Legal Opinion
Appeal of Public Service Co.
Supreme Court of New Hampshire
Decided October 15, 1982No. 81-234PublishedCited by 10 opinions
1Opinion of the CourtDouglas, J.
Public Service Company of New Hampshire (PSNH) appeals from an adverse decision of the board of taxation, alleging the following: (1) that the board erred in interpreting the statutory definition of “franchise taxable income” to include allowance for funds used during construction (AFUDC); and (2) that the inclusion of AFUDC in the franchise valuation for tax purposes is not permitted under the New Hampshire Constitution. For the reasons which follow, we reverse the board’s decision.
AFUDC is an accounting mechanism that tracks the costs incurred by a utility in paying interest on borrowed…
2Cases cited4 opinions
- Opinion of the JusticesSupreme Court of New Hampshire · 1930
- Legislative Utility Consumers' Council v. Public Service Co.Supreme Court of New Hampshire · 1979
- State v. MilletteSupreme Court of New Hampshire · 1972
- Public Service Co. v. StateSupreme Court of New Hampshire · 1957
3Cited by10 opinions
- Chasan v. Village Dist. of EastmanDistrict Court, D. New Hampshire · 1983
- Appeal of Public Service Co.Supreme Court of New Hampshire · 1984
- State v. EtzweilerSupreme Court of New Hampshire · 1984
- In re R.A.Supreme Court of New Hampshire · 2005
- Public Service Co. v. Town of SeabrookSupreme Court of New Hampshire · 1985
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