Only if realized equity is above its requirement, will the entire net income
be transferable to the Government.
We want to highlight our earnings estimate does not include potential rig impairments and a rig impairment cannot be ruled out, which could, once again, wipe out the entire net income
for the year," the report said.
Under the reform law, the entire net income
(ENI) base will be changed to the business income tax base, which will result in the following major changes:
At the same time, ENI (Entire Net Income
), which reflects our current value creation, remains at record levels, reaching $4.3 billion for the past twelve months."
The investor is free to donate the entire net income
on the investments to the DAC.
Per the provisions of her trust document, the trustee, T2, is required to pay G2 the trust's entire net income
during her lifetime.
We also support temporarily removing the limitation on business credits carried to taxable years ending in 2008 and 2009, thereby permitting such credits to offset the entire net income
New York has a Corporate Franchise Tax of 8 percent on "allocated entire net income
" (substantially the same as taxable income).
If Mom serves as an officer of the corporation and keeps a controlling interest in the S corporation so she can control the Board of Directors, when it comes time to distribute profits, the Board of Directors can declare a bonus to Mom of the entire net income
of the S corporation, thereby precluding any net income to be distributed to the shareholders (i.e., the son as beneficiary of a QSST).
Lavedna and her son were the trustees of that trust, which provided for the entire net income
to be distributed to Lavedna.
Section 208.9 provides that "entire net income
" is "total net income from all sources, which shall be presumably the same as the entire taxable income (but not alternative minimum taxable income), which the taxpayer is required to report to the United States Treasury Department." ENI is subject to several adjustments, including that in section 208.9(a)(1), which states, "Entire net income
shall not include: (1) income, gains and losses from subsidiary capital." Section 208.9(a)(1) thus requires that capital gains realized on the sale of a subsidiary be subtracted in computing entire net income
and capital losses added back to income.
Thus, while the entire net income
of a corporation generated by interstate as well as intrastate activities may be fairly apportioned among the States for tax purposes by formulas utilizing in-state aspects of interstate affairs, Northwestern States Portland Cement Co.