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ED » Topics » Taxes Other Than Income Taxes

These excerpts taken from the ED 10-K filed Feb 22, 2010.

Taxes Other Than Income Taxes

At over $1 billion, taxes other than income taxes remain one of CECONY’s largest operating expenses. The principal components of, and variations in, taxes other than income taxes were:

 

(Millions of Dollars)   2009     2008    

Increase/

(Decrease)

  

Property taxes

   $ 1,135      $ 955      $ 180 (a) 

State and local taxes related to revenue receipts

     282        283        (1 ) 

Payroll taxes

     59        57        2   

Other taxes

     10        9        1   

Total

   $ 1,486 (b)    $ 1,304 (b)    $ 182   

 

(a) Property taxes increased $180 million reflecting primarily higher capital investments and New York City property tax rates.
(b) Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2009 and 2008 were $1,866 million and $1,684 million, respectively.

Taxes Other Than Income Taxes

Taxes, other than income taxes, increased $1 million in 2009 compared with 2008. The principal components of taxes, other than income taxes, were:

 

(Millions of Dollars)   2009     2008    

Increase/

(Decrease)

Property taxes

   $ 28      $ 27      $ 1

State and local taxes related to revenue receipts

     12        12        —

Payroll taxes

     5        5        —

Total

   $ 45 (a)    $ 44 (a)    $ 1

 

(a) Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2009 and 2008 were $77 million and $78 million, respectively.

Taxes Other Than Income Taxes

At over $1 billion, taxes other than income taxes remain one of CECONY’s largest operating expenses. The principal components of, and variations in, taxes other than income taxes were:

 

(Millions of Dollars)   2008     2007    

Increase/

(Decrease)

  

Property taxes

   $ 955      $ 936      $ 19   

State and local taxes related to revenue receipts

     283        262        21   

Payroll taxes

     57        55        2   

Other taxes

     9        10        (1 ) 

Total

   $ 1,304 (a)    $ 1,263 (a)    $ 41   

 

(a) Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2008 and 2007 were $1.7 billion and $1.6 billion, respectively.

 

Taxes Other Than Income Taxes

Taxes, other than income taxes, increased $2 million in 2008 compared with 2007. The principal components of taxes, other than income taxes, were:

 

(Millions of Dollars)   2008     2007    

Increase/

(Decrease)

  

Property taxes

   $ 27      $ 25      $ 2   

State and local taxes related to revenue receipts

     12        13        (1 ) 

Payroll taxes

     5        4        1   

Total

   $ 44 (a)    $ 42 (a)    $ 2   

 

(a) Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2008 and 2007 were $78 million and $71 million, respectively.

 

These excerpts taken from the ED 10-K filed Feb 23, 2009.

Taxes Other Than Income Taxes

At over $1 billion, taxes other than income taxes remain one of Con Edison of New York’s largest operating expenses. The

 

principal components of, and variations in, taxes other than income taxes were:

 

(Millions of Dollars)    2008     2007    

Increase/

(Decrease)

  

Property taxes

    $ 955     $ 936     $ 19  

State and local taxes related
to revenue receipts

      283       262       21  

Payroll taxes

      58       55       3  

Other taxes

      9       10       (1 )

Total

    $ 1,305 (a)   $ 1,263 (a)   $ 42  

 

(a) Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2008 and 2007 were $1.7 billion and $1.6 billion, respectively.

Taxes Other Than Income Taxes

Taxes, other than income taxes, increased $2 million in 2008 compared with 2007. The principal components of taxes, other than income taxes, were:

 

(Millions of Dollars)    2008     2007    

Increase/

(Decrease)

  

Property taxes

    $ 27     $ 25     $ 2  

State and local taxes related to revenue receipts

      12       13       (1 )

Payroll taxes

      5       4       1  

Total

    $ 44 (a)   $ 42 (a)   $ 2  

 

(a) Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2008 and 2007 were $78 million and $71 million, respectively.

Taxes Other Than Income Taxes

At over $1 billion, taxes other than income taxes remain one of Con Edison of New York’s largest operating expenses. The principal components of, and variations in, taxes other than income taxes were:

 

(Millions of Dollars)    2007     2006    

Increase/

(Decrease)

Property taxes

    $ 936     $ 869     $ 67

State and local taxes related
to revenue receipts

      262       253       9

Payroll taxes

      55       54       1

Other taxes

      10       7       3

Total

    $ 1,263 (a)   $ 1,183 (a)   $ 80

 

(a) Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2007 and 2006 were $1.6 billion and $1.5 billion, respectively.

