FAS 109 definition

FAS 109 means Financial Accounting Standard 109, “Accounting for Income Taxes.”29
Sample 1Sample 2Sample 3
FAS 109 means Financial Accounting Standard 109, “Accounting for Income Taxes.”11
Sample 1Sample 2
FAS 109 means Financial Accounting Standard 109, “Accounting for Income Taxes.”33
Sample 1Sample 2

Examples of FAS 109 in a sentence

  • For purposes of computing taxable income under Rhode Island’s combined reporting statute, the taxpayer shall not claim a FAS 109 deduction.

  • Income tax expense for each of the years presented is determined in accordance with FAS 109.

  • Formerly referred to as FAS 109 Tax Gross-Up. Recorded in Account 254.

  • The FAS 109 deduction shall be claimed annually over a seven (7)-year period beginning with the combined group’s taxable year that begins in 2015 equal to one-seventh (1/7) of the deduction amount.

  • Only companies that were publicly traded as of January 1, 2011 and that prepare their financial statements in accordance with GAAP qualify for the FAS 109 deduction.

  • The term “publicly traded company” shall mean a company whose stock is publicly traded; a privately held company that issues publicly traded debt is not eligible for the FAS 109 deduction.

  • If the enactment of combined reporting requirements for unitary businesses in the District results in an increase to a combined group's net deferred tax liability, the combined group is entitled to a FAS 109 deduction.

  • Rather, the taxpayer shall add a statement to Schedule CRS describing the FAS 109 impact on the taxpayer, including alump sum amount.

  • Under Financial Accounting Standard 109 (“FAS 109”), a corporation that is required to issue financial statements must create a liability or an asset for estimated taxes payable or refundable for the current year.For purposes of computing taxable income under the Rhode Island pro forma combined report, the taxpayer shall not claim a FAS 109 deduction.

  • The fiscal 2012 budget approved by the Governor on July 11, 2011 assumes tax revenues of$20.636 billion, reflecting the fiscal 2012 consensus tax estimate of $20.525 billion which was adjusted for the impact of revenue initiatives enacted as part of the budget, most notably including a one-year delay of the FAS 109 deductions ($45.9 million) and enhanced tax enforcement initiatives ($61.5 million).


More Definitions of FAS 109

FAS 109 as defined in Section 9.10(a).
Sample 1
FAS 109 means Statement of Financial Accounting Standards No. 109, Accounting for Income Taxes, issued February 1992.
Sample 1

Related to FAS 109

  • FAS means Free alongside shipment

  • FASB means the Financial Accounting Standards Board.

  • ASC Topic 718 means the Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation – Stock Compensation, as amended or any successor accounting standard.

  • Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;

  • FASB ASC means the Accounting Standards Codification of the Financial Accounting Standards Board.

  • Accounting Standard means GAAP.

  • auditing standards means auditing standards as defined in National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards;

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • Australian Accounting Standards refers to the standards of that name, as amended from time to time, that are maintained by the Australian Accounting Standards Board referred to in section 227 of the Australian Securities and Investments Commission Act 2001 (Cth);

  • AICPA means the American Institute of Certified Public Accountants.

  • National Standards means the document entitled “National Standards for the Volatile Organic Compound Content of Canadian Commercial/Industrial Surface Coating Products Automotive Refinishing, October 1998, PN 1288" and published by the Canadian Council of Ministers of the Environment;

  • International Financial Reporting Standards means the accounting standards and interpretations adopted by the International Accounting Standards Board.

  • Operating Standards shall have the meaning given such term in Section 2.1.

  • Common Reporting Standard (CRS) means the Standard for Automatic Exchange of Financial Account Information (“AEOFAI”) in Tax Matters and was developed in response to the G20 request and approved by the Organisation for Economic Co-operation and Development (OECD) Council on 15 July 2014, calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. It sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions.

  • Common Reporting Standard means the standard for automatic exchange of financial account information in tax matters (which includes the Commentaries), developed by the OECD, with G20 countries;

  • ASC means the Financial Accounting Standards Board Accounting Standards Codification, as in effect from time to time.

  • Pro Forma means producing a balance sheet that reflects a reasonably accurate financial statement of the Failed bank through the date of closing. The pro forma financial statements serve as a basis for the opening entries of both the Assuming Institution and the Receiver.

  • Accounting Statement means for each financial year, the following statements, namely-

  • Accounting Restatement means an accounting restatement that the Company is required to prepare due to the material noncompliance of the Company with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.

  • International Accounting Standards means International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and related Interpretations (SIC-IFRIC interpretations), subsequent amendments to those standards and related interpretations, and future standards and related interpretations issued or adopted by the International Accounting Standards Board (IASB);

  • IASB means the International Accounting Standards Board;

  • Financial Statement has the meaning set forth in Section 4(g) below.

  • Consolidated Financial Statements means, with respect to any Person, collectively, the consolidated financial statements and notes to those financial statements, of that Person and its Consolidated Subsidiaries prepared in accordance with GAAP.

  • Earnings from Operations for any period means net earnings excluding gains and losses on sales of investments, extraordinary items and property valuation losses, as reflected in the financial statements of the Company and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Financial Reporting Measure means any measure determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and any measures derived wholly or in part from such measures, including GAAP, IFRS and non-GAAP/IFRS financial measures, as well as stock or share price and total equityholder return.