§ 32.7640 - Provision for deferred income tax effect of extraordinary items—net.

Link to an amendment published at 67 FR 5700, Feb. 6, 2002. This amendment was delayed until Jan. 1, 2003, at 67 FR 20052, Apr. 24, 2002.

This account shall be charged or credited, as appropriate, with a contra amount recorded to Account 4350, Net Noncurrent Deferred Nonoperating Income Taxes or Account 4110, Net Current Deferred Nonoperating Income Taxes for the income tax effects (Federal, state and local) of items included in Accounts 7610, Extraordinary Income Credits, and 7620, Extraordinary Income Charges, that have been deferred in accordance with § 32.22 of Subpart B.

Effective Date Note:

At 67 FR 5700, Feb. 6, 2002, § 32.7640 was removed, effective Aug. 6, 2002. At 67 FR 20052, Apr. 24, 2002, the effective date was delayed until Jan. 1, 2003.