§ 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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