Goto Section: 32.4330 | 32.4341 | Table of Contents

FCC 32.4340
Revised as of
Goto Year:1996 | 1998
Sec. 32.4340  Net noncurrent deferred operating income taxes.

    (a) This account shall include the balance of income tax expense 
related to noncurrent items from regulated operations which have been 
deferred to later periods as a result of comprehensive interperiod tax 
allocation related to temporary differences that arise from regulated 
operations.
    (b) This account shall be credited or debited, as appropriate, and 
Account 7250, Provision for Deferred Operating Income Taxes--Net, shall 
reflect the offset for the tax effect of revenues and expenses from 
regulated operations which have been included in the determination of 
taxable income, but which will not be included in the determination of 
book income or for the tax effect of revenues and expenses from 
regulated operations which have been included in the determination of 
book income prior to the inclusion in the determination of taxable 
income.
    (c) As regulated assets or liabilities which generated the prepaid 
income tax or deferred income tax are reclassified from long-term or 
noncurrent status to current status, the appropriate deferred income tax 
shall be reclassified from this account to Account 4100, Net Current 
Deferred Operating Income Taxes.
    (d) The classification of deferred income taxes as current or 
noncurrent shall follow the classification of the asset or liability 
that gave rise to the deferred income tax. If there is no related asset 
or liability, classification shall be based on the expected turnaround 
of the temporary difference.
    (e) Subsidiary record categories shall be maintained in order that 
the company may separately report the amounts contained herein that are 
property related and those that are nonproperty related. Such subsidiary 
record categories shall be reported as required by Part 43 of this 
Commission's Rules and Regulations.
[ 51 FR 43499 , Dec. 2, 1986, as amended at  59 FR 9419 , Feb. 28, 1994]

[[Page 449]]


Goto Section: 32.4330 | 32.4341

Goto Year: 1996 | 1998
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