IBAS » Topics » Provision for income taxes.

This excerpt taken from the IBAS 10-Q filed Aug 9, 2007.
Provision for income taxes.   The provision for income taxes of $34,000 in 2007 represents foreign income taxes on the earnings of our foreign subsidiaries and interest accrued on the liability for uncertain tax positions we recognized upon adoption of FIN 48 as of January 1, 2007.  We did not have a U.S. federal or state tax provision in 2006, as we reversed approximately $0.7 million of our valuation allowance against our net deferred tax assets associated with significant net operating loss carry-forwards.

This excerpt taken from the IBAS 10-Q filed Jun 28, 2007.
Provision for income taxes.   The provision for income taxes of $14,000 in Q1 of 2007 represents foreign income taxes on the earnings of our foreign subsidiaries.  We did not record a benefit for income taxes relating to our net operating loss carry-forwards in Q1 of 2007 or Q1 of 2006 as it was more likely than not that this tax benefit would not be realized.

This excerpt taken from the IBAS 10-Q filed Jun 12, 2007.
Provision for income taxes.  The provision for income taxes of $33,000 in 2006 represents foreign income taxes on the earnings of our foreign subsidiaries. In 2006 we had taxable income but did not have a federal or state income tax provision as a result of reversing a portion of our valuation allowance against deferred tax assets associated with net operating loss carry-forwards. In 2005 we did not record a benefit for income taxes relating to our net operating loss carry-forwards, as it was more likely than not that this tax benefit would not be realized.

This excerpt taken from the IBAS 10-Q filed May 10, 2006.
Provision for income taxes.   The provision for income taxes of $11,000 in Q1 of 2006 represents foreign income taxes on the earnings of our foreign subsidiaries. We did not have a U.S. federal or state tax provision in Q1 of 2006, or Q1 of 2005, as we reversed a portion of our valuation allowance against our net deferred tax assets associated with significant prior period net operating loss carry-forwards. For Q1 of 2006, the portion of our valuation allowance reversed was approximately $0.6 million which relates to the expected tax benefit to be realized.

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