CFR > Title 47 - Telecommunication > CHAPTER I—FEDERAL COMMUNICATIONS COMMISSION > SUBCHAPTER B—COMMON CARRIER SERVICES (Parts 20–69) > PART 32—UNIFORM SYSTEM OF ACCOUNTS FOR TELECOMMUNICATIONS COMPANIES > SUBPART C—Instructions for Balance Sheet Accounts (§32.101 to §32.4550) > 32.4330—Unamortized nonoperating investment tax credits—net.

32.4330—Unamortized nonoperating investment tax credits—net.

(a) This account shall be credited and Account 7400, Nonoperating Taxes, shall be debited with investment tax credits generated from qualified expenditures related to other operations which the company has elected to defer rather than recognize currently in income.
(b) This account shall be debited and Account 7400 credited with a proportionate amount determined in relation to the useful book life of the property to which the tax credit relates.
[67 FR 5690, Feb. 6, 2002]