TITLE 46 PUBLIC UTILITIES AND PUBLIC TRANSPORTATION

Section 2. Public Service Commission, 46-2-1 through 46-2-95.

ARTICLE 2 JURISDICTION, POWERS, AND DUTIES GENERALLY

46-2-26.2. Tax accounting by utilities in rate-making proceedings.

For purposes of determining a utility's cost of service in rate-making proceedings, the income tax expense portion shall be calculated on the basis of net income before income taxes. Any difference between income based on the utility's accounting records and income determined in accordance with United States Internal Revenue Service laws and regulations will be accounted for as required by generally accepted accounting principles governing all businesses.

(Code 1933, § 93-307.4, enacted by Ga. L. 1981, p. 121, § 5.)