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These excerpts taken from the ME 10-K filed Mar 6, 2009. Income
Taxes
Our provision for taxes includes both state and federal taxes.
The Company records its federal income taxes in accordance with
SFAS No. 109, “Accounting for Income Taxes”
(“SFAS 109”) which results in the recognition of
deferred tax assets and liabilities for the expected future tax
consequences of temporary differences between the book carrying
amounts and the tax basis of assets and liabilities. Deferred
tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those
temporary differences and carry forwards are expected to be
recovered or settled. The effect on deferred tax assets and
liabilities of a change in tax rates is recognized in income in
the period that includes the enactment date. Valuation
allowances are established when necessary to reduce deferred tax
assets to the amount more likely than not to be recovered.
Effective January 1, 2007, we adopted FASB Interpretation
No. 48, “Accounting for Uncertainty in Income Taxes
(an interpretation of FASB Statement No. 109)”
(“FIN 48”). This interpretation clarified the
accounting for uncertainty in income taxes recognized in the
financial statements by prescribing a recognition threshold and
measurement attribute for a tax position taken or expected to be
taken in a tax return. We apply significant judgment in
evaluating our tax positions and estimating our provision for
income taxes. During the ordinary course of business, there are
many transactions and calculations for which the ultimate tax
determination is uncertain. The actual outcome of these future
tax consequences could differ significantly from these
estimates, which could impact our financial position, results of
operations and cash flows. We do not have uncertain tax
positions outstanding and, as such, did not recorded a
FIN 48 liability for the years ended December 31, 2008
and 2007.
Additionally, in May 2006, the State of Texas enacted
substantial changes to its tax structure beginning in 2007 by
implementing a new margin tax of 1% to be imposed on revenues
less certain costs, as specified in the legislation.
Income
Taxes
Our provision for taxes includes both state and federal taxes.
The Company records its federal income taxes in accordance with
SFAS No. 109, “Accounting for Income Taxes”
(“SFAS 109”) which results in the recognition of
deferred tax assets and liabilities for the expected future tax
consequences of temporary differences between the book carrying
amounts and the tax basis of assets and liabilities. Deferred
tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those
temporary differences and carry forwards are expected to be
recovered or settled. The effect on deferred tax assets and
liabilities of a change in tax rates is recognized in income in
the period that includes the enactment date. Valuation
allowances are established when necessary to reduce deferred tax
assets to the amount more likely than not to be recovered.
Effective January 1, 2007, we adopted FASB Interpretation
No. 48, “Accounting for Uncertainty in Income Taxes
(an interpretation of FASB Statement No. 109)”
(“FIN 48”). This interpretation clarified the
accounting for uncertainty in income taxes recognized in the
financial statements by prescribing a recognition threshold and
measurement attribute for a tax position taken or expected to be
taken in a tax return. We apply significant judgment in
evaluating our tax positions and estimating our provision for
income taxes. During the ordinary course of business, there are
many transactions and calculations for which the ultimate tax
determination is uncertain. The actual outcome of these future
tax consequences could differ significantly from these
estimates, which could impact our financial position, results of
operations and cash flows. We do not have uncertain tax
positions outstanding and, as such, did not recorded a
FIN 48 liability for the years ended December 31, 2008
and 2007.
Additionally, in May 2006, the State of Texas enacted
substantial changes to its tax structure beginning in 2007 by
implementing a new margin tax of 1% to be imposed on revenues
less certain costs, as specified in the legislation.
Income
Taxes
Our provision for taxes includes both state and federal taxes.
The Company records its federal income taxes in accordance with
SFAS No. 109, “Accounting for Income Taxes”
(“SFAS 109”) which results in the recognition of
deferred tax assets and liabilities for the expected future tax
consequences of temporary differences between the book carrying
amounts and the tax basis of assets and liabilities. Deferred
tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those
temporary differences and carry forwards are expected to be
recovered or settled. The effect on deferred tax assets and
liabilities of a change in tax rates is recognized in income in
the period that includes the enactment date. Valuation
allowances are established when necessary to reduce deferred tax
assets to the amount more likely than not to be recovered.
