Operating pre-tax profit in the wealth management business was the highest in the bank's history, said Mr Gorman.
This is the measure of output (taken as operating profit after tax and some other adjustments) less input (taken as the annual rental charge on the total capital employed, both debt and equity).
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We do not anticipate that such repatriation, in the short-term, would result in actual cash payments in the U.S., as the taxable event would likely be offset by the utilization of our net operating losses and tax credits.
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Land will often be provided by state governments at concessionary rates, and both developers and operating units can receive tax breaks for up to 15 years, provided they are export-oriented.
In their report, the MPs expressed concern that recent changes to tax rules affecting UK-owned companies operating exclusively abroad could make it easier for them to use tax havens and reduce their tax liability in developing countries.
From April, Tokyo's city government plans to levy a 2-3% tax on the operating profits of big banks based in the capital.
Competing only on the ability to offer a discount equivalent to sales tax is effectively operating an offshore account, at the expense of your consumers.
Total occupancy cost is the sum of base rent, property tax and other operating expenses that prospective tenants would have to pay annually per square foot.
At a time when politicians are, rhetorically at least, dialing up their criticism of tax expenditures, operating vouchers as refundable credits would create a massive new one.
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The CBI said in its most recent bi-annual survey (in July) of 188 London-based firms, that housing was the fourth "key weakness" after overall operating costs, transport and tax environment.
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China's largest offshore oil-and-gas producer Cnooc added 3.6% after its 2012 net profit fell 9.3% on-year to 63.69 billion yuan, due to rising operating costs and higher resource tax expenses.
The U.S. government generally gives companies operating in foreign countries a tax credit to offset the foreign taxes paid, so the companies are not taxed twice on the same foreign income.
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Obama would limit deductions for expansion overseas while Romney would impose a territorial system of tax, meaning that the U.S. would not impose a tax on companies operating outside of its borders.
Last year the convention center jettisoned about a dozen supervisors and placing 23 of its 44 full-time events workers on a call-in-as-needed status, all part of an effort to slash operating costs and free up tax revenue that the city of Minneapolis might use elsewhere.
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One of the balance sheet assets they accrue during this period are their tax-deductable Net Operating Losses (NOLs).
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Its 31% increase in net income in the fourth quarter resulted primarily from higher operating profit, a pre-tax gain for the sale of its 18% ownership in the Game Show Network, and a lower effective tax rate.
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Sony said operating profit -- earnings before tax, depreciation and other adjustments -- would probably remain static this year at Y230bn, even as its sales increase by an expected 10 per cent thanks in part to more advantageous exchange rates.
The fiscal year 2010 benefit is primarily a result of tax benefits related to net operating loss carrybacks pursuant to the Business Assistance Act of 2009.
They also believe they can make a stronger case for new collection authority now that the SSUTA, which is designed to harmonize and simplify sales tax laws, is finally operating.
These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income tax expense, non-GAAP net income, non-GAAP net income, or earnings, per share, and free cash flow.
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From that, subtract operating costs--insurance, property tax and maintenance.
Every worker below a certain age should be free to choose to save and invest the employer and employee share of the Medicare payroll tax in a personal account operating under the same framework as has been proposed for Social Security reform.
Excluding share-based compensation and related payroll tax expenses, non-GAAP operating margin was 46% for the fourth quarter, compared to 55% for the fourth quarter of 2011.
The new tax has created confusion for many businesses operating in China, legal experts say.
According to Sanchez, the Kennedy Center receives tens of millions in operating funds every year, paid for by public tax dollars.
But generators of solar, wind, geothermal and biomass energy must have their plants operating by the end of 2007 to get their tax rewards.
It is important to realize federal illegality is going to put a huge crimp in the ability of these businesses to function legally, since it is likely that their operating expenses will not be deductible for federal income tax purposes.
Of course, companies operating at full capacity would be happy to take the tax cut.
As employment tax rates have climbed, this advantage of operating as an S corporation has become magnified.
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