Idaho Public Utilities Commission Confirms Farmers Mutual Telephone Company's Investment in Broadband Equipment Eligible for Tax Credit

In a recent order, the Idaho Public Utilities Commission confirmed that equipment installed by Farmers Mutual Telephone Company in 2018 meets the definition of "qualified broadband equipment" under Idaho Code, making it eligible for an income tax credit. The company's net investment in the equipment was $564,627.12, and it estimated that over 93% of its Idaho customers have access to its broadband network. The commission's order comes as part of the state's efforts to promote the development of broadband infrastructure.

Key Takeaways:

• The Idaho Public Utilities Commission confirmed that Farmers Mutual Telephone Company's equipment installed in 2018 is "qualified broadband equipment" under Idaho Code SS 63-3029I, making it eligible for an income tax credit.
• The company's net investment in the equipment was $564,627.12, which meets the statutory requirement for the tax credit.
• The company estimated that over 93% of its Idaho customers have access to its broadband network, demonstrating its commitment to providing high-speed internet access to its customers.
• The commission's order is the result of a review process where the company's application was submitted, reviewed by the commission's staff, and ultimately approved by the commission.
• The order does not include any findings regarding the costs of the installed broadband equipment or other expenses.

Statistics:

• The company's net investment in the qualified broadband equipment was $564,627.12.
• Over 93% of the company's Idaho customers have access to its broadband network.

Sources:

• Idaho Public Utilities Commission. (2021, February 24). ORDER NO. 34934. In the Matter of Farmers Mutual Telephone Company's Application for a 2018 Investment Tax Credit for Installing Qualifying Broadband Equipment. Case No. FMT-T-20-03ORDER NO. 34934.
• Idaho Statutes. (N.D.). Idaho Code SS 63-3029I.