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Provision for Income Taxes

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Provision for income taxes
An amount on the P & I statement that estimates a company's total income tax liability for the year.
Provision for Income Taxes
In a financial statement or personal budget, an estimate for one's total income tax liability for a given year. This is especially important when the government or an employer does not automatically deduct estimated tax payments from paychecks or other revenue. Generally speaking, one must set the provision for income taxes aside and pay it quarterly or annually.
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NASDAQ:SMIT) completed the fiscal second quarter ended November 30, 2006 with income before provision for income taxes of $374,185, compared to income before provision for income taxes of $212,588 for the fiscal quarter ended November 30, 2005.
Schmitt Industries Announces Increased Second Quarter Operating Income by Business Wire
Excluding integration and other related expenses in both periods and a non-operating gain resulting primarily from the sale of a retained interest in a previously disposed subsidiary and a favorable adjustment to the provision for income taxes in the fourth quarter of 2005, adjusted pro forma diluted earnings per share for the fourth quarter and full year were $0.
Caremark Rx, Inc. Announces Record Fourth Quarter and Full Year ... by Business Wire
For the three months ended December 31, 2005 and 2004, respectively, EBITDA has been calculated by adding depreciation and amortization ($266,000 and $271,000), interest expense ($60,000 and $58,000) and provision for income taxes ($773,000 and $465,000) to net income ($1,483,000 and $872,000).
NAPCO Security Systems, Inc. Reports Record-Breaking Second Quarter ... by Business Wire
 
 
 
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