Effective January 1, 2007, we adopted FASB Interpretation
No. 48, “Accounting for Uncertainty in Income Taxes
(an interpretation of FASB Statement No. 109)”
(“FIN 48”). This interpretation clarified the
accounting for uncertainty in income taxes recognized in the
financial statements by prescribing a recognition threshold and
measurement attribute for a tax position taken or expected to be
taken in a tax return. We apply significant judgment in
evaluating our tax positions and estimating our provision for
income taxes. During the ordinary course of business, there are
many transactions and calculations for which the ultimate tax
determination is uncertain. The actual outcome of these future
tax consequences could differ significantly from these
estimates, which could impact our financial position, results of
operations and cash flows. We do not have uncertain tax
positions outstanding and, as such, did not recorded a
FIN 48 liability for the years ended December 31, 2008
and 2007.
Additionally, in May 2006, the State of Texas enacted
substantial changes to its tax structure beginning in 2007 by
implementing a new margin tax of 1% to be imposed on revenues
less certain costs, as specified in the legislation.
Income
Taxes
Our provision for taxes includes both state and federal taxes.
The Company records its federal income taxes in accordance with
SFAS No. 109, “Accounting for Income Taxes”
(“SFAS 109”) which results in the recognition of
deferred tax assets and liabilities for the expected future tax
consequences of temporary differences between the book carrying
amounts and the tax basis of assets and liabilities. Deferred
tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those
temporary differences and carry forwards are expected to be
recovered or settled. The effect on deferred tax assets and
liabilities of a change in tax rates is recognized in income in
the period that includes the enactment date. Valuation
allowances are established when necessary to reduce deferred tax
assets to the amount more likely than not to be recovered.
Effective January 1, 2007, we adopted FASB Interpretation
No. 48, “Accounting for Uncertainty in Income Taxes
(an interpretation of FASB Statement No. 109)”
(“FIN 48”). This interpretation clarified the
accounting for uncertainty in income taxes recognized in the
financial statements by prescribing a recognition threshold and
measurement attribute for a tax position taken or expected to be
taken in a tax return. We apply significant judgment in
evaluating our tax positions and estimating our provision for
income taxes. During the ordinary course of business, there are
many transactions and calculations for which the ultimate tax
determination is uncertain. The actual outcome of these future
tax consequences could differ significantly from these
estimates, which could impact our financial position, results of
operations and cash flows. We do not have uncertain tax
positions outstanding and, as such, did not recorded a
FIN 48 liability for the years ended December 31, 2008
and 2007.
Additionally, in May 2006, the State of Texas enacted
substantial changes to its tax structure beginning in 2007 by
implementing a new margin tax of 1% to be imposed on revenues
less certain costs, as specified in the legislation.
