Sec. 32.4080  Other taxes--accrued.

    (a) This account shall be credited or charged and Account 7240, 
Operating Other Taxes, or 7440, Nonoperating Other Taxes, or, for 
payroll related costs, the appropriate expense accounts shall be charged 
or credited for all taxes, other than Federal, State and local income 
taxes, accrued or adjusted for previous accruals during the period. 
Among the taxes includable in this account are property, gross receipts, 
franchise, capital stock, social security and unemployment taxes.
    (b) Taxes paid in advance of the period in which they are chargeable 
to income shall be included in the prepaid taxes Account 1300, Prepaid 
Taxes, or 1410, Other Noncurrent Assets, as appropriate.