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TSR Inc  (NAS:TSRI) Tax Expense: \$0.25 Mil (TTM As of Aug. 2017)

TSR Inc's tax expense for the months ended in Aug. 2017 was \$0.12 Mil. Its tax expense for the trailing twelve months (TTM) ended in Aug. 2017 was \$0.25 Mil.

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

TSR Inc Annual Data

 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 Tax Expense -0.21 0.02 0.15 0.39 0.26

TSR Inc Quarterly Data

 Nov12 Feb13 May13 Aug13 Nov13 Feb14 May14 Aug14 Nov14 Feb15 May15 Aug15 Nov15 Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Tax Expense 0.14 0.11 -0.06 0.08 0.12

Calculation

Tax paid by the company. It is computed in by multiplying the income before tax number, as reported to shareholders, by the appropriate tax rate. In reality, the computation is typically considerably more complex due to things such as expenses considered not deductible by taxing authorities ("add backs"), the range of tax rates applicable to various levels of income, different tax rates in different jurisdictions, multiple layers of tax on income, and other issues.

Tax Expense for the trailing twelve months (TTM) ended in Aug. 2017 was 0.11 (Nov. 2016 ) + -0.058 (Feb. 2017 ) + 0.075 (May. 2017 ) + 0.118 (Aug. 2017 ) = \$0.25 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Explanation

In the long run, income before tax and taxable income will likely be more similar than they are in any given period. If the one is less in earlier years, then it will be greater in later years. Deferred taxes will reverse themselves in the long run and in total will zero out, unless there is something like a change in tax rates in the intervening period. A deferred tax payable results from a tax break in the early years and will reverse itself in later years; a deferred tax receivable results from more taxes being paid in early years than the tax expense reported to shareholders and will again reverse itself in later years. The deferred tax amount is computed by estimating the amount and the timing of the reversal and multiplying that by the appropriate tax rates.

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