Represents the upper limit on the amount of dividend income that is recognized on earnings distributions. Current earnings and profits is calculated by combining tax-exempt with taxable income and subtracting certain non-deductible items. Current earnings and profits must be paid out to currently to avoid becoming accumulated earnings.
Related information about current earnings and profits:
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Definition of current earnings and profits: Represents the upper limit on the amount of dividend income that is recognized on earnings distributions. Current ...
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Arrived at by adding nontaxable or tax-exempt income to taxable income for the tax year. Current earnings and profits , if not paid out, become accumulated.
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crease in current earnings and profits below taxable income. For example, if a ... profits) had current earnings and profits of $100,000 but taxable income of ...
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PLAN. 145, 147 (1966) (current earnings and profits equals taxable income plus nontaxable .... modern concept of prorating current earnings and profits over the ...
- 26 CFR 1.367(b)-7 - Legal Information Institute - Cornell University
Apr 1, 2012 ... For the taxable year ending on December 31, 2008, foreign surviving corporation has 500u of current earnings and profits in the general ...
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Apr 1, 2012 ... The 50u is a dividend out of current earnings and profits under section ... Note that even if there were no current earnings and profits in ...
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taxable dividend distributions must first be made out of current earnings and profits before any return of capital can be made. If the aggregate value of the ...
- Distributions - Pennsylvania Code
(i) The amount of the investment company's current earnings and profits determined without taking into account the following: (A) The investment company's ...