Sec. 32.4100  Net current deferred operating income taxes.

    (a) This account shall include the balance of income tax expense 
related to current items from regulated operations which have been 
deferred to

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later periods as a result of the normalized method of accounting for tax 
differentials authorized by this Commission and not provided for 
elsewhere.
    (b) As regulated assets or liabilities which generated the deferred 
income tax are reclassified from long-term or noncurrent status to 
current, the appropriate deferred income tax shall be reclassified from 
Account 4340, Net Noncurrent Deferred Operating Income Taxes, to this 
account.
    (c) This account shall be debited or credited with the amount being 
debited or credited to Account 7250, Provision For Deferred Operating 
Income Taxes--Net, in accordance with that account's description and 
Sec. 32.22 of subpart B.
    (d) The classification of deferred income taxes as current or 
noncurrent shall follow the classification of the asset or liability 
that gave rise to the deferred income tax. If there is no related asset 
or liability, classification shall be based on the expected turnaround 
of the temporary differences.
    (e) Subsidiary record categories shall be maintained in order that 
the company may separately report the amounts contained herein that are 
property related and those that are nonproperty related. Such subsidiary 
record categories shall be reported as required by Part 43 of this 
Commission's Rules and Regulations.
[ 51 FR 43499 , Dec. 2, 1986, as amended at  59 FR 9419 , Feb. 28, 1994]