MARYLAND STATE DEPARTMENT OF ASSESSMENTS AND TAXATION Public Utilities Section 301 West Preston Street, Room 801● Baltimore, Maryland 21201 (410) 767-1940 FORM 17G 2024 ELECTRIC GENERATION PROPERTY RETURN For non-utility entities File this report at address listed above by April 15, 2024 Attach the $300 Annual Report Filing Fee SECTION I The business has been approved by MarylandSaves for a waiver of its 2024 Annual Report filing fee. [ ] Yes [ ] No 1. Department ID Number: 2. Name: 3. Mailing Address: Check ifnew address 4. Email address: 5. Place where principal business in the State is transacted: 6. State and Date of Incorporation or Formation: 7. Names & Addresses of Officers: OFFICERS President Secretary Vice-President Treasurer 8. Names of Directors: DIRECTORS *Required information for certain corporations, MD Code, Tax Property Article §11-101 – Please see instructions on the next page. *Total number of directors *Total number of female directors MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 _Public Utility - 2024 Form 17G Maryland 1 of 14 http://dat.maryland.gov ASSESSMENTS DEPARTMENTAND TAXATIONOF |
Completion Required Pursuant to MD Code, Tax Property Article §11-101 A. Is this business a (1) commercial enterprise or business that is formed in Maryland or does business in Maryland; or (2) a corporation, foundation, school, hospital, or other legal entity for which none ofthe earnings inure to the benefit of any private shareholder or individual holding an interest in the entity? [ ] Yes [ ] No If you answer “Yes” to Question A,please proceed to questions B, C, D, and the rest of the return. If you answeredNo“ ” to Question A, please proceed to the rest of the Form. Your signing of this return confirms, under penalties of perjury, that the entity filing this return is not required to submit a Corporate Diversity Addendum. Please see the 2024 Form 1 instructions for additional information (available at dat.maryland.gov). B. Is this business a limited liability company (LLC) owned by a single member? [ ] Yes [ ] No C. Is this business a privately held company with at least 75% of the company’s shareholders who are family members? [ ]Yes [ ] No D. Is this business an entity that (1) has an annual operating budget or annual sales less than $5,000,000; and (2) has neither qualified for nor applied for, and does not intend to apply for, a State benefit*? [ ] Yes [ ] No *A “State Benefit” means (1) a State capital grant funding totaling $1.00 million or more in a single fiscal year; (2) State tax credits totaling $1.00 million or more in a single fiscal year; or (3) the receipt of a State contract with a total value of $1.00 million or more. “State contract” means a contract that (a) resulted from a competitive procurement process and (b) is not federally funded in any way. If you answered No"” toQuestions B, C, and D, you are legally obligated to complete and return to SDAT a Corporate Diversity Addendum that is required by COMAR 24.01.07. The Addendum is available at https://dat.maryland/gov/Pages/sdatforms.aspx. Failure to complete and return the Addendum to SDAT may prohibit you from receiving certain state benefits. Please see the 2024 Form 1 instructions for additional information. Starting in 2024, entities may be required to report Beneficial Ownership Information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network. More information may be found at http://www.fincen.gov/boi . MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 _Public Utility - 2024 Form 17G Maryland 2 of 14 http://dat.maryland.gov ASSESSMENTS DEPARTMENTAND TAXATIONOF |
REMINDERS FOR 2024 Regulatory reports including SEC 10-K; Annual Reports to Stockholders; FERC 1, 2, and 6; FCC 499A; and R-1 forms may be submitted electronically in PDF format to sdat.utilitytax@maryland.gov . Electronic reports MUST be in PDF format. Links to urls are NOT acceptable. Always include the complete name of the entity and Maryland ID number in the subject line of the email. Check this box if Regulatory reports are filed electronically. *Report total number of Directors and total number of female Directors on page 1. Due to the passage of Chapter 513 during the 2019 General Assembly Session, a new request for data has been included on the Form 17G. The Total number of Directors, Total number of Female Directors only applies to tax exempt, domestic non- stock corporations with an operating budget exceeding $5,000,000; or domestic stock corporations with total sales exceeding $5,000,000. If one of the former applies to the corporation, these questions must be completed unless 75% of the corporation’s shareholders are family members. This question is required by law, Tax Property Article §11-101. 