Olympus made the errors in some tables so that the numbers didn't match with figures elsewhere in the report, while the totals for debt, earned surplus
and net assets were correct, Olympus said in a statement.
Under this very broad definition, most state assessments, including some franchise taxes based on earned surplus
or income taxes, qualify as income tax payments.
Net taxable earned surplus
was defined in the state statute by reference to the corporation's federal taxable income.
Deficits in earned surplus
could be eliminated or mitigated by procedures to reduce capital surplus.
The bank said it will also seek the approval of shareholders to tap all of its 90 million yen earned surplus
reserve to write off the same amount of losses from its operations.
A ruling party panel working on measures to bolster the sagging stock market plans to seek a legal amendment to allow companies to buy back shares up to an amount equivalent to their earned surplus
, a senior panel official said Thursday.
This article discusses the following issues relating to throwback sales: (1) Massachusetts's "home office" rule; (2) Michigan's jurisdictional test for single business tax purposes; (3) differing throwback rules for the taxable capital and earned surplus
components of Texas franchise tax; and (4) application of throwback to combined returns.
Goodwill would be charged as the excess of cost over other assets and then written off to earned surplus
Of course, dividends will be paid only out of our unreserved and unrestricted earned surplus
, but given our current and expected growth rate, we believe we can continue to grow the company as well as reward our shareholders with a very competitive dividend.
Surplus appropriation statements, which provide limited information such as balance sheet changes in unappropriated earned surplus
, will therefore be replaced with statements of changes in equity.
The huge loss wiped out Fujitsu's earned surplus
and put the account into a deficit of 80.
NYSE:HIT)(TOKYO:6501) today announced that its Board of Directors has decided to submit a proposal for reduction of the capital reserve and the earned surplus
reserve to its Ordinary General Meeting of Shareholders to be held on June 23, 2009.