20 CRR-NY 47.2NY-CRR
20 CRR-NY 47.2
20 CRR-NY 47.2
47.2 Methods of accounting.
(a) The State Tax Commission is not disposed to put utilities to the additional expense of establishing new or revised accounting systems or of keeping additional or supplemental records. It will consider adequate and satisfactory the accounting methods—cash or accrual—regularly employed by the taxpayer, if the accounts so kept admit of the computation of gross income, or gross operating income as the case may be.
(b) Satisfactory explanations will be required concerning any changes in regular methods of keeping accounts.
20 CRR-NY 47.2
Current through February 28, 2023
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.