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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 18 - Conservation of Power and Water Resources |
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Chapter I - Federal Energy Regulatory Commission, Department of Energy |
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SubChapter C - Accounts, Federal Power Act |
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Part 101 - Uniform System of Accounts Prescribed for Public Utilities and Licensees Subject to the Provisions of the Federal Power Act |
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Subpart A - Uniform System of Accounts Prescribed for Public Utilities and Licensees Subject to the Provisions of the Federal Power Act |
§ 101.420 - Investment tax credits.
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This account shall be credited as follows with investment tax credit amounts not passed on to customers:
A. By amounts equal to debits to accounts 411.4, Investment Tax Credit Adjustments, Utility Operations, and 411.5, Investment Tax Credit Adjustments, Nonutility Operations, for investment tax credits used in calculating income taxes for the year when the company's accounting provides for nondeferral of all or a portion of such credits; and,
B. By amounts equal to debits to account 255, Accumulated deferred investment tax credits, for proportionate amounts of tax credit deferrals allocated over the average useful life of the property to which the tax credits relate, or such lesser period of time as may be adopted and consistently used by the company.