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This excerpt taken from the VNO 8-K filed Oct 13, 2009. Income Taxes
We operate in a manner intended to enable us to continue to qualify as a Real Estate Investment Trust (“REIT”) under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to its shareholders. We distribute to our shareholders 100% of our taxable income. Therefore, no provision for Federal income taxes is required. If we fail to distribute the required amount of income to our shareholders, or fail to meet other REIT requirements, we may fail to qualify as a REIT which may result in substantial adverse tax consequences.
This excerpt taken from the VNO 10-K filed Feb 24, 2009. Income Taxes
We operate in a manner intended to enable us to continue to qualify as a Real Estate Investment Trust (“REIT”) under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to its shareholders. We distribute to our shareholders 100% of our taxable income. Therefore, no provision for Federal income taxes is required. If we fail to distribute the required amount of income to our shareholders, or fail to meet other REIT requirements, we may fail to qualify as a REIT which may result in substantial adverse tax consequences.
This excerpt taken from the VNO 10-K filed Feb 26, 2008. Income Taxes
We operate in a manner intended to enable us to continue to qualify as a Real Estate Investment Trust (“REIT”) under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to its shareholders. We distribute to our shareholders 100% of our taxable income. Therefore, no provision for Federal income taxes is required. If we fail to distribute the required amount of income to our shareholders, or fail to meet other REIT requirements, we may fail to qualify as a REIT and substantial adverse tax consequences may result.
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This excerpt taken from the VNO 10-K filed Feb 27, 2007. Income Taxes
We operate in a manner intended to enable us to continue to qualify as a Real Estate Investment Trust (“REIT”) under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to its shareholders. We distribute to our shareholders 100% of our taxable income. Therefore, no provision for Federal income taxes is required. If we fail to distribute the required amount of income to our shareholders, or fail to meet other REIT requirements, we may fail to qualify as a REIT and substantial adverse tax consequences may result.
78
This excerpt taken from the VNO 8-K filed Oct 27, 2006. Income Taxes The Company operates in a manner intended to enable it to continue to qualify as a Real Estate Investment Trust (“REIT”) under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to its shareholders. The Company intends to distribute to its shareholders 100% of its taxable income. Therefore, no provision for Federal income taxes is required. If the Company fails to distribute the required amount of income to its shareholders, or fails to meet other REIT requirements, it may fail to qualify as a REIT and substantial adverse tax consequences may result. -24- This excerpt taken from the VNO 8-K filed Apr 19, 2006. (c) income taxes, (d) non-recurring items as
determined in good faith by the Operating Partnership< This excerpt taken from the VNO 10-K filed Feb 28, 2006. Income Taxes
The Company operates in a manner intended to enable it to continue to qualify as a Real Estate Investment Trust (“REIT”) under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to its shareholders. The Company intends to distribute to its shareholders 100% of its taxable income. Therefore, no provision for Federal income taxes is required. If the Company fails to distribute the required amount of income to its shareholders, or fails to meet other REIT requirements, it may fail to qualify as a REIT and substantial adverse tax consequences may result.
72
This excerpt taken from the VNO 8-K filed Aug 19, 2005. Income
Taxes: The Company operates in a manner intended to enable it
to continue to qualify as a REIT under Sections 856-860 of the Internal Revenue
Code of 1986, as amended. Under those sections, a REIT which distributes at
least 90% of its REIT taxable income as a dividend to its shareholders each
year and which meets certain other conditions will not be taxed on that portion
of its taxable income which is distributed to its shareholders. The Company will distribute to its shareholders
100% of its taxable income and therefore, no provision for Federal income taxes
is required. Dividend distributions for the year ended December 31, 2004 were
characterized for Federal income tax purposes as 94.8% ordinary income and 5.2%
long-term capital gain income. Dividend
distributions for the year ended December 31, 2003, were characterized for
Federal income tax purposes as 94.5% ordinary income and 5.5% long-term capital
gain income. Dividend distributions for
the year ended December 31, 2002 were characterized as ordinary income.
