Beginning July 1, Tipmont REMC members will no longer have to pay the utility receipts tax, a state-mandated tax on the sale of utility services.
This tax elimination will annually put an estimated $28.5 million back in the pockets of 1.3 million total Hoosiers served by Indiana’s 38 electric cooperatives.
Tipmont REMC members will collectively save an estimated $900,000 annually from the repeal of this tax. The average Tipmont residental energy bill will decrease by about $2.25.
The elimination of this tax was made possible through the efforts of Indiana’s electric cooperatives advocating for their consumers and negotiating with the Indiana General Assembly to repeal this tax.
“Tipmont works hard for you, our members, in our communities and at the Indiana Statehouse,” says Jody Hamilton, director of external affairs for Tipmont REMC. “As the landscape continues to evolve, we want to ensure our consumers always have access to safe, reliable, and affordable energy — now and for years to come.”
Tipmont REMC members will see the tax repeal reflected as a reduction in their kilowatt-hour charge on their August bill for July energy use. There is no further action they need to take.