Taxes Other Than Income Taxes

Taxes, other than income taxes, decreased $5 million in 2007 compared with 2006. The principal components of taxes, other than income taxes, were:

 

(Millions of Dollars)    2007     2006    

Increase/

(Decrease)

  

Property taxes

    $ 25     $ 30     $ (5 )

State and local taxes related to revenue receipts

      13       13       -  

Payroll taxes

      4       4       -  

Total

    $ 42 (a)   $ 47 (a)   $ (5 )

 

(a) Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2007 and 2006 were $71 million and $73 million, respectively.
These excerpts taken from the ED 10-K filed Feb 22, 2008.

Taxes Other Than Income Taxes

Taxes, other than income taxes, decreased $5 million in
2007 compared with 2006. The principal components of taxes, other than income taxes, were:

 










































































(Millions of Dollars)  2007  2006  

Increase/

ALIGN="center">(Decrease)

Property taxes

  $25  $30  $(5)

State and local taxes related to revenue receipts

   13   13  —  

Payroll taxes

   4   4  —  

Total

  $42(a) $47(a) $(5)

 





(a)Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2007 and 2006 were $71 million and $73 million, respectively.

 


51






Table of Contents



MANAGEMENT’S DISCUSSION AND
ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

FACE="ARIAL" SIZE="2" COLOR="#0061af">(COMBINED FOR CON EDISON AND CON EDISON OF NEW YORK)
— CONTINUED

 



Income Taxes

Operating income taxes decreased by $1 million in 2007 compared
with 2006.

Taxes Other Than Income Taxes

Taxes, other than income taxes, were the same in 2006 compared with 2005. The principal components of taxes, other than income taxes, were:

 

(Millions of Dollars)    2006     2005    

Increase/

(Decrease)

Property taxes

    $ 30     $ 30     $ -

State and local taxes related to revenue receipts

      13       13       -

Payroll taxes

      4       4       -

Total

    $ 47 (a)   $ 47 (a)   $ -

 

(a) Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2006 and 2005 were $73 million and $68 million, respectively.
This excerpt taken from the ED 10-K filed Feb 21, 2007.

Taxes Other Than Income Taxes

Taxes other than income taxes decreased $1 million in 2005 compared with 2004.

 

54

Table of Contents

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

(COMBINED FOR CON EDISON AND CON EDISON OF NEW YORK) – CONTINUED

 

The principal components of, and variation, in taxes, other than income taxes were:

 

(Millions of Dollars)    2005     2004    

Increase/

(Decrease)

  

Property taxes

    $ 30     $ 29     $ 1  

State and local taxes related to revenue receipts

      13       15       (2 )

Payroll taxes

      4       4       -  

Total

    $ 47 (a)   $ 48 (a)   $ (1 )

 

(a) Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2005 and 2004 were $68 million and $66 million, respectively.
This excerpt taken from the ED 10-K filed Feb 22, 2006.

Taxes Other Than Income Taxes

Taxes other than income taxes decreased $2 million in 2004 compared with 2003.

 

The principal components of, and variation, in taxes, other than income taxes were:

 

(Millions of Dollars)    2004      2003     

Increase/

(Decrease)

  

Property taxes

    $ 29      $ 28      $ 1  

State and local taxes related to revenue receipts

      15        19        (4 )

Payroll taxes

      4        4        -  

Other taxes

      -        (1 )(b)      1  

Total

    $ 48 (a)    $ 50 (a)    $ (2 )

 

(a) Including sales tax on customers’ bills, total taxes other than income taxes, billed to customers in 2004 and 2003 were $66 million and $69 million, respectively.
(b) Includes a sales and use tax refund of approximately $800,000.

 

EXCERPTS ON THIS PAGE:

10-K (4 sections)
Feb 22, 2010
10-K (4 sections)
Feb 23, 2009
10-K (2 sections)
Feb 22, 2008
10-K
Feb 21, 2007
10-K
Feb 22, 2006

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