Income Taxes Our provision for taxes includes both state and federal taxes. The Company records its federal income taxes in accordance with SFAS No. 109, “Accounting for Income Taxes” (“SFAS 109”) which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount more likely than not to be recovered. Effective January 1, 2007, we adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes (an interpretation of FASB Statement No. 109)” (“FIN 48”). This interpretation clarified the accounting for uncertainty in income taxes recognized in the financial statements by prescribing a recognition threshold and measurement attribute for a tax position taken or expected to be taken in a tax return. We apply significant judgment in evaluating our tax positions and estimating our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The actual outcome of these future tax consequences could differ significantly from these estimates, which could impact our financial position, results of operations and cash flows. We do not have uncertain tax positions outstanding and, as such, did not recorded a FIN 48 liability for the years ended December 31, 2008 and 2007. Additionally, in May 2006, the State of Texas enacted substantial changes to its tax structure beginning in 2007 by implementing a new margin tax of 1% to be imposed on revenues less certain costs, as specified in the legislation. Income Taxes Our provision for taxes includes both state and federal taxes. The Company records its federal income taxes in accordance with SFAS No. 109, “Accounting for Income Taxes” (“SFAS 109”) which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount more likely than not to be recovered. Effective January 1, 2007, we adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes (an interpretation of FASB Statement No. 109)” (“FIN 48”). This interpretation clarified the accounting for uncertainty in income taxes recognized in the financial statements by prescribing a recognition threshold and measurement attribute for a tax position taken or expected to be taken in a tax return. We apply significant judgment in evaluating our tax positions and estimating our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The actual outcome of these future tax consequences could differ significantly from these estimates, which could impact our financial position, results of operations and cash flows. We do not have uncertain tax positions outstanding and, as such, did not recorded a FIN 48 liability for the years ended December 31, 2008 and 2007. Additionally, in May 2006, the State of Texas enacted substantial changes to its tax structure beginning in 2007 by implementing a new margin tax of 1% to be imposed on revenues less certain costs, as specified in the legislation. Income Taxes Our provision for taxes includes both state and federal taxes. The Company records its federal income taxes in accordance with SFAS No. 109, “Accounting for Income Taxes” (“SFAS 109”) which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount more likely than not to be recovered. Effective January 1, 2007, we adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes (an interpretation of FASB Statement No. 109)” (“FIN 48”). This interpretation clarified the accounting for uncertainty in income taxes recognized in the financial statements by prescribing a recognition threshold and measurement attribute for a tax position taken or expected to be taken in a tax return. We apply significant judgment in evaluating our tax positions and estimating our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The actual outcome of these future tax consequences could differ significantly from these estimates, which could impact our financial position, results of operations and cash flows. We do not have uncertain tax positions outstanding and, as such, did not recorded a FIN 48 liability for the years ended December 31, 2008 and 2007. Additionally, in May 2006, the State of Texas enacted substantial changes to its tax structure beginning in 2007 by implementing a new margin tax of 1% to be imposed on revenues less certain costs, as specified in the legislation. Income Taxes Our provision for taxes includes both state and federal taxes. The Company records its federal income taxes in accordance with SFAS No. 109, “Accounting for Income Taxes” (“SFAS 109”) which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount more likely than not to be recovered. Effective January 1, 2007, we adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes (an interpretation of FASB Statement No. 109)” (“FIN 48”). This interpretation clarified the accounting for uncertainty in income taxes recognized in the financial statements by prescribing a recognition threshold and measurement attribute for a tax position taken or expected to be taken in a tax return. We apply significant judgment in evaluating our tax positions and estimating our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The actual outcome of these future tax consequences could differ significantly from these estimates, which could impact our financial position, results of operations and cash flows. We do not have uncertain tax positions outstanding and, as such, did not recorded a FIN 48 liability for the years ended December 31, 2008 and 2007. Additionally, in May 2006, the State of Texas enacted substantial changes to its tax structure beginning in 2007 by implementing a new margin tax of 1% to be imposed on revenues less certain costs, as specified in the legislation. These excerpts taken from the ME 10-K filed Mar 2, 2009. Income
Taxes
Our provision for taxes includes both state and federal taxes.
The Company records its federal income taxes in accordance with
SFAS No. 109, “Accounting for Income Taxes”
(“SFAS 109”) which results in the recognition of
deferred tax assets and liabilities for the expected future tax
consequences of temporary differences between the book carrying
amounts and the tax basis of assets and liabilities. Deferred
tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those
temporary differences and carry forwards are expected to be
recovered or settled. The effect on deferred tax assets and
liabilities of a change in tax rates is recognized in income in
the period that includes the enactment date. Valuation
allowances are established when necessary to reduce deferred tax
assets to the amount more likely than not to be recovered.
