§ 32.4361   Deferred tax regulatory adjustments—net.

   (a) This account shall include amounts of probable future revenue for the
   recovery of future increases in taxes payable and amounts of probable future
   revenue reductions attributable to future decreases in taxes payable. As
   reductions or reversals occur, amounts recorded in this account shall be
   reduced or increased, with a contra entry being made to Account 4341, Net
   deferred tax liability adjustments.

   (b) This account shall also be adjusted for the impact of prospective tax
   rate changes on the deferred tax liability for those temporary differences
   underlying its existing balance.

   [ 67 FR 5690 , Feb. 6, 2002]

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