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) > 32.4361—Deferred tax regulatory adjustments—net.

32.4361—Deferred tax regulatory adjustments—net.

(a) This account shall include amounts of probable future revenue for the recovery of future increases in taxes payable and amounts of probable future revenue reductions attributable to future decreases in taxes payable. As reductions or reversals occur, amounts recorded in this account shall be reduced or increased, with a contra entry being made to Account 4341, Net deferred tax liability adjustments.
(b) This account shall also be adjusted for the impact of prospective tax rate changes on the deferred tax liability for those temporary differences underlying its existing balance.
[67 FR 5690, Feb. 6, 2002]