Effective January 1, 2007, we adopted FASB Interpretation
No. 48, “Accounting for Uncertainty in Income Taxes
(an interpretation of FASB Statement No. 109)”
(“FIN 48”). This interpretation clarified the
accounting for uncertainty in income taxes recognized in the
financial statements by prescribing a recognition threshold and
measurement attribute for a tax position taken or expected to be
taken in a tax return. We apply significant judgment in
evaluating our tax positions and estimating our provision for
income taxes. During the ordinary course of business, there are
many transactions and calculations for which the ultimate tax
determination is uncertain. The actual outcome of these future
tax consequences could differ significantly from these
estimates, which could impact our financial position, results of
operations and cash flows. We do not have uncertain tax
positions outstanding and, as such, did not recorded a
FIN 48 liability for the years ended December 31, 2008
and 2007.
Additionally, in May 2006, the State of Texas enacted
substantial changes to its tax structure beginning in 2007 by
implementing a new margin tax of 1% to be imposed on revenues
less certain costs, as specified in the legislation.
Income Taxes Our provision for taxes includes both state and federal taxes. The Company records its federal income taxes in accordance with SFAS No. 109, “Accounting for Income Taxes” (“SFAS 109”) which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount more likely than not to be recovered. Effective January 1, 2007, we adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes (an interpretation of FASB Statement No. 109)” (“FIN 48”). This interpretation clarified the accounting for uncertainty in income taxes recognized in the financial statements by prescribing a recognition threshold and measurement attribute for a tax position taken or expected to be taken in a tax return. We apply significant judgment in evaluating our tax positions and estimating our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The actual outcome of these future tax consequences could differ significantly from these estimates, which could impact our financial position, results of operations and cash flows. We do not have uncertain tax positions outstanding and, as such, did not recorded a FIN 48 liability for the years ended December 31, 2008 and 2007. Additionally, in May 2006, the State of Texas enacted substantial changes to its tax structure beginning in 2007 by implementing a new margin tax of 1% to be imposed on revenues less certain costs, as specified in the legislation. Income Taxes Our provision for taxes includes both state and federal taxes. The Company records its federal income taxes in accordance with SFAS No. 109, “Accounting for Income Taxes” (“SFAS 109”) which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount more likely than not to be recovered. Effective January 1, 2007, we adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes (an interpretation of FASB Statement No. 109)” (“FIN 48”). This interpretation clarified the accounting for uncertainty in income taxes recognized in the financial statements by prescribing a recognition threshold and measurement attribute for a tax position taken or expected to be taken in a tax return. We apply significant judgment in evaluating our tax positions and estimating our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The actual outcome of these future tax consequences could differ significantly from these estimates, which could impact our financial position, results of operations and cash flows. We do not have uncertain tax positions outstanding and, as such, did not recorded a FIN 48 liability for the years ended December 31, 2008 and 2007. Additionally, in May 2006, the State of Texas enacted substantial changes to its tax structure beginning in 2007 by implementing a new margin tax of 1% to be imposed on revenues less certain costs, as specified in the legislation. Income Taxes Our provision for taxes includes both state and federal taxes. The Company records its federal income taxes in accordance with SFAS No. 109, “Accounting for Income Taxes” (“SFAS 109”) which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount more likely than not to be recovered. Effective January 1, 2007, we adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes (an interpretation of FASB Statement No. 109)” (“FIN 48”). This interpretation clarified the accounting for uncertainty in income taxes recognized in the financial statements by prescribing a recognition threshold and measurement attribute for a tax position taken or expected to be taken in a tax return. We apply significant judgment in evaluating our tax positions and estimating our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The actual outcome of these future tax consequences could differ significantly from these estimates, which could impact our financial position, results of operations and cash flows. We do not have uncertain tax positions outstanding and, as such, did not recorded a FIN 48 liability for the years ended December 31, 2008 and 2007. Additionally, in May 2006, the State of Texas enacted substantial changes to its tax structure beginning in 2007 by implementing a new margin tax of 1% to be imposed on revenues less