Where can I find the amount of income taxes paid by a corporation?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 rohith asked almost 3 years ago

Hi, Where can I find the amount of income taxes paid by a corporation?

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

US GAAP requires corporations to report the amount of income taxes paid. The AICPA's Accounting Trend and Techniques indicates that approximately half of the 500 large corporations that it surveyed had reported the amount of income taxes paid at the bottom of the statement of cash flows.

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Open uri20170510 32134 s5bvk0?1494421637 ARJUN PRATAP SINGH answered almost 3 years ago

Dear Friend, as far as your query is concerned that Where can I find the amount of income taxes paid by a corporation? Let me informed that You can find the amount of income taxes paid by a corporation by reading its statement of cash flows and its notes to the financial statements. US GAAP requires corporations to report the amount of income taxes paid. The AICPA's Accounting Trend and Techniques indicates that approximately half of the 500 large corporations that it surveyed had reported the amount of income taxes paid at the bottom of the statement of cash flows. Almost the same number had reported the amount of income taxes paid in its notes to the financial statements. Only 5 or 6 corporations had reported the amount within its statement of cash flows. For U.S. corporations whose stock is publicly-traded, you will find the statement of cash flows included in its Form 10-K, which is the annual report to the Securities and Exchange Commission (SEC). It is important to understand that the income tax provision reported on the income statement is not the amount of income taxes paid in that period. Hope answer was helpful to you Regards, Arjun Pratap Singh

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