Topic:"Taxes" in M03154

Matter: P-111.6 - Nova Scotia Power Inc. - Approval of NSPI's Amended Accounting Policy and Procedures Manual. (US GAAP)Conversion to US Generally Accepted Accounting Principles for financial reporting purposes.

5 passages 5 documents

Taxes across all matters →

N-1Nova Scotia Power Inc. - Accounting Policy and Procedure Manual 5/14/2010 1 passage

POLICY p. p. 47

POLICY - 01 The taxes payable method should be used to record income tax expense except as outlined in paragraph 02. - 02 The Company will recognize a deferred regulatory asset (liability) related to the Fuel Adjustment Mechanism (FAM). Fu...

AI summary The text outlines accounting policies for income tax expense, emphasizing the taxes payable method except for the Fuel Adjustment Mechanism (FAM), which involves deferred regulatory assets/liabilities. Future income tax assets/liabilities are recognized based on NSPI's statutory tax rates and FAM reversals.

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06394Board Order 2/16/2011 1 passage

INCOME TAXES - 5900 p. pp. 50-51

INCOME TAXES - 5900 - 10 A monthly income tax provision is recorded by multiplying the Company's effective combined federal and provincial income tax rate forecasted for the year (calculated without inclusion of the forecasted FAM adjustme...

AI summary The document outlines the methodology for recording income tax provisions, including the calculation of monthly income tax provisions, taxable capital estimates, and the treatment of Part VI.1 tax expenses. It also describes the use of capital cost allowance and cumulative eligible capital to minimize taxable income.

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05338Letter request Board review Batch 3 revisions. 9/24/2010 1 passage

PROVINCIAL INCOME TAXES p. p. 13

PROVINCIAL INCOME TAXES 07 The Company is subject to provincial income tax at prescribed rates applied to taxable income.

AI summary The Company is subject to provincial income tax at prescribed rates applied to its taxable income.

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06100Compliance Filing - Accounting Policy and Procedures Manual 1/11/2011 1 passage

09 The Company is subject to Part VI.1 tax at a prescribed rate applied to preferred share dividends paid. The Company receives a tax deduction equal to a prescribed multiple of the Part VI.1 tax. p. pp. 49-50

09 The Company is subject to Part VI.1 tax at a prescribed rate applied to preferred share dividends paid. The Company receives a tax deduction equal to a prescribed multiple of the Part VI.1 tax. 1 FASB ASC 980-740-25-2

AI summary The Company is subject to Part VI.1 tax on preferred share dividends, with a tax deduction based on a prescribed multiple of this tax. The text references FASB ASC 980-740-25-2, indicating a connection to accounting standards related to taxes.

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06394Board Order 2/16/2011 1 passage

PROVINCIAL INCOME TAXES p. p. 50

PROVINCIAL INCOME TAXES 07 The Company is subject to provincial income tax at prescribed rates applied to taxable income.

AI summary The Company is subject to provincial income tax at prescribed rates applied to its taxable income.

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