In the example above, that would mean it was the $ 30 shares that were sold, creating a taxable profit of $ 23, 000.
22.
Alas, tax law requires that a business report a taxable profit at least two of every five years, or those deductions will be disallowed.
23.
Taxable profits are determined using the result posted in the annual accounts ( balance sheet and Income statement ) drawn up under the Commercial Code.
24.
The company increased its dividend even though taxable profits fell 16 . 5 percent to 120 . 4 million pounds ( $ 192 . 1 million ).
25.
One main reason that taxable profits fell was stock options, said Timothy J . McCormally, general counsel for the Tax Executives Institute, whose members work for large corporations.
26.
Moreover, wages, unlike dividends, are deductible in the computation of corporate taxable profits, and so pass to employees with no amount deducted for tax at the corporate level.
27.
But it was the market, by generating tremendous taxable profits for investors and option-holding employees, that accounted for the lion's share of the unexpectedly large surpluses of recent years.
28.
Depending on the reason for the differences between profit before tax and taxable profit, the company may show a deferred tax or tax asset to account for future taxes.
29.
The technique permits companies to turn otherwise taxable profits earned in the United States into tax-deductible expenses paid to a parent company in Bermuda or other tax haven countries.
30.
The government said Tuesday it will investigate whether ousted dictator Kamuzu Banda broke business laws and defrauded the state of taxable profits as he amassed a huge private fortune.
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