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Code of Federal Regulations Title 47. Telecommunication § 47.32.4070 Income taxes—accrued

Current as of January 02, 2025 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 47. Telecommunication § 47.32.4070 Income taxes—accrued - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-47-telecommunication/cfr-sect-47-32-4070/

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