Posted On: 09/11/2014 9:19:07 AM
Post# of 273254
Mississippi Pwr Co 4.60 Pfd (MPRWP) 92.7500 $MPRWP
Mississippi Supreme Court Strikes Down Pollution Control Regulation
PR Newswire - Fri Aug 22, 5:38PM CDT
The Mississippi Supreme Court ("Court"
has ruled that the Mississippi Department of Revenue ("MDOR" regulation for the exemption of pollution control equipment contradicts the plain language of the statutory exemption. In Mississippi Department of Revenue v. Mississippi Power Company, No. 2013-CA-01234-SCT (Miss. August 7, 2014), the Court upheld the finding of a lower court that the MDOR interpretation of Miss. Code section 27-65-101(1)(w) was incorrect. The case arose from an audit by the MDOR of Mississippi Power Company's 2007 through 2009 state tax returns. The MDOR assessed use tax on the purchase of burners that Mississippi Power had claimed as pollution control equipment. The audit assessment was appealed to the MDOR's internal Board of Review and then to the Board of Tax Appeals, both of which upheld the assessment on the equipment. Mississippi Power Company filed a Petition for Appeal and Review in the Chancery Court of Harrison County, who ruled in favor of Mississippi Power Company. The MDOR then appealed that ruling to the Court.
Fitch Affirms Ratings for Southern Company and Subsidiaries
Business Wire - Tue Aug 06, 10:07AM CDT
Fitch Ratings has affirmed the Issuer Default Rating (IDR) and security ratings for Southern Company. In addition, Fitch has affirmed the IDRs and debt ratings of Southern Company's subsidiaries: Alabama Power Company (Alabama Power), Georgia Power Company (Georgia Power), Gulf Power Company (Gulf Power), Mississippi Power Company (Mississippi Power) and Southern Power Company (Southern Power). The Rating Outlook for all of the subsidiaries is Stable except for Mississippi Power, which remains Negative. A complete list of rating actions is provided at the end of this release.
Mississippi Supreme Court Strikes Down Pollution Control Regulation
PR Newswire - Fri Aug 22, 5:38PM CDT
The Mississippi Supreme Court ("Court"
has ruled that the Mississippi Department of Revenue ("MDOR" regulation for the exemption of pollution control equipment contradicts the plain language of the statutory exemption. In Mississippi Department of Revenue v. Mississippi Power Company, No. 2013-CA-01234-SCT (Miss. August 7, 2014), the Court upheld the finding of a lower court that the MDOR interpretation of Miss. Code section 27-65-101(1)(w) was incorrect. The case arose from an audit by the MDOR of Mississippi Power Company's 2007 through 2009 state tax returns. The MDOR assessed use tax on the purchase of burners that Mississippi Power had claimed as pollution control equipment. The audit assessment was appealed to the MDOR's internal Board of Review and then to the Board of Tax Appeals, both of which upheld the assessment on the equipment. Mississippi Power Company filed a Petition for Appeal and Review in the Chancery Court of Harrison County, who ruled in favor of Mississippi Power Company. The MDOR then appealed that ruling to the Court. Fitch Affirms Ratings for Southern Company and Subsidiaries
Business Wire - Tue Aug 06, 10:07AM CDT
Fitch Ratings has affirmed the Issuer Default Rating (IDR) and security ratings for Southern Company. In addition, Fitch has affirmed the IDRs and debt ratings of Southern Company's subsidiaries: Alabama Power Company (Alabama Power), Georgia Power Company (Georgia Power), Gulf Power Company (Gulf Power), Mississippi Power Company (Mississippi Power) and Southern Power Company (Southern Power). The Rating Outlook for all of the subsidiaries is Stable except for Mississippi Power, which remains Negative. A complete list of rating actions is provided at the end of this release.
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