Statutes, codes, and regulations
General Statutes of North Carolina
Chapter 62 - PUBLIC UTILITIES
Article 7 - RATES OF PUBLIC UTILITIES
Section 62-133.12B - Computation of income tax expense for ratemaking purposes; taxable contributions

N.C. Gen. Stat. § 62-133.12B

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Current through Session Law 2024-56
Section 62-133.12B - Computation of income tax expense for ratemaking purposes; taxable contributions

A water or wastewater public utility is solely responsible for funding the income taxes on taxable contributions in aid of construction and customer advances for construction and shall record the income taxes the water or wastewater utility pays in accumulated deferred income taxes for accounting and ratemaking purposes.

N.C. Gen. Stat. § 62-133.12B

Added by 2021 N.C. Sess. Laws 76,s. 4, eff. 7/2/2021.