NAC361.342. “Normalization accounting” defined.

“Normalization accounting” means the practice of charging to the current period those expenses related to the current period rather than to the period in which they are actually incurred. A common example is the computation and assignment of income tax expense to a period based on a straight-line depreciation method rather than on an accelerated depreciation method actually used. The income tax expense computation may or may not have included the additional variable of normal lives versus allowable guideline lives. See NAC 361.288.

     [Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]