2024 ELECTRIC GENERATION PROPERTY RETURN EXTENSION 60-Day Extension Requests may be submitted and verified online at http://pprextensions.dat.maryland.gov. Our office is no longer accepting extensions requested via paper documents. Extension requests can be submitted from December 2023 through April 14 ,2024. You will receive a confirmation number as proof of your submission. Please print and keep a copy of the confirmation page. Please submit extension requests as early as possible to avoid delays due to the heavy usage of the system the last week prior to April 15. Returns must be filed by June 15, 2024. Public Utility Forms are available online at https://dat.maryland.gov/business/Pages/franchise -and-public-utilities.aspx MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 _Public Utility - 2024 Form 17G Maryland 3 of 14 http://dat.maryland.gov ASSESSMENTS DEPARTMENTAND TAXATIONOF |
SECTION II 1. Provide the following information for each electric generation site operated in Maryland. If the return includes more than one operating site, provide separate information for each site. a) Name of site: b) County of operation: c) Rated generation capacity: d) Total kilowatts of electricity generated in 2023: e) Year initial service began: f) Date acquired: 2. If an Annual Report to Stockholders is filed, a copy of the company’s or it’s parent’s Annual Report to Stockholders or Form 10k must be submitted with this return. Yes No Regulatory reports may be submitted inPDF format to sdat.utilitytax@maryland.gov . Electronic reports MUST be in PDF format. Links to urls areNOT acceptable. Check this box if Regulatory reports are filed electronically. Does the company have a payment in lieu of tax agreement (PILOT) with the governing body of a County or municipality, as provided in Tax Property §7-514 ? If yes, provide the approval date, the order number, and a copy of the signed agreement. Is the company a Community Solar project approved by the Maryland Public Service Commission? If yes, provide the CSEGS Identification number MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 _Public Utility - 2024 Form 17G Maryland 4 of 14 http://dat.maryland.gov ASSESSMENTS DEPARTMENTAND TAXATIONOF |
SECTION III Complete the following income and expense statement for January 1, 2023 through December 31, 2023. If the company’s records are kept on a fiscal year basis different from the calendar year, provide the information for the fiscal year and indicate the time period. Within Maryland Total Revenues: Electricity Sales Capacity Revenue Ancillary Services Revenue Other Operating Revenues* Total Revenue Operating Expenses : Fuel Maintenance Expenses Depreciation and Amortization Salaries & Wages Other Operating Expenses** Total Operating Expenses Operating Income Non-Operating Items Interest Expense Interest Income Other Income Income before income taxes Income Taxes Net Income *Other operating Revenues should include uplift payments. **Please provide an explanation for any amounts reported in other operating expenses. MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 _Public Utility - 2024 Form 17G Maryland 5 of 14 http://dat.maryland.gov ASSESSMENTS DEPARTMENTAND TAXATIONOF |
SECTION IV 1. State the original cost of the company's Maryland property, plant and equipment by category and year of acquisition. Provide this information on Form 17G-1. All property owned by the company and located within the State of Maryland on January 1, 2024, must be reported. Property must be reported at original cost in the year of acquisition without deduction of depreciation, investment tax credit, or trade-in of previously owned property. Property not in use and all fully depreciated and expensed property must be reported. 2. Each generation site should be reported on a separate Form 17G-1. A list of all counties and incorporated towns in Maryland is provided. Please report the jurisdiction(s) in which the property is located. 