BITS » Topics » (Benefit From), Provision for Income Taxes:

This excerpt taken from the BITS 10-Q filed Nov 14, 2007.

(Benefit From), Provision for Income Taxes:

 

     Three Months Ended September 30,  
    

2007

  

% of
Revenue

   

2006

   

% of
Revenue

    Change  
              Dollars     Percent  

(Benefit from) provision for income tax provision

   $ 11    0.2 %   $ (9 )   (0.2 )%   $ 20     222.2 %
                                         
     Nine Months Ended September 30,  
     2007    % of
Revenue
   

2006

    % of
Revenue
    Change  
              Dollars     Percent  

Provision for income tax provision

   $ 21    0.1 %   $ 27     0.4 %   $ (6 )   (22.2 )%
                                         

Our tax provision for the three and nine months ended September 30, 2007 consisted of $11 and $21 of foreign withholding taxes respectively. The Company did not have a provision for U.S. Federal tax during these periods due to Net Operating Loss and Tax Credit carry forwards. The tax provision for the three and nine month periods ended September 30, 2006 included an $(11) benefit in U.S. Federal income tax due to a refund of alternative minimum tax and $23 expense for U.S. Federal alternative minimum tax and $2 and $4, respectively, of foreign withholding taxes. Foreign taxes vary with OEM license royalties from customers in countries who are party to tax conventions with the United States, including Korea and Poland.

 

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This excerpt taken from the BITS 10-Q filed Aug 14, 2007.

(Benefit From), Provision for Income Taxes:

 

     Three Months Ended June 30,  
    

2007

   

% of

Revenue

   

2006

  

% of

Revenue

    Change  
            Dollars     Percent  

(Benefit from) provision for income tax provision

   $ (1 )   0.0 %   $ 25    0.5 %   $ (26 )   (104 )%
                                         
     Six Months Ended June 30,  
    

2007

   

% of

Revenue

   

2006

  

% of

Revenue

    Change  
            Dollars     Percent  

(Benefit from) provision for income tax provision

   $ 10     0.1 %   $ 36    0.4 %   $ (26 )   (72.2 )%
                                         

Our tax provision for the three and six months ended June 30, 2007 consisted of $(1) and $10 of foreign withholding taxes respectively. The Company did not have a provision for U.S. Federal tax during these periods due to Net Operating Loss and Tax Credit carry forwards. The tax provision for the three and six month periods ended June 30, 2006 included $25 and $34, respectively, in U.S. Federal alternative minimum tax and $0 and $2, respectively, of foreign withholding taxes. Foreign taxes vary with OEM license royalties from customers in countries who are party to tax conventions with the United States, including Korea and Poland.

 

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EXCERPTS ON THIS PAGE:

10-Q
Nov 14, 2007
10-Q
Aug 14, 2007
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