TITLE 47 - TELECOMMUNICATION

CHAPTER I - FEDERAL COMMUNICATIONS COMMISSION

SUBCHAPTER B - COMMON CARRIER SERVICES

PART 32 - UNIFORM SYSTEM OF ACCOUNTS FOR TELECOMMUNICATIONS COMPANIES

subpart c - INSTRUCTIONS FOR BALANCE SHEET ACCOUNTS

32.4070 - Income taxesaccrued.

  (a) This account shall be credited or charged and the following accounts shall be charged or credited with the offsetting amount of current year income taxes (Federal, state and local) accrued during the period or adjustments to prior accruals: 7220 Operating Federal Income Taxes, 7230 Operating State and Local Income Taxes, 7400 Nonoperating Taxes, 7600 Extraordinary Items.

  (b) If significant, current year income taxes paid in advance shall be reclassified to Account 1280, Prepayments.

[67 FR 5689, Feb. 6, 2002]