26 U.S.C. § 88 — Certain amounts with respect to nuclear decommissioning costs

submitted 42 years ago by Pub. L. 98-369 to r/title-26-INTERNAL-REVENUE-CODE · 46 words · no verdicts yet

in plain englishAI-generated · not legal advice

A taxpayer who must include nuclear decommissioning costs in customer rates must count that amount as income. This applies for whichever tax year the cost was included in rates.

If a taxpayer is required to include the amount of any nuclear decommissioning costs in its cost of service for setting utility rates, that same amount must be included in the taxpayer's gross income for the taxable year in which it was so included.

the actual law source: uscode.house.gov ↗public domain

In the case of any taxpayer who is required to include the amount of any nuclear decommissioning costs in the taxpayer’s cost of service for ratemaking purposes, there shall be includible in the gross income of such taxpayer the amount so included for any taxable year.

Source credit: (Added Pub. L. 98–369, div. A, title I, § 91(f)(1), July 18, 1984, 98 Stat. 607; amended Pub. L. 99–514, title XVIII, § 1807(a)(4)(E)(vii), Oct. 22, 1986, 100 Stat. 2813.)

history & why it existsrecord from the source credit

1984Enacted · Pub. L. 98-369 · 98 Stat. 607
1986Amended · Pub. L. 99-514 · 100 Stat. 2813

A history note hasn’t been published yet. The record shows enactment by Pub. L. 98-369 on 1984-07-18.

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