NAC704.6546. Use of separate-entity method by utility members of consolidated group.

Latest version.

1. In computing federal income taxes, utility members of a consolidated group must use a separate-entity method, rather than a consolidated-company approach which includes impacts of nonutility and affiliated operations.

2. As used in this section, “consolidated group” means the combination of two or more affiliated corporations or enterprises for the purposes of financial statements, income tax returns, or both, which may include utility and nonutility operations or entities.

(Added to NAC by Pub. Service Comm’n, eff. 8-31-89)

                    
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