§239-4.5  Segregation of gross income, etc.,on records and in returns of telecommunications businesses.  (a) Notwithstanding section 239-4, any person engaged in the business of sellinginterstate or foreign common carrier telecommunications services taxable undersection 237-13(6)(C), or any public utility defined in section 269-1 havinggross income from the conveyance or transmission of telephone or telegraphmessages, or from the furnishing of facilities for the transmission ofintelligence by electricity, may reasonably segregate in the person's returns,based on its books and records that are kept in the normal course of business:

(1)  The parts of its gross income, gross proceeds ofsales, and value of products subject to taxation under this chapter from theparts subject to taxation under chapter 237; and

(2)  The parts of its gross income, gross proceeds ofsales, and value of products subject to taxation under one provision of thischapter from the parts subject to taxation under any other provision of thischapter.

(b)  The segregation shall be deemed valid solong as the method of segregation does not conflict with rules subsequentlyadopted by the department pursuant to this section. [L 2002, c 236, §2; am L2008, c 16, §9]