Goto Section: 32.7230 | 32.7250 | Table of Contents

FCC 32.7240
Revised as of December 4, 2012
Goto Year:2011 | 2013
§  32.7240   Operating other taxes.

   (a) This account shall be charged and Account 4080, Other
   Taxes—Accrued, shall be credited for all taxes, other than Federal,
   state and local income taxes and payroll related taxes, related to
   regulated operations applicable to current periods. Among the items
   includable in this account are property, gross receipts, franchise and
   capital stock taxes; this account shall also reflect subsequent
   adjustments to amounts previously charged.

   (b) Special assessments for street and other improvements and special
   benefit taxes, such as water taxes and the like, shall be included in
   the operating expense accounts or investment accounts, as may be
   appropriate.

   (c) Discounts allowed for prompt payment of taxes shall be credited to
   the account to which the taxes are chargeable.

   (d) Interest on tax assessments which are not paid when due shall be
   included in Account 7500, Interest and related items.

   (e) Taxes paid by the company under tax-free covenants on indebtedness
   shall be charged to Account 7300, Nonoperating income and expense.

   (f) Sales and use taxes shall be accounted for, so far as practicable,
   as part of the cost of the items to which the taxes relate.

   (g) Taxes on rented telecommunications plant which are borne by the
   lessee shall be credited by the owner to Account 5200, Miscellaneous
   revenue, and shall be charged by the lessee to the appropriate Plant
   Specific Operations Expense account.

   [ 51 FR 43499 , Dec. 2, 1986, as amended at  67 FR 5698 , Feb. 6, 2002]

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Goto Section: 32.7230 | 32.7250

Goto Year: 2011 | 2013
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