|
|
 | | | |
- close
- close
- close
- close
These excerpts taken from the ROST 10-Q filed Jun 10, 2009. Note F: Taxes on Earnings As of May 2, 2009 and May 3, 2008, the reserves for unrecognized tax benefits (net of federal tax benefits) were $26.5 million and $23.4 million inclusive of $6.9 million and $6.2 million of related interest, respectively. The Company accounts for interest and penalties related to unrecognized tax benefits as a part of its provision for taxes on earnings. If recognized, $19.7 million would impact the Company’s effective tax rate. The difference between the total amount of unrecognized tax benefits and the amounts that would impact the effective tax rate relates to amounts attributable to deferred income tax assets and liabilities. These amounts are net of federal and state income taxes. During the next twelve months, it is reasonably possible that the statute of limitations may lapse pertaining to positions taken by the Company in prior year tax returns. If this occurs, the total amount of unrecognized tax benefits may decrease, reducing the provision for taxes on earnings by up to $1.4 million, net of federal tax benefits. The Company is generally open to audit by the Internal Revenue Service under the statute of limitations for fiscal years 2005 through 2008. The Company’s state income tax returns are generally open to audit under the various statutes of limitations for fiscal years 2004 through 2008. Certain state tax returns are currently under audit by state tax authorities. The Company does not expect the results of these audits to have a material impact on the consolidated financial statements. Taxes on earnings.
Our effective tax rate for the three
month periods ended May 2, 2009 and May 3, 2008 was approximately 39% and 38%, respectively, which represents the
applicable combined federal and state statutory rates reduced by the federal
benefit of state taxes deductible on federal returns. The effective rate is
affected by changes in law, location of new stores, level of earnings and the
result of tax positions with various taxing authorities. We anticipate that our
effective tax rate for fiscal 2009 will be in the range of 38% to
40%.
15 These excerpts taken from the ROST 10-K filed Mar 31, 2009. Taxes on earnings.
Our effective tax rate for fiscal 2008,
2007, and 2006 was approximately 38%, 39%, and 39%, respectively, which
represents the applicable combined federal and state statutory rates reduced by
the federal benefit of state taxes deductible on federal returns. The effective
rate is affected by changes in law, location of new stores, level of earnings,
and the resolution of tax positions with various taxing authorities. We
anticipate that our effective tax rate for fiscal 2009 will be in the range of
38% to 40%.
Taxes on earnings. Our effective tax rate for fiscal 2008, 2007, and 2006 was approximately 38%, 39%, and 39%, respectively, which represents the applicable combined federal and state statutory rates reduced by the federal benefit of state taxes deductible on federal returns. The effective rate is affected by changes in law, location of new stores, level of earnings, and the resolution of tax positions with various taxing authorities. We anticipate that our effective tax rate for fiscal 2009 will be in the range of 38% to 40%. Taxes on earnings.
The Company accounts for income taxes in
accordance with SFAS No. 109, “Accounting for Income Taxes,” which requires the
recognition of deferred tax assets and liabilities for the expected future tax
consequences of events that have been recognized in the Company's consolidated
financial statements or tax returns. In estimating future tax consequences, the
Company generally considers all expected future events other than changes in the
tax law or tax rates.
The Company adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes” (FIN 48), which supplements SFAS No. 109 “Accounting for Income Taxes” (SFAS No. 109) effective February 4, 2007. FIN 48 clarifies the criteria that an individual tax position must satisfy for some or all of the benefits of that position to be recognized in a company’s consolidated financial statements. FIN 48 prescribes a recognition threshold of more-likely-than-not, and a measurement standard for all tax positions taken or expected to be taken on a tax return, in order for those tax positions to be recognized in the consolidated financial statements. Taxes on earnings. The Company accounts for income taxes in accordance with SFAS No. 109, “Accounting for Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company's consolidated financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than changes in the tax law or tax rates. The Company adopted FASB This excerpt taken from the ROST 10-Q filed Dec 10, 2008. Taxes on earnings.
Our effective tax rate for the three and
nine month periods ended November 1, 2008 and November 3, 2007
was approximately 39% which represents the applicable combined federal and
state statutory rates reduced by the federal benefit of state taxes deductible
on federal returns. The effective rate is affected by changes in law, location
of new stores, level of earnings and the result of tax audits. We anticipate
that our effective tax rate for fiscal 2008 will be approximately 38% to
39%.
