Allowable methods of accounting
Sec. 7. A taxpayer shall use either the cash or accrual method of
accounting for purposes of determining the taxpayer's utility receipts
tax liability. If a taxpayer uses either the cash or accrual method of
accounting for federal tax purposes, the taxpayer must also use that
same method in determining the taxpayer's utility receipts tax
liability. If a taxpayer does not use either the cash or accrual method
of accounting for federal tax purposes, the taxpayer shall use the cash
method in determining the taxpayer's utility receipts tax liability.
As added by P.L.192-2002(ss), SEC.47.
Last modified: May 28, 2006