

Discussion in 'Environmental Discussion' started by hill, Jul 17, 2010.

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  1. drees

    drees Senior Member

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    Don't forget - just because they don't 1099-MISC you, does not mean that you should not report the income. Though for small amounts of money, I doubt the tax collectors will notice.
     
    #21 drees, Jul 20, 2010
  2. bedrock8x

    bedrock8x Senior Member

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    If they don't have your SSN, they cannot issue a 1099 to you because it cannot be reported to IRS.

     
    #22 bedrock8x, Jul 20, 2010
  3. apriusfan

    apriusfan New Member

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    That is real easy to solve - until you give them a verified SSN, you won't get a check from them. No tickie, no washie....
     
    #23 apriusfan, Jul 20, 2010
  4. hill

    hill High Fiber Member

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    I am certain the utility co's will do what ever it takes, to make their cash payouts a "business deduction" for them. Think about it. $100 here ... $100 there ... times a million possible customer payouts? Suddenly, they're talking real money. That's a heck of a write off for them. Oh yea, there's NO way utility companies won't be asking for SS #'s.
     
    #24 hill, Jul 20, 2010
  5. Patrick Wong

    Patrick Wong DIY Enthusiast

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    Well, a credit on your bill becomes a reduction in revenue to the electric utility. That revenue reduction would reduce the utility's taxable income on a dollar for dollar basis.
     
    #25 Patrick Wong, Jul 21, 2010
  6. burritos

    burritos Senior Member

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    Your federal income tax rate is 20%? That seems kind of low for you.
     
    #26 burritos, Jul 23, 2010
  7. hill

    hill High Fiber Member

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    Then I REALLY better not say what our percentage is. Put another way,
    The Password is, "S-H-E-L-T-E-R"
    The more you make, the less you pay. Remember 2 things:
    who writes the rules.
    and, life is not fare.
    Example: I'd like to sell our Montana home, but my wife hates the idea of taking over a $160,000 loss. I see that as a carry over tax deduction we can use for YEARS, to avoid paying tax. Eeauww ... thinking about taxes not owed for months or years to come ... no wonder my wife often asks, "WHAT's WRONG with you?!"
    :p
     
    #27 hill, Jul 24, 2010
  8. ThePriusMan.com

    ThePriusMan.com Waiting for my Prius

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    In Oregon (I assume you are talking about Generating electricity?) You don't get a check, your Extra POWER gets donated to the Poor.. I guess they figure if you can generate power you are RICH! and automatically want to give it away. (IMO this should be a option not manditory.)
     
    #28 ThePriusMan.com, Jul 24, 2010
  9. bisco

    bisco cookie crumbler

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    i think you should be giving us advice on what to do with our utility company checks!:rockon:
     
    #29 bisco, Jul 24, 2010
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