15 This excerpt taken from the ROST 10-Q filed Sep 10, 2008. Taxes on earnings.
Our effective tax rate for the three and six-month
periods ended August 2, 2008 and August 4, 2007 was approximately 39% which represents the applicable combined federal and
state statutory rates reduced by the federal benefit of state taxes deductible
on federal returns. The effective rate is affected by changes in law, location
of new stores, level of earnings and the result of tax audits. We anticipate
that our effective tax rate for fiscal 2008 will be approximately 38% to
39%.
This excerpt taken from the ROST 10-Q filed Jun 11, 2008. Taxes on earnings.
Our effective tax rates for the three-month periods
ended May 3, 2008 and May 5, 2007 were approximately 38%
and 39%, respectively. These rates represent the applicable combined federal
and state statutory rates reduced by the federal benefit of state taxes
deductible on federal returns. The effective rate is affected by changes in law,
location of new stores, level of earnings and the result of tax audits. We
anticipate that our effective tax rate for fiscal 2008 will be approximately 38%
to 39%.
These excerpts taken from the ROST 10-K filed Apr 1, 2008. Taxes on earnings.
SFAS No. 109, “Accounting for Income
Taxes,” requires income taxes to be accounted for under an asset and liability
approach that requires the recognition of deferred tax assets and liabilities
for the expected future tax consequences of events that have been recognized in
the Company's consolidated financial statements or tax returns. In estimating
future tax consequences, the Company generally considers all expected future
events other than changes in the tax law or tax rates.
The Company adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes” (FIN 48), which supplements SFAS No. 109 “Accounting for Income Taxes” (SFAS No. 109) effective February 4, 2007. FIN 48 clarifies the criteria that an individual tax position must satisfy for some or all of the benefits of that position to be recognized in a company’s consolidated financial statements. FIN 48 prescribes a recognition threshold of more-likely-than-not, and a measurement standard for all tax positions taken or expected to be taken on a tax return, in order for those tax positions to be recognized in the consolidated financial statements. Taxes on earnings. SFAS No. 109, “Accounting for Income Taxes,” requires income taxes to be accounted for under an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company's consolidated financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than changes in the tax law or tax rates. The Company adopted FASB This excerpt taken from the ROST 10-Q filed Dec 12, 2007. Taxes on earnings.
Our effective tax rate for the
three-month period ended November 3, 2007 and October 28, 2006
was approximately 38% and
39%, respectively. For the nine-month
period ended November 3, 2007 and October 28, 2006, the effective tax rate was
39%. These rates represent the applicable combined federal and state statutory
rates reduced by the federal benefit of state taxes deductible on federal
returns. The effective rate is affected by changes in law, location of new
stores, level of earnings and the result of tax audits. We anticipate that our
effective tax rate for fiscal 2007 will be approximately 38% to 39%.
This excerpt taken from the ROST 10-Q filed Sep 12, 2007. Taxes on earnings. Our effective tax rate for the three and six-month periods ended August 4, 2007 and July 29, 2006 was approximately 39%, which represents the applicable combined federal and state statutory rates reduced by the federal benefit of state taxes deductible on federal returns. The effective rate is affected by changes in law, location of new stores, level of earnings and the result of tax audits. We anticipate that our effective tax rate for fiscal 2007 will be approximately 38% to 40%.
This excerpt taken from the ROST 10-Q filed Jun 13, 2007. Taxes on earnings. Our effective tax rate for the three-month periods ended May 5, 2007 and April 29, 2006 was approximately 39%, which represents the applicable combined federal and state statutory rates reduced by the federal benefit of state taxes deductible on federal returns. The effective rate is affected by changes in law, location of new stores, level of earnings and the result of tax audits. We anticipate that our effective tax rate for fiscal 2007 will be approximately 38% to 40%.
This excerpt taken from the ROST 10-K filed Apr 3, 2007. Taxes on earnings. SFAS No. 109, “Accounting for Income Taxes,” requires income taxes to be accounted for under an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company's consolidated financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than changes in the tax law or tax rates.
| EXCERPTS ON THIS PAGE:
|
| |||||||
