Deferred tax

InfraCap MLP ETF (NYSE Arca: AMZA) Tax Update

Retrieved on: 
Friday, July 28, 2023
Professional Services, Insurance, Finance, Construction & Property, Asset Management, Consulting, REIT, Master limited partnership, Partnership, ETF, Investment, Classification, Tax Cuts and Jobs Act of 2017, NOL, MLP, Virtus Investment Partners, Economy, All rights reserved, TCJA, Coronavirus, NAV, Terrorism, Adviser, Sale, Prospectus, Education for Economic Security Act, Risk, Hedge fund, FINRA, Tax, Deferred tax, Fund, Russian National Wealth Fund, Financial adviser, Life insurance, Bank

Following the conclusion of a regular tax analysis conducted on the InfraCap MLP ETF (the "Fund"), Virtus ETF Advisers LLC, the Fund’s investment adviser, is announcing a change in accounting estimate related to the Fund's net deferred tax liability.

Key Points: 
  • Following the conclusion of a regular tax analysis conducted on the InfraCap MLP ETF (the "Fund"), Virtus ETF Advisers LLC, the Fund’s investment adviser, is announcing a change in accounting estimate related to the Fund's net deferred tax liability.
  • Tax Law Changes and Current Period Changes in Taxable Income: Various tax law changes were considered by the Fund in assessing the recoverability of its deferred tax assets.
  • VP Distributors, Inc. is the distributor for the InfraCap MLP ETF.
  • A change in current tax law, or a change in the underlying business mix of a given MLP, could result in an MLP being treated as a corporation for U.S. federal income tax purposes, which would result in such MLP being required to pay U.S. federal income tax on its taxable income.

Lucasys Surges Ahead with New Deferred Tax Solution

Retrieved on: 
Thursday, March 30, 2023
Forecasting, Deferred tax, Tax, Entrepreneurship, Accounting, Software, Tarache lucasi, Life insurance, Online shopping

ATLANTA, March 30, 2023 (GLOBE NEWSWIRE) -- Lucasys , the leading provider of tax technology and services for rate-regulated companies, announces the release of its Deferred Tax software solution.

Key Points: 
  • ATLANTA, March 30, 2023 (GLOBE NEWSWIRE) -- Lucasys , the leading provider of tax technology and services for rate-regulated companies, announces the release of its Deferred Tax software solution.
  • Lucasys Deferred Tax is flexible software that can be tailored to meet the specific needs and requirements of each utility.
  • Lucasys Deferred Tax has revolutionized the tracking of excess deferred income taxes by giving users the ability to view and manage excess deferred taxes separately for each rate change event.
  • To learn more about Lucasys Deferred Tax, visit https://www.lucasys.com/deferred-tax-solutions , or to schedule a demo, visit https://www.lucasys.com/demo .

ALERIAN MLP ETF TAX UPDATE

Retrieved on: 
Tuesday, November 29, 2022
Software, Deferred tax, NOLS, Fiscal, SS&C, Master limited partnership, Weather, ETF, Partnership, MLP, Natural gas, Coronavirus, Prospectus, Adviser, Investment, Tax Cuts and Jobs Act of 2017, NAV, AAI, Tax, Fund, ALPS, SS, Sale, Economy, TCJA, SS&C Technologies, NOL, Index, Life insurance, Financial adviser, Security (finance)

DENVER, Nov. 29, 2022 /PRNewswire/ -- Following the conclusion of a regular fiscal year-end tax analysis conducted on the Alerian MLP ETF (the "Fund" or "AMLP"), ALPS Advisors, Inc. (the "Advisor" or "AAI) is announcing a change in accounting estimate related to the Fund's net deferred tax liability.

Key Points: 
  • DENVER, Nov. 29, 2022 /PRNewswire/ -- Following the conclusion of a regular fiscal year-end tax analysis conducted on the Alerian MLP ETF (the "Fund" or "AMLP"), ALPS Advisors, Inc. (the "Advisor" or "AAI) is announcing a change in accounting estimate related to the Fund's net deferred tax liability.
  • Tax Law Changes and Current Period Changes in Taxable Income:Various tax law changes were considered by the Fund in assessing the recoverability of its deferred tax assets.
  • ALPS Portfolio Solutions Distributor, Inc. is also the distributor for the Alerian Energy Infrastructure ETF and the ALPS | Alerian Energy Infrastructure Portfolio.
  • The Alerian MLP ETF distributes a single Form 1099 to its shareholders.

Corcept Therapeutics Announces Second Quarter Financial Results and Provides Corporate Update

Retrieved on: 
Thursday, July 29, 2021
Tax, Tax accounting, Income tax in the United States, Deferred tax, Bas, Employee stock option, Economy, Income tax, Money

Second quarter 2021 GAAP net income was $26.5 million, compared to $28.3 million in the second quarter of 2020.

Key Points: 
  • Second quarter 2021 GAAP net income was $26.5 million, compared to $28.3 million in the second quarter of 2020.
  • Excluding non-cash expenses related to stock-based compensation and the utilization of deferred tax assets, together with related income tax effects, non-GAAP net income in the second quarter was $38.2 million, compared to $39.7 million in the second quarter of 2020.
  • Second quarter operating expenses were $59.6 million, compared to $53.3 million in the second quarter of 2020, due to increased employee compensation expenses, commercial spending, spending on clinical trials in Cushings syndrome and pre-clinical activities.
  • Our second quarter results reflect the fact that physicians are seeing their patients more frequently, which allows them to diagnose and optimally treat those who have Cushings syndrome.

Corcept Therapeutics Announces Fourth Quarter and Full-Year 2020 Audited Financial Results

Retrieved on: 
Tuesday, February 23, 2021
Tax accounting, Corporate taxation, Deferred tax, Bas, Income tax in the United States, Employee stock option, Economy, Finