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VZ » Topics » Other Tax Matters

These excerpts taken from the VZ 10-K filed Feb 28, 2008.

Other Tax Matters

 

During 2005, we recorded tax benefits of $336 million in connection with the utilization of prior year loss carry forwards. As a result of the capital gain realized in 2005 in connection with the sale of our Hawaii businesses, we recorded a tax benefit of $242 million related to the capital losses incurred in previous years.

 

Also during 2005, we recorded a net tax provision of $206 million related to the repatriation of foreign earnings under the provisions of the American Jobs Creation Act of 2004, for two of our foreign investments.

 

Other Tax Matters


 

During 2005, we recorded tax benefits of $336 million in connection with
the utilization of prior year loss carry forwards. As a result of the capital gain realized in 2005 in connection with the sale of our Hawaii businesses, we recorded a tax benefit of $242 million related to the capital losses incurred in previous
years.

 

Also during 2005, we recorded a net tax provision of
$206 million related to the repatriation of foreign earnings under the provisions of the American Jobs Creation Act of 2004, for two of our foreign investments.

 


EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 28, 2008

RELATED TOPICS for VZ:

"Other Tax Matters" elsewhere:

Fairpoint Communications (FRP)
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