Goto Section: 32.4330 | 32.4341 | Table of Contents

FCC 32.4340
Revised as of October 1, 2006
Goto Year:2005 | 2007
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]


Goto Section: 32.4330 | 32.4341

Goto Year: 2005 | 2007
CiteFind - See documents on FCC website that cite this rule

Want to support this service?
Thanks!

Report errors in this rule. Since these rules are converted to HTML by machine, it's possible errors have been made. Please help us improve these rules by clicking the Report FCC Rule Errors link to report an error.
hallikainen.com
Helping make public information public