I’m asking this since i’ve seen income matter of companies that have been in detriment as well as still profitable tax. How can the association be taxed if it’s in detriment ?
please additionally allude to internet references
- accounting problem with gross profit ratio, the net income and inventory turnover ratio? (1)
- Last year rattner Robotics had $5,000,000 in operating income (EBIT).? (0)
- $5,000,000 in operating income (EBIT). net depreciation expense of $1,000,000 and interest e? (0)
- EBIT vs. Operating Income? (0)
- Are operating income and EBIT the same thing? (3)
- Last year rattner Robotics had $5,000,000 in operating income (EBIT). The company had net depreciation expens? (1)
- Last year Rattner Robotics had $5 million in operating income (EBIT). The company had net depreciation expense (2)
- Liberals, in corporate profit tax what theory do you rely upon? (7)
- can i gift profits from an invest property to avoid income tax on that profit? (9)
- My net monthly income is 25000.How do I invest so as to have a good profit in the long run?From India? (8)
- operating profit / turnover * 100 =? (2)
- Is Plug-in Profit Site with multiple streams of Income worthy of possessing? (2)
- what is gross investment income ? (1)
- What is the Income Tax treatment of a loss under ” Viatical” contract purchased for profit , but had a loss. (3)
- What is Company Y’s Operating income Return on Investment? (1)
- What will happen if you did not file your new business income tax because no profit gain? (7)
- Do I have to report Rental Income to IRS even if I don’t make profit monthly? (7)
- Is accounting profit the same thing as net income? (1)
- Corporate Income Tax in Thailand For Thai and Foreign Companies (0)
- An Investor’s Eye View of the Corporate Income Tax (0)
Tagged as: applies, corporate, EBIT, gross, Income, Operating, profit
{ 3 comments… read them below or add one }
I would guess the reason would be they had income from sales so anytime there is a sale, they have to pay tax. even though the bottom ends in a loss.
Well, I can tell you that in the state of NJ, states taxes are based on gross receipts, not net. Some other states have minimum liabilities as well.
Federal corporate income tax is paid on taxable income at the federal level. If you’re seeing income statements, they’re prepared using Generally Accepted Accounting Principles in the United States which is not prepared the same as for taxes. A company can have a loss for financial statement purposes but still have taxable income due to book/tax differences.