Goto Section: 32.4080 | 32.4110 | Table of Contents
Revised as of September 1, 2021
Goto Year:2020 |
§ 32.4100 Net current deferred operating income taxes.
(a) This account shall include the balance of income tax expense
related to current items from regulated operations which have been
deferred to later periods as a result of the normalized method of
accounting for tax differentials authorized by this Commission and not
provided for elsewhere.
(b) As regulated assets or liabilities which generated the deferred
income tax are reclassified from long-term or noncurrent status to
current, the appropriate deferred income tax shall be reclassified from
Account 4340, Net Noncurrent Deferred Operating Income Taxes, to this
(c) This account shall be debited or credited with the amount being
debited or credited to Account 7250, Provision For Deferred Operating
Income Taxes—Net, in accordance with that account's description and
§ 32.22 of subpart B.
(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 differences.
(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: 32.4080 | 32.4110
Goto Year: 2020 |
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