Intraperiod Income Tax Allocation
Intraperiod Income Tax Allocation means:
the distribution of tax for the current year in different parts of the financial statement. For example, tax expense is shown on income before tax, cumulative effect of a change in principal net of tax, extraordinary items net of tax, and prior period adjustments net of tax. The company's tax for book purposes therefore includes all tax effects of various financial statement items. Contrast interperiod income tax allocation.
See the entries Income Tax and State Income Tax in the American Encyclopedia of Law.
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