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Algonquin Power & Utilities Corp T.AQN

Alternate Symbol(s):  AGQPF | AQN | T.AQN.PR.A | T.AQN.PR.D

Algonquin Power & Utilities Corp. is a Canada-based diversified international generation, transmission, and distribution company. The Company through its two business groups, the Regulated Services Group, and the Renewable Energy Group, provides sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. The Company is engaged in renewable energy through its portfolio of long-term contracted wind, solar, and hydroelectric generating facilities. The Company owns, operates, and/or has net interests in over four gigawatts (GW) of installed renewable energy capacity. The Company is focused on its expanding global pipeline of renewable energy and electric transmission development projects, organic growth within its rate-regulated generation, distribution and transmission businesses, and the pursuit of accretive acquisitions.


TSX:AQN - Post by User

Comment by hopper_1on Mar 06, 2015 8:43pm
970 Views
Post# 23499511

RE:RE:AQN Stock down because...

RE:RE:AQN Stock down because...Algonquin Power & Utilities Corp. Receives CRA Proposal to Reassess Company Release - 02/20/2015 16:30 If CRA issues a Notice of Reassessment for the 2009 through 2013 taxation years as proposed in their letter, APUC would be required to make a deposit payment of 50% of the tax liability (including interest and any applicable penalties) (the "Tax Deposit") claimed by CRA in order to appeal the expected reassessment. Based on the tax amounts related to the 2009 through 2013 taxation years, that payment amount would be approximately $17 million and approximately $3 million for the 2014 taxation year once that tax return is filed with CRA, assuming it is similarly reassessed. APUC would also be required to make a deposit payment of 50% of the taxes CRA claims are owed in any future tax year if CRA were to issue a similar notice of reassessment for such years and APUC were to appeal it. The Company has more than adequate capital resources to fund any Tax Deposit and ultimately the entire balance if required. Looks like the accountants are looking for a way to pay 50% of the taxes
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