3. Please complete the balance sheet provided on Form 17G-2. The balance sheet should reflect a beginning period of January 1, 2023 and ending period of December 31, 2023. Total columns may be omitted if all assets are located in Maryland. 4. Complete Form 17G-3, Depreciation Schedule of Property in Maryland on January 1, 2024. The total amounts reported on Line 9 must match the original cost and net book values reported on Form 17G-2, Balance Sheet, for property located in Maryland. 5. During 2023, did the company transfer or dispose of any property located in Maryland? Yes No If Maryland property was transferred or disposed of, Form 17G-4 must be completed. The total must match the total reported original cost on Form 17G-3. 6. Most computer software and related documentation is now exempt. Embedded software residing permanently in the internal memory of a computer system and computer software sold from inventory in a tangible medium ready to use as is remains taxable. All other software is exempt. A business may not reduce the original cost of computer hardware by the value of software that is acquired as part of computer hardware. [Tax Property 7-238 (d)] 7. Personal property that is machinery or equipment used to generate electricity for sale is subject to county or municipal property tax on 50% of its value for the taxable year beginning July 1, 2001. Please report this property at original cost, and the Department will calculate the exemption. MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 _Public Utility - 2024 Form 17G Maryland 6 of 14 http://dat.maryland.gov ASSESSMENTS DEPARTMENTAND TAXATIONOF |
8. Does the company have any personal property located in Maryland which is owned by others and held by the company as lessee or otherwise? Yes No If yes, complete the following information for all leased property. Description of Leased Property: Lessor: Original Cost: Year of Acquisition: Lease Term: Unexpired Lease Term: Lease Payment: Location of Leased Property: 9. Does the company own any fully depreciated or expensed property in Maryland? Yes No If so, is the property reported on the return? Yes No 10. Except as otherwise provided by Tax Property Article 7-239, a partial exemption equal to 95 percent of the assessment of the property applies to property placed in service as part of a certified coal pollution control facility or a coal waste disposal power project and for which all necessary permits, including a certificate of public convenience and necessity, are issued after January 1, 1997. If a certified coal pollution facility engages in the replacement, repair, or retrofit of equipment that was subject to the property tax on or before December 31, 1996, the partial exemption is reduced by the replacement value of existing equipment that is replaced, repaired, or retrofitted. MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 _Public Utility - 2024 Form 17G Maryland 7 of 14 http://dat.maryland.gov ASSESSMENTS DEPARTMENTAND TAXATIONOF |
SECTION V IMPORTANT REMINDERS • A Maryland annual property return must be filed by all companies that are incorporated, qualified, or registered to do business in the State of Maryland. The return must be filed even ifthe company owns no property in the state or has not conducted business during the year. • The due date for filing the return is April 15. Extensions of the filing deadline of up to 60 days may be granted. The only way to request an extension is via the website as explained on the Extension Request Form included at the beginning of the Form 17G. All companies which receive an extension must file a completed return by the extension expiration date. All returns should be mailed to: State Department of Assessments & Taxation Public Utility Section th 301 W. Preston Street, 8 Floor Baltimore, Maryland 21201-2395 • All items on the return must be completed. If a question is not applicable, please state that fact. The information provided in this return, excluding page 1, is held confidential by the Department and is not available for public inspection. Page 1 is public record. (Tax-Property Article 2-212). • The annual report filing fee is now $300 for most legal entities. Please be sure to enclose the correct fee with the Form 17G. Make the check for the filing fee payable to: State Department of Assessments and Taxation (Please put the Maryland Department ID number on the