Sec.  69.402   Operating taxes (Account 7200).

   (a) Federal income taxes, state and local income taxes, and state and local
   gross receipts or gross earnings taxes that are collected in lieu of a
   corporate income tax shall be apportioned among the interexchange category,
   the billing and collection category and all access elements based on the
   approximate net taxable income on which the tax is levied (positive or
   negative) applicable to each element and category.

   (b) All other operating taxes shall be apportioned among the interexchange
   category, the billing and collection category and all access elements in the
   same manner as the investment apportioned to each element and category
   pursuant to  Sec. 69.309 Other Investment.