§  32.4330   Unamortized nonoperating investment tax credits--net.

   (a) This account shall be credited and Account 7400, Nonoperating
   Taxes, shall be debited with investment tax credits generated from
   qualified expenditures related to other operations which the company
   has elected to defer rather than recognize currently in income.

   (b) This account shall be debited and Account 7400 credited with a
   proportionate amount determined in relation to the useful book life of
   the property to which the tax credit relates.

   [ 67 FR 5690 , Feb. 6, 2002]

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