47 C.F.R. § 32.7220 Operating Federal income taxes.
Title 47 - Telecommunication
(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.
Title 47: Telecommunication
PART 32—UNIFORM SYSTEM OF ACCOUNTS FOR TELECOMMUNICATIONS COMPANIES
Subpart F—Instructions For Other Income Accounts
§ 32.7220 Operating Federal income taxes.