check) • For assistance in preparing the return, call 410-767-1940. Name and phone number of person to contact regarding the return Email Address of person to contact regarding the return I declare under the penalties of perjury, pursuant to Tax-Property Article 1- 201 of the Annotated Code of Maryland, that this return, including any accompanying schedules and statements, has been examined by me and to the best of my knowledge and belief is a true, correct and complete return. Printed Name of Officer or Principal Signature ofOfficer or Principal Date The return must be signed by an officer of the company. MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 _Public Utility - 2024 Form 17G Maryland 8 of 14 http://dat.maryland.gov ASSESSMENTS DEPARTMENTAND TAXATIONOF |
Maryland Form 17G-1a, January 1, 2024 Company Name: Generation Plant Location Report original cost by year of acquisition. Category ASSET DESCRIPTION CWIP 2023 2022 2021 2020 2019 2018 2017 2016 & prior ** G Long-lived electric generation machinery and equipment * A Other electric generation machinery and equipment * A Switchyard equipment A Furniture and fixtures B Mainframe computers over $500,000. C Unlicensed motor vehicles D Data processing equipment and canned software A Other property not specifically listed Total DEPRECIATION RATE CHART FOR 2024 RETURN Category A 10% per year Other generation machinery and equipment, furniture and fixtures, and other personal property not specifically listed. Subject to minimum assessment of 10% of original cost. Category B&C 20% per year Mainframe computer over $500,000, unlicensed motor vehicles, contractor’s heavy equipment, fax machines, mobile telephones, photocopying equipment, rental pagers. Subject to minimum assessment of 10% of original cost. Category D30% per year Data processing equipment, canned software. Subject to minimum assessment of 5% of original cost. Category G3.3% per year Turbines, generators, and long-lived generation equipment. Subject toa minimum assessment of 25% of the original cost. *Machinery and equipment used to generate electricity is 50% taxable (50% exempt). CWIP should be reported according to its intended future classification. All property, including property that qualifies for the exemption must be reported at total original cost. Any exemption will be calculated by the Department. (Tax Property 7-237) **For category G, record property before 2016 on the following page MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 Maryland http://dat.maryland.gov _Public Utility 2024- Form 17G ASSESSMENTSDEPARTMENTAND TAXATIONOF 9 of 14 |
Maryland Form 17G-1b, January 1, 2024 Company Name: Generation Plant Location Report original cost by year of acquisition. Category ASSET DESCRIPTION 2015 2014 2013 2012 2011 2010 2009 2008 G Long-lived electric generation machinery and equipment Category ASSET DESCRIPTION 2007 2006 2005 2004 2003 2002 2001 2000 prior& G Long-lived electric generation machinery and equipment * Property of certified coal pollution control facilities (TP-7-239) for which a Certificate of Public Convenience and Necessity is issued after January 1, 1997 must be separately reported at original cost by year of acquisition. If the certified pollution control facility is a replacement, retrofit, or repair of equipment that was subject to tax on or before December 31, 1996, the cost by year of acquisition of that property must be separately identified and reported. MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 Maryland 10 http://dat.maryland.gov _Public Utility 2024- Form 17G ASSESSMENTSDEPARTMENTAND TAXATIONOF of 14 |
Maryland Form 17G-2, January 1, 2024 Company Name: Beginning of Period End of Period Within Total Within Total Maryland Maryland ASSETS CURRENT ASSETS Cash Marketable Securities Accounts Receivable Inventory Other Current Assets PROPERTY, PLANT & EQUIPMENT Land Buildings Leasehold Improvements Equipment Accumulated Depreciation Net Property, Plant & Equipment INTANGIBLE AND OTHER ASSETS Intangible (Net) Other (detail) TOTAL ASSETS LIABILITIES & EQUITY CURRENT LIABILITIES Accounts Payable Other Current Liabilities LONG TERM LIABILITIES & EQUITY Mortgage, Notes, Bonds Payable Other Long Term Liabilities Capital Stock Paid In or Capital Surplus Retained Earnings Other TOTAL LIABILITIES & EQUITY MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 Maryland 11 http://dat.maryland.gov _Public Utility 2024- Form 17G ASSESSMENTS DEPARTMENTAND TAXATIONOF of 14 |