The Company owns stock in corporations that have elected to be treated for Federal income tax purposes, as taxable REIT subsidiaries (“TRS”). The value of the combined TRS stock cannot and does not exceed 20% of the value of the Company’s total assets. A TRS is taxable on its net income at regular corporate tax rates. The total income tax paid for the 2004, 2003 and 2002 tax years was $1,867,000, $2,048,000 and $1,430,000.
The following table reconciles net income to estimated taxable income for the year ended December 31, 2004.
The net basis of the Company’s assets and liabilities for tax purposes is approximately $3,189,273,000 lower than the amount reported for financial statement purposes.
72
VORNADO REALTY TRUST NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)
2. Summary of Significant Accounting Policies - continued
This excerpt taken from the VNO 10-K filed Jun 10, 2005. Income Taxes:
The Company operates in a manner intended to enable it to continue to qualify
as a REIT under Sections 856-860 of the Internal Revenue Code of 1986, as
amended. Under those sections, a REIT which distributes at least 90% of its
REIT taxable income as a dividend to its shareholders each year and which meets
certain other conditions will not be taxed on that portion of its taxable
income which is distributed to its shareholders. The Company will distribute to its
shareholders 100% of its taxable income and therefore, no provision for Federal
income taxes is required. Dividend distributions for the year ended December
31, 2004 were characterized for Federal income tax purposes as 94.8% ordinary
income and 5.2% long-term capital gain income.
Dividend distributions for the year ended December 31, 2003, were
characterized for Federal income tax purposes as 94.5% ordinary income and 5.5%
long-term capital gain income. Dividend
distributions for the year ended December 31, 2002 were characterized as
ordinary income.
The Company owns stock in corporations that have elected to be treated for Federal income tax purposes, as taxable REIT subsidiaries (“TRS”). The value of the combined TRS stock cannot and does not exceed 20% of the value of the Company’s total assets. A TRS is taxable on its net income at regular corporate tax rates. The total income tax paid for the 2004, 2003 and 2002 tax years was $1,867,000, $2,048,000 and $1,430,000.
The following table reconciles net income to estimated taxable income for the year ended December 31, 2004.
The net basis of the Company’s assets and liabilities for tax purposes is approximately $3,189,273,000 lower than the amount reported for financial statement purposes.
119
This excerpt taken from the VNO 10-K filed Feb 25, 2005. Income Taxes:
The Company operates in a manner intended to enable it to continue to qualify
as a REIT under Sections 856-860 of the Internal Revenue Code of 1986, as amended.
Under those sections, a REIT which distributes at least 90% of its REIT taxable
income as a dividend to its shareholders each year and which meets certain
other conditions will not be taxed on that portion of its taxable income which
is distributed to its shareholders. The
Company will distribute to its shareholders 100% of its taxable income and
therefore, no provision for Federal income taxes is required. Dividend
distributions for the year ended December 31, 2004 were characterized for
Federal income tax purposes as 94.8% ordinary income and 5.2% long-term capital
gain income. Dividend distributions for
the year ended December 31, 2003, were characterized for Federal income
tax purposes as 94.5% ordinary income and 5.5% long-term capital gain income. Dividend distributions for the year ended
December 31, 2002 were characterized as ordinary income.
The Company owns stock in corporations that have elected to be treated for Federal income tax purposes, as taxable REIT subsidiaries (“TRS”). The value of the combined TRS stock cannot and does not exceed 20% of the value of the Company’s total assets. A TRS is taxable on its net income at regular corporate tax rates. The total income tax paid for the 2004, 2003 and 2002 tax years was $1,867,000, $2,048,000 and $1,430,000.
The following table reconciles net income to estimated taxable income for the year ended December 31, 2004.
The net basis of the Company’s assets and liabilities for tax purposes is approximately $3,189,273,000 lower than the amount reported for financial statement purposes.
119
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