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.
The amount of franchise tax on each corporation was set at the greater of 0.25% of the corporation's net taxable capital or 4.5% of the corporation's net taxable earned surplus
. Net taxable earned surplus
was defined in the state statute by reference to the corporation's federal taxable income.
The structure of the financial provisions was grounded in the concepts of "net assets," "stated capital," "capital surplus," and "earned surplus
." Dividends could be paid only out of "unrestricted and unreserved" earned surplus
, subject to exceptions added in later for natural resource or "wasting asset" businesses and "nimble dividends," and a few exceptions such as elimination of preferred-stock dividend arrearages.
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
. This created a "pooling effect."
For example, consider the Texas franchise tax, which historically has been equal to the greater of a tax imposed on an entity's net taxable capital (i.e., a net worth tax) or its net earned surplus
(i.e., a net income tax).
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 80.9 billion yen, the first outcome of its kind for the company except in the chaotic postwar days.
86-272 for earned surplus
purposes, and overruled a previous comptroller's decision indicating that delivery in company-owned vehicles was unprotected; see.
In a strategy to shield the bank from future stock appraisal losses, the bank said it will convert 600 billion yen of its 1.9 trillion yen in legal capital reserves into its earned surplus
or voluntary capital reserves, a key capital component that can be legally tapped to cover such appraisal losses.