Sec. 69.402  Operating taxes (Account 7200).

    (a) Federal income taxes, state and local income taxes, and state 
and local gross receipts or gross earnings taxes that are collected in 
lieu of a corporate income tax shall be apportioned among the 
interexchange category, the billing and collection category and all 
access elements based on the approximate net taxable income on which the 
tax is levied (positive or negative) applicable to each element and 
category.
    (b) All other operating taxes shall be apportioned among the 
interexchange category, the billing and collection category and all 
access elements in the same manner as the investment apportioned to each 
element and category pursuant to Sec. 69.309 Other Investment.