Maryland and Virginia average home prices are relatively high, but their effective tax rates
are surprisingly moderate compared with the nation overall.
This indicates that the effective tax rates
are directly related to the underlying debt policy.
Late last year, RILA commissioned a Pricewaterhouse-Coopers study highlighting the disparities in the effective tax rates
Technology Corporations, 2010 Effective tax Effect of lower Foreign share of rate foreign tax rates worldwide income Apple 24.4% -11.5% 70% Dell 21.3% -14.7% 84% Hewlett-Packard 20.2% -18.3% 63% IBM 25.0% -10.0% 54% Microsoft 25.0% -12.1% 62% Source: Fiscal year 2010 annual reports When evaluating the effective tax rates
reported in the company's financial statements, it is important to remember that corporations do not always assume that all of their foreign earnings are indefinitely reinvested abroad, in which case a deferred tax liability is booked in the current year, even though no U.S.
Companies argue that by including deferred taxes in figuring out an effective tax rate
, there will be fewer swings in that rate from year to year, and shareholders get a better idea of what it pays in taxes.
(7) The second period followed the changes in 1986, leading to a stabilization of the effective tax rates
. (8) The third period exhibited sharp declines in the effective tax rate
beginning in 1997 and gained further momentum after 2000 with the passage of three new tax bills.
multinationals have to reduce their effective tax rates
, an executive who does not consider such opportunities is missing an important aspect of corporate financial management.
However, the effective tax rates
applied to the energy products concerned, and to electricity, cannot be less than 50% of the relevant EU minimum rates as from 1/1/2007
The five most critical drivers are: profitable revenue growth rate; operating income margin; effective tax rate
; working capital efficiency; and fixed capital efficiency.
The rest of the unexpected 1997 revenues from individual income taxes is likely to have resulted, at least in part, from higher-than-expected effective tax rates
* Claims of government (tax liabilities) are transferred to policyholders at the prevailing effective tax rates
, so that an economic profit can be earned by crafting a lower effective tax rate
(assuming, of course, that this strategy is not available to, or employed by, the competitors of the firm, in which case a lower competitive premium develops);
The discussion that follows begins in Section 1 with an examination of the conceptual issues associated with measuring effective tax rates
. Section 2 develops a financial model of banks that can be used to estimate an effective tax rate
on commercial bank intermediation.