The assumptions are as follows: The company has ($3,176) of taxable income and ($100) of tax credits
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The assumptions are as follows:
The company has \($3,176\) of taxable income and \($100\) of tax credits for the current year.
The \($84\) DTA for \($400\) of operating loss carryforwards was recognized at the beginning of the current year.
Effective tax rate is 20%.
Statutory tax rate is 21%.
Pre-tax financial income from continuing operations is \($10,000.\) Income tax expense from continuing operations is \($2,000.\)
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