Goto Section: 32.4330 | 32.4341 | Table of Contents
FCC 32.4340
Revised as of October 1, 2011
Goto Year:2010 |
2012
§ 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: 2010 |
2012
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