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(a) The operating expenses during a year for an oil pipeline include that year's amounts for the pipeline that are properly included in the following accounts under FERC's Uniform System of Accounts for oil pipelines:
Operations
300 Salaries and wages
310 Supplies and expenses
320 Outside services
330 Operating fuel and power
340 Oil losses and shortages
Maintenance
400 Salaries and wages
410 Supplies and expenses
420 Outside services
430 Maintenance materials
General
500 Salaries and wages
510 Supplies and expenses
520 Outside services
530 Rentals
540 Depreciation and amortization
550 Pensions and benefits
560 Insurance
570 Casualty and other losses
(b) In addition to the amounts included in the accounts listed in (a) of this section, the operating expenses during a year for an oil pipeline also include
(1) accruals to third parties during that year, by any member of the consolidated business of which the taxpayer is a part, for uncapitalized interest on capital borrowed to acquire, construct, or enlarge the facilities of the pipeline; and
(2) accruals during that year for taxes of all kinds, excepting federal income taxes and the taxes administered under this chapter, relating to the carrier property, operations, privileges, and licenses of that pipeline.
History: Eff. 2/22/79, Register 69; am 8/29/85, Register 95
Authority: AS 43.05.080
Art. IV, § 18
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Last modified 7/05/2006