certain costs, as specified in the legislation. Income Taxes Our provision for taxes includes both state and federal taxes. The Company records its federal income taxes in accordance with SFAS No. 109, “Accounting for Income Taxes” (“SFAS 109”) which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount more likely than not to be recovered. Effective January 1, 2007, we adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes (an interpretation of FASB Statement No. 109)” (“FIN 48”). This interpretation clarified the accounting for uncertainty in income taxes recognized in the financial statements by prescribing a recognition threshold and measurement attribute for a tax position taken or expected to be taken in a tax return. We apply significant judgment in evaluating our tax positions and estimating our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The actual outcome of these future tax consequences could differ significantly from these estimates, which could impact our financial position, results of operations and cash flows. We do not have uncertain tax positions outstanding and, as such, did not recorded a FIN 48 liability for the years ended December 31, 2008 and 2007. Additionally, in May 2006, the State of Texas enacted substantial changes to its tax structure beginning in 2007 by implementing a new margin tax of 1% to be imposed on revenues less certain costs, as specified in the legislation. These excerpts taken from the ME 10-K filed Feb 29, 2008. Income
Taxes
Our provision for taxes includes both state and federal taxes.
Mariner records its federal income taxes using an asset and
liability approach, which results in the recognition of deferred
tax assets and liabilities for the expected future tax
consequences of temporary differences between the book carrying
amounts and the tax bases of assets and liabilities. Deferred
tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those
temporary differences and carry forwards are expected to be
recovered or settled. The effect on deferred tax assets and
liabilities of a change in tax rates is recognized in income in
the period that includes the enactment date. Valuation
allowances are established when necessary to reduce deferred tax
assets to the amount more likely than not to be recovered.
We apply significant judgment in evaluating our tax positions
and estimating our provision for income taxes. During the
ordinary course of business, there are many transactions and
calculations for which the ultimate tax determination is
uncertain. The actual outcome of these future tax consequences
could differ significantly from these estimates, which could
impact our financial position, results of operations and cash
flows.
Additionally, in May 2006, the State of Texas enacted
substantial changes to its tax structure beginning in 2007 by
implementing a new margin tax of 1% to be imposed on revenues
less certain costs, as specified in the legislation.
Income Taxes Our provision for taxes includes both state and federal taxes. Mariner records its federal income taxes using an asset and liability approach, which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount more likely than not to be recovered. We apply significant judgment in evaluating our tax positions and estimating our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The actual outcome of these future tax consequences could differ significantly from these estimates, which could impact our financial position, results of operations and cash flows. Additionally, in May 2006, the State of Texas enacted substantial changes to its tax structure beginning in 2007 by implementing a new margin tax of 1% to be imposed on revenues less certain costs, as specified in the legislation. This excerpt taken from the ME 10-K filed Apr 2, 2007. Income
Taxes
Our provision for taxes includes both state and federal taxes.
Mariner records its federal income taxes using an asset and
liability approach which results in the recognition of deferred
tax assets and liabilities for the expected future tax
consequences of temporary differences between the book carrying
amounts and the tax bases of assets and liabilities. Deferred
tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those
temporary differences and carryforwards are expected to be
recovered or settled. The effect on deferred tax assets and
liabilities of a change in tax rates is recognized in income in
the period that includes the enactment date. Valuation
allowances are established when necessary to reduce deferred tax
assets to the amount more likely than not to be recovered.
We apply significant judgment in evaluating our tax positions
and estimating our provision for income taxes. During the
ordinary course of business, there are many transactions and
calculations for which the ultimate tax determination is
uncertain. The actual outcome of these future tax consequences
could differ significantly from these estimates, which could
impact our financial position, results of operations and cash
flows.
Additionally, in May 2006, the State of Texas enacted
substantial changes to its tax structure beginning in 2007 by
implementing a new margin tax of 1% to be imposed on revenues
less certain costs, as specified in the legislation.
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