Goto Section: 32.7210 | 32.7230 | Table of Contents

FCC 32.7220
Revised as of October 1, 2014
Goto Year:2013 | 2015
  § 32.7220   Operating Federal income taxes.

   (a) This account shall be charged and Account 4070, Income
   Taxes-Accrued, shall be credited for the amount of Federal Income Taxes
   for the current period. This account shall also reflect subsequent
   adjustments to amounts previously charged.

   (b) Taxes should be accrued each month on an estimated basis and
   adjustments made as later data becomes available.

   (c) Tax credits, other than investment tax credits, if normalized,
   shall be recorded consistent with the accounting for investment tax
   credits and shall be amortized to income as directed by this
   Commission.

   (d) No entries shall be made to this account to reflect interperiod tax
   allocations.

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Goto Section: 32.7210 | 32.7230

Goto Year: 2013 | 2015
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