I have not looked at their tax statements, so I don't know what is going on.
They may be able to postpone tax payments due to investment tax credits,
etc. In the long run, if they keep making money, they will eventually be
paying income taxes if they don't already.

Mike Schumann

"Mike Rapoport" wrote in message
k.net...
Sorry but that is not true. The income statement is based on GAAP which
is different from tax accounting. If you go to the cash flow statement
you will see an adjustment for taxes since they did not pay the amount in
the income statement.

Mike
MU-2


"Robert M. Gary" wrote in message
oups.com...
For a guy with the handle taxsrv, I am surprised that you don't know the
difference between GAAP and tax accounting and that you can't reconcile
the
cash flow statement with the earnings statement

Mike, if their 10K (GAAP) reports expenses for taxes, its a good bet
they are paying income tax.

-Robert