Goto Section: 32.4340 | 32.4350 | Table of Contents
Revised as of October 1, 2020
Goto Year:2019 |
§ 32.4341 Net deferred tax liability adjustments.
(a) This account shall include the portion of deferred income tax
charges and credits pertaining to Account 32.4361, Deferred tax
(b) This account shall be used to record adjustments to the accumulated
deferred tax liabilities recorded in Accounts 4100 and 4340 for:
(1) Tax effects of temporary differences accounted for under the
flow-through method or treated as permanent differences.
(2) Reclassification attributable to changes in tax rates (Federal,
state and local). As tax rates increase or decrease, the offsetting
debit or credit will be recorded in Account 4361 as required by
paragraph (a) of this section.
(3) The tax effects of carryforward net operating losses and
carryforward investment tax credits expected to reduce future taxes
payable that are reported in published financial statements.
(4) Reversals of the tax effects of carryforward net operating losses
and carryforward investment tax credits previously recorded in this
account at the time they become recognized as reductions in current
taxable income and current taxes payable on tax returns.
(c) This account shall be exempt from the vintage year detail record
requirements of § 32.22(e)(2).
[ 59 FR 9419 , Feb. 28, 1994, as amended at 67 FR 5690 , Feb. 6, 2002]
Goto Section: 32.4340 | 32.4350
Goto Year: 2019 |
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