For purposes of determining a utility’s cost of service in rate-making proceedings, the income tax expense portion shall be calculated on the basis of net income before income taxes. Any difference between income based on the utility’s accounting records and income determined in accordance with United States Internal Revenue Service laws and regulations will be accounted for as required by generally accepted accounting principles governing all businesses.
History. Code 1933, § 93-307.4, enacted by Ga. L. 1981, p. 121, § 5.
Structure Georgia Code
Title 46 - Public Utilities and Public Transportation
Chapter 2 - Public Service Commission
Article 2 - Jurisdiction, Powers, and Duties Generally
§ 46-2-20. Jurisdiction of Commission Generally; Powers and Duties of Commission Generally
§ 46-2-25.3. Toll-Free Calls Within 22 Miles of Exchange; Hearings; “Net Gain” Defined
§ 46-2-26.1. Accounting Methods to Be Used by Electric Utilities in Rate-Making Proceedings
§ 46-2-26.2. Tax Accounting by Utilities in Rate-Making Proceedings
§ 46-2-26.4. Accounting Procedures in Gas Utility Rate Proceedings
§ 46-2-30. Power of Commission to Make Rules and Regulations Generally
§ 46-2-31. Annual Report by Commission to Governor
§ 46-2-33. Costs Incurred by Commission Charged to Utility; Invoicing; Recovery