Until the ACFR grants it official status, the XML
A summary of the bill's tax provisions are provided below. Commenters should address specifically how their approach would be applied in the MLP's or other pass-through entity's cost of service.
20. The Interstate Natural Gas Association of America, Edison Electric Institute and the Industrial Energy Consumers of America also sent letters to the Commission in reference to the effects of the Tax Cuts and Jobs Act. Note that the rules discussed above apply only to alimony—cash payments made to an ex-spouse under a divorce or separation agreement that are paid as long as the ex-spouse is alive.
documents in the last year, 40 Register (ACFR) issues a regulation granting it official legal status. In the NOPR, the Commission proposes to require interstate natural gas pipelines to make an informational filing with the Commission regarding the effect on their revenue requirements of the (a) Tax Cuts and Jobs Act and (b) the Revised Policy Statement on Treatment of Income Taxes. The modification must specifically state that the TCJA treatment of alimony payments (not deductible by the payer and not taxable income for the recipient) applies. This document has been published in the Federal Register. documents in the last year, 106 Federal Register provide legal notice to the public and judicial notice
6, page 700. and the Interstate Commerce Act [9] Likewise, commenters should address for oil pipelines how these issues should be applied in cost-of-service ratemaking and in the cost-of-service summary on Form No. But for almost 80 years the tax law helped out divorced couples. 36.
informational resource until the Administrative Committee of the Federal 11. regarding natural gas pipelines. While the Commission's understanding is that the Internal Revenue Code does not apply the same standard to oil pipelines,[26]
Counts are subject to sampling, reprocessing and revision (up or down) throughout the day. 6, page 700, they must report an income tax allowance and cost of service consistent with the Revised Policy Statement [16] from 12 agencies, updated on 8:45 AM on Monday, October 5, 2020, 106 documents Section 13001 of the Tax Cuts and Jobs Act. 168(i)(9) & (10) (not including oil pipelines among the list of public utilities subject to the normalization requirement and the prohibition against flowing through to ratepayers accelerated depreciation in cost-of-service rates).
Payments of alimony or separate maintenance made by one ex-spouse to the other under a divorce or separation decree have long been deductible by the paying spouse and taxable income to the receiving spouse.
20. Accelerated depreciation usually lowers income taxes payable during the early years of an asset's life followed by corresponding increases in income taxes payable during the later years of an asset's life. Under currently effective requirements governing the schedule for indexing changes, the index will be re-assessed in 2020 based upon industry-wide oil pipeline cost changes between 2014 and 2019. Corporate Finance Commons, the amortization of excess plant-based ADIT also may affect oil pipeline cost-of-service ratemaking.
When the tax expense decreases, so does the cost of service. 29. That is, a company that purchases a qualified business property and places it into service within a taxable year can take a first year deduction in addition to any depreciation deduction available.
documents in the last year, 1421
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25. JCT Releases TCJA Blue Book: The Joint Committee on Taxation (JCT) released its General Explanation of Public Law 115-97, the Tax Cuts and Jobs Act, commonly JCT Releases TCJA Blue Book: The Joint Committee on Taxation (JCT) released its General Explanation of Public Law 115-97, the Tax Cuts and Jobs Act, commonly referred to as the “Blue Book.” 18. on
In light of the Tax Cuts and Jobs Act, the Commission received letters from several entities requesting that the Commission act to ensure that the economic benefits related to the reduction in the federal corporate income tax rate are passed through to customers. The Tax Cuts and Jobs Act (TCJA), the massive new tax law enacted by Congress in 2017, permanently eliminates the deduction for alimony payments made for people who get divorced in 2019 and later.
The Commission must ensure that the rates, terms, and conditions of jurisdictional services under the Federal Power Act (FPA),[7] [19], 12. More tax ends up being paid if the payer is in a higher tax bracket than the recipient. It is not an official legal edition of the Federal
New Documents One of the significant changes with widespread effects on Commission-jurisdictional rates is the reduction of the federal corporate income tax rate from a maximum 35 percent to a flat 21 percent rate, effective January 1, 2018.
6, page 700 reporting practices and, as relevant, to cost-of-service ratemaking.
on
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