Maryland Form 17G-3, January 1, 2024 DEPRECIATION SCHEDULE OF PROPERTY IN MARYLAND AS OF JANUARY 1, 2024 Original Depreciation Accumulated Book Cost This Year Depreciation Value 1. Land 2. Buildings 3. Leasehold Improvements 4. Transportation Equipment (licensed) (A) 5. Transportation Equipment (not licensed) 6. Furniture & Fixtures 7. Machinery & Equipment 8. Other (Specify) 9. TOTAL 10. Expensed Property (Not Reported on Depreciation Schedule) (B) A. Vehicles with dealer plates, special equipment plates, or wrecker plates are to be reported on line 5. B. Include all property expensed under IRS Section 179 and other expensed property located in Maryland not reported on the depreciation schedule. MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 Maryland 12 http://dat.maryland.gov _Public Utility 2024- Form 17G ASSESSMENTS DEPARTMENTAND TAXATIONOF of 14 |
Maryland Form 17G-4, January 1, 2024 Company Name: MARYLAND PROPERTY DISPOSAL AND TRANSFER RECONCILIATION This form must be completed if question 5 of Section IV was answered yes. Balance Transfers in 2023 Transfers out Balance 1/1/23 During 2023 Acquisitions & Disposals 1/1/2024 Land Buildings Leasehold Improvements Transportation Equipment (Licensed) Transportation Equipment (not licensed) Furniture & Fixtures Machinery & Equipment Other (Specify) TOTAL If transfers or disposals made in 2023 exceed $500,000 or 50% of the total property reported as of 1/1/2023 complete the information below. Date of disposal Manner of disposal? (sale, junked, sold or removed) Name ofbuyer (if sold) MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 Maryland 13 http://dat.maryland.gov _Public Utility 2024- Form 17G ASSESSMENTS DEPARTMENTAND TAXATIONOF of 14 |
MARYLAND COUNTIES & INCORPORATED TOWNS The following is a list of counties and incorporated towns in Maryland. If a company owns property in any of these locations, the property should be reported on Form 17G-1, as outlined in Section IV, 2. ALLEGANY CECIL GARRETT PRINCE GEORGE’S TALBOT Barton Cecilton Accident Berwyn Heights Easton Cumberland Charlestown Deer Park Bladensburg Oxford Frostburg Chesapeake City Friendsville Bowie Queen Anne Lonaconing Elkton Grantsville Brentwood St. Michael’s Luke North East Kitzmiller Capitol Heights Trappe Midland Perryville Loch Lynn Heights Cheverly Westernport Port Deposit Mountain Lake Park College Park WASHINGTON Rising Sun Oakland Colmar Manor Boonsboro ANNE ARUNDEL Cottage City Clearspring Annapolis CHARLES HARFORD District Heights Funkstown Highland Beach Indian Head Aberdeen Eagle Harbor Hagerstown LaPlata Bel Air Edmonston Hancock BALTIMORE CITY Port Tobacco Havre de Grace Fairmount Heights Keedysville Forest Heights Sharpsburg BALTIMORE CO DORCHESTER HOWARD Glenarden Smithsburg Brookview Greenbelt Williamsport CALVERT Cambridge KENT Hyattsville Chesapeake Beach Church Creek Betterton Landover Hills WICOMICO North Beach East New Market Chestertown Laurel Delmar Eldorado Galena Morningside Fruitland CAROLINE Galestown Millington Mt. Rainer Hebron Denton Hurlock Rock Hall New Carrollton MardelaSpring Federalsburg Secretary North Brentwood Pittsville Goldsburg Vienna MONTGOMERY Riverdale Salisbury Greensboro Barnesville Seat Pleasant Sharptown Henderson FREDERICK Brookeville University Park Willards Hillsboro Brunswick Chevy Chase Sec.3 Upper Marlboro Marydel Burkittsville Chevy Chase Sec.5 WORCESTER Preston Emmitsburg Chevy Chase View QUEEN ANNE’S Berlin Ridgely Frederick Chevy Chase Village Barclay Ocean City Templeville Middletown Gaithersburg Centreville PocomokeCity Mt. Airy Garrett Park Church Hill Snow Hill CARROLL Myersville Glen Echo Millington Hampstead New Market Kensington Queen Anne Manchester Rosemont Laytonsville Queenstown Mt. Airy Thurmont Martin’s Addition Sudlersville New Windsor Walkersville North Chevy Chase Templeville Sykesville Woodsboro Poolesville Taneytown Rockville ST. MARY’S Union Bridge Somerset Leonardtown Westminster Takoma Park Town of Chevy Chase SOMERSET Washington Grove Crisfield Princess Anne MARYLAND STATE DEPARTMENT OF ASSESSMENTS & TAXATION 301 WEST PRESTON STREET, BALTIMORE, MARYLAND 21201-2395 Maryland 14 http://dat.maryland.gov _Public Utility 2024- Form 17G ASSESSMENTS DEPARTMENTAND TAXATIONOF of 14 |