N.Y. Comp. Codes R. & Regs. tit. 16 § 683.3

Current through Register Vol. 46, No. 53, December 31, 2024

Section 683.3 - Classification of companies

(a) For accounting purposes, radio-telephone utilities are divided into two classes, as follows:

(1) Class 1. Companies having annual radio-telephone utility operating revenues exceeding $50,000;

(2) Class 2. Companies having annual radio-telephone utility operating revenues not exceeding $50,000.

(b) Class 1 companies shall keep all the accounts of this system of accounts which are applicable to their affairs.

(c) It is recommended that class 2 companies keep all the applicable accounts prescribed for class 1 companies.

(d) The initial classification of a company shall be determined by its lowest annual radio-telephone utility operating revenues for the three immediately preceding years, except that if a company's annual radio-telephone utility revenues exceeded $70,000 in any one of the three years, it shall be a class 1 company. Subsequent changes in classification shall be made when the annual operating revenues show a greater or lesser classification for three consecutive years, except that if a company's annual radio-telephone utility operating revenues exceed $70,000 in any one of the three years, it shall immediately be classified as a class 1 company. Companies becoming subject to the jurisdiction of the commission and not having revenue data for the three immediately preceding years shall estimate the amount of their annual revenues and adopt the scheme of accounts appropriate for the amount of such estimated revenues.

N.Y. Comp. Codes R. & Regs. Tit. 16 § 683.3