| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Section A, Line 6 | SHAREHOLDERS OWN SHARES OF WATER STOCK |
| Form 990, Part VI, Section B, Line 11b | MADE AVAILABLE FOR REVIEW AT THE ANNUAL DIRECTORS MEETING BUT AFTER THE RETURN HAS BEEN FILED |
| Form 990, Part VI, Section C, Line 19 | AVAILABLE IN THE ORGANIZATIONS CORPORATE OFFICE UPON REQUEST |
| Statement Note 1 | BLISS DITCH COMPANY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE SERVICE CODE SECTION 501(C)(12) AS A MUTUAL WATER COMPANY. THIS EXEMPTION IS APPLICABLE IN ANY YEAR THAT NON-MEMBER GROSS RECEIPTS DO NOT EXCEED 15 PERCENT OF TOTAL GROSS RECEIPTS FOR THE YEAR. IN ANY YEAR THAT NON-MEMBER GROSS RECEIPTS EXCEED 15 PERCENT OF TOTAL GROSS RECEIPTS, THE COMPANY FILES A FORM 1120 INSTEAD OF FORM 990 AND PAYS FEDERAL INCOME TAX ON ALL OF ITS NET INCOME AT THE APPLICABLE CORPORATE TAX RATES. LOSS OF THE EXEMPTION IN ANY PARTICULAR YEAR DOES NOT AFFECT ANY PREVIOUS OR SUBSEQUENT TAX YEAR.DURING THE TAX YEAR ENDED DECEMBER 31, 2024, NON-MEMBER GROSS RECEIPTS DID NOT EXCEED 15 PERCENT OF TOTAL GROSS RECEIPTS. THE COMPANY IS FILING THIS FORM 990 IN THE PLACE OF THE FORM 1120 FOR THE DECEMBER 31, 2024 TAX YEAR.ALTHOUGH THE COMPANY DOES NOT ANTICIPATE HAVING NON-MEMBER INCOME IN EXCESS OF 15 PERCENT OF ITS GROSS RECEIPTS IN 2025, THE COMPANY WILL APPLY THE TEST AGAIN IN 2025 TO DETERMINE ITS FORM 990 OR FORM 1120 FILING REQUIREMENTS. |
| Software ID: | 24020490 |
| Software Version: | 2024v5.0 |