Accounting Treatment of the Investment Tax Credit and Accelerated Depreciation for Public Utility Ratemaking Purposes: Hearing Before the Committee on Ways and Means, House of Representatives, Ninety-sixth Congress, Second Session, on H.R. 6806 and H.R. 3165, April 15, 1980

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U.S. Government Printing Office, 1980 - 136 lappuses

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11. lappuse - The House Ways and Means Committee compromised by giving the public utilities one-half the credit allowed other industries. The Committee justified the decision as follows : "The smaller credit [for public utilities] is provided * * * because much of its benefit in these regulated industries is likely to he passed on in lower rates to consumers, thereby negating much of the stimulative effect on investments.
11. lappuse - Mr. Chairman and members of the subcommittee, I welcome this opportunity to appear before you to...
56. lappuse - Kansas saves Twenty Years An Advertisement of the American Telephone and Telegraph Company MORE than three hundred studies are being carried on constantly by the research, engineering and business staffs of the American Telephone and Telegraph Company and the associated companies of the Bell System to accomplish definite improvements in telephone service. In 1 927 the number of local calls not completed on the first attempt was reduced by 5 per cent.
91. lappuse - In order to use a normalization method of accounting with respect to any public utility property — "(i) the taxpayer must use the same method of depreciation to compute both its tax expense and its depreciation expense for purposes of . establishing its cost of service for ratemaking purposes and for reflecting operating results in its regulated books of account...
16. lappuse - ... (B) Rate base reduction. If the base to which the taxpayer's rate of return for ratemaking purposes is applied is reduced by reason of any portion of the credit allowable by section 38 (determined without regard to this subsection) . (3) Special rule for immediate flow-through in certain cases.
136. lappuse - ... if the rates for such furnishing or sale, as the case may be, have been established or approved by a State or political subdivision thereof, by an agency or instrumentality of the United States, or by a public service or public utility commission or other similar body of the District of Columbia or of any State or political subdivision thereof.
60. lappuse - Bell Telephone Company of Nevada, Illinois Bell Telephone Company, Indiana Bell Telephone Company, Incorporated, Michigan Bell Telephone Company, New England Telephone and Telegraph Company, New Jersey Bell Telephone Company, New York Telephone Company...
51. lappuse - Our examinations were made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the financial statements referred to above present fairly the financial position of...
58. lappuse - The objective of the credit is to reduce the net cost of acquiring new equipment; this will have the effect of increasing the earnings of new facilities over their productive lives and increasing the profitability of productive investment.
60. lappuse - New Jersey Bell Telephone Company. The Bell Telephone Company of Pennsylvania. The Diamond State Telephone Company. The Chesapeake and Potomac Telephone Company.

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