Legal Opinion
Roanoke Gas Company v. United States
Court of Appeals for the Fourth Circuit
Decided October 1, 1992No. 91-2220PublishedCited by 16 opinions
1Opinion of the Court
OPINION
NIEMEYER, Circuit Judge:
In this appeal we determine whether a utility’s quantifiable obligation to make a future rate adjustment is a deductible business expense for federal income tax purposes.
Under public utility rates established by the Virginia State Corporation Commission, Roanoke Gas Company is entitled to recover from its customers, as part of the rate charged, its cost for purchased natural gas. Because of the lag time between the effective date of a price change for natural gas and the implementation of a rate adjustment to reflect the change, when the price of gas is dropping…
2Cases cited5 opinions
- Commissioner v. Idaho Power Co.Supreme Court of the United States · 1974
- United States v. Hughes Properties, Inc.Supreme Court of the United States · 1986
- Illinois Power Company v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1986
- Iowa Southern Utilities Company and Subsidiary Companies v. The United StatesCourt of Appeals for the Federal Circuit · 1988
- Lx Cattle Company v. United StatesCourt of Appeals for the Fifth Circuit · 1980
3Cited by16 opinions
- Dominion Resources, Incorporated v. United StatesCourt of Appeals for the Fourth Circuit · 2000
- Southwestern Energy Co. v. CommissionerUnited States Tax Court · 1993
- Cinergy Corp. v. United StatesUnited States Court of Federal Claims · 2003
- MidAmerican Energy Co. v. CommissionerUnited States Tax Court · 2000
- Florida Progress Corp. v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 2003
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