Tex. Utils. Code Section 53.060
Computation of Income Tax; Consolidated Return

(a)

Unless it is shown to the satisfaction of the commission that it was reasonable to choose not to consolidate returns, a public utility’s income taxes shall be computed as though a consolidated return had been filed and the utility had realized its fair share of the savings resulting from that return, if:

(1)

the utility is a member of an affiliated group eligible to file a consolidated income tax return; and

(2)

it is advantageous to the utility to do so.

(b)

The amount of income tax that a consolidated group of which a public utility is a member saves, because the consolidated return eliminates the intercompany profit on purchases by the utility from an affiliate, shall be applied to reduce the cost of the property or service purchased from the affiliate.

(c)

The investment tax credit allowed against federal income taxes, to the extent retained by the utility, shall be applied as a reduction in the rate-based contribution of the assets to which the credit applies, to the extent and at the rate allowed by the Internal Revenue Code.
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.

Source: Section 53.060 — Computation of Income Tax; Consolidated Return, https://statutes.­capitol.­texas.­gov/Docs/UT/htm/UT.­53.­htm#53.­060 (accessed Jun. 5, 2024).

53.001
Authorization to Establish and Regulate Rates 53.002
Compliance with Title 53.003
Just and Reasonable Rates 53.004
Equality of Rates and Services 53.005
Rates for Area Not in Municipality 53.006
Burden of Proof 53.007
Limit on Reconnection Fee 53.051
Establishing Overall Revenues 53.052
Establishing Reasonable Return 53.053
Components of Invested Capital 53.054
Construction Work in Progress 53.055
Separations and Allocations 53.056
Depreciation, Amortization, and Depletion 53.057
Net Income 53.058
Consideration of Payment to Affiliate 53.059
Treatment of Certain Tax Benefits 53.060
Computation of Income Tax 53.061
Allowance of Certain Expenses 53.062
Consideration of Certain Expenses 53.063
Consideration of Profit or Loss from Sale or Lease of Merchandise 53.064
Self-insurance 53.065
Interexchange Services 53.101
Definition 53.102
Statement of Intent to Change Rates 53.103
Notice of Intent to Change Rates 53.104
Early Effective Date of Rate Change 53.105
Determination of Propriety of Change 53.106
Regional Hearing 53.107
Preference to Hearing 53.108
Rate Suspension 53.109
Temporary Rates 53.110
Bonded Rates 53.111
Establishment of Final Rates 53.112
Expiration of Suspension 53.113
Fcc-approved Tariffs for Switched-access Service 53.151
Unreasonable or Violative Existing Rates 53.152
Investigating Costs of Obtaining Service from Another Source 53.201
Automatic Adjustment for Change in Costs Prohibited 53.251
General Policy 53.252
Adoption of Certain Policies 53.301
Definition 53.302
Applicability 53.303
Provisions Not Exclusive 53.304
Procedure to Offer Certain Services or Make Minor Changes 53.305
Notice to Affected Customers 53.306
Commission Review of Proposed Change 53.307
Compliance with Principles 53.308
Fees and Assessments 53.351
Provisions Not Exclusive 53.352
Partial Deregulation by Ballot 53.353
Voting Procedures 53.354
Procedure to Offer Certain Services or Make Certain Changes 53.355
Statement of Intent 53.356
Notice to Affected Persons 53.357
Filing of Affidavits Verifying Notice 53.358
Commission Review of Proposed Action 53.359
Reversal of Deregulation by Ballot
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 53.060’s source at texas​.gov