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This excerpt taken from the CSGP 10-K filed Feb 28, 2007. Income
Taxes
The Company provides for income taxes under the provisions of
Statement of Financial Accounting Standards No. 109
(“SFAS No. 109”). Deferred income taxes
result from temporary differences between the tax basis of
assets and liabilities and the basis reported in the
Company’s consolidated financial statements. Deferred tax
liabilities and assets are determined based on the difference
between financial statement and tax basis of assets and
liabilities using enacted rates expected to be in effect during
the year in which the differences reverse. Valuation allowances
are provided against assets, including net operating losses, if
it is anticipated that some or all of the asset may not be
realized through future taxable earnings or implementation of
tax planning strategies.
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