Okla. Admin. Code § 165:70-5-30

Current through Vol. 42, No. 7, December 16, 2024

Section 165:70-5-30 - Section J - Income taxes

Section J - Income Taxes of the supplemental package shall contain workpapers as follows:

(1) W/P J-1 - Test Year Calculation of Taxes: An analysis showing the separate calculation of current income tax expense and deferred income tax expense.

(2) W/P J-2 - Reconciliation of Taxes: A reconciliation of per book income and taxable income for the test year.

(3) W/P J-3 - Deferred Income Taxes: A reconciliation of deferred income taxes recognized for ratemaking purposes and used as a rate base deduction with the recorded deferred income taxes. Identify all differences.

(4) W/P J-4 - Deferred Income Taxes-Timing Differences Other Than Depreciation: A schedule of deferred income taxes showing the timing differences applicable to differences other than those related to depreciation. Also include a calculation of overstated or understated deferred income taxes related to the above which resulted from changes in income tax rates and the amounts which have been amortized and included in the cost of service or which resulted in refunds to the utility's ratepayers.

(5) W/P J-5 - Deferred Income Taxes-Depreciation: An analysis of deferred income tax liabilities related to depreciation to the extent they apply as follows:

	Plus	Net depreciable book basis
	Minus	Equity allowance for funds used during construction
	Minus	Investment tax credit basis adjustment
	Minus	Other identified permanent differences
	Equals	Net book basis less major permanent differences
	Minus	Net depreciable tax basis
	Equals	Difference
	Times	Current tax rate
	Equals	Deferred tax liability
	Minus	Depreciation related to deferred income taxes per books
	Equals	Difference from recorded deferred income tax liability

(6) W/P J-6 - Deferred Income Taxes Unrecorded: A list, with explanations, for the unrecorded deferred income tax liabilities identified in W/P J-5 in (5) of this Section. Identify the amount of the unrecorded deferred income taxes that shall be collected from the ratepayers, and provide all documentation and explanations to support that position. Identify the amount of any adjustment that shall be made to deferred income taxes for unrecorded amounts.

Okla. Admin. Code § 165:70-5-30

Added at 11 Ok Reg 3753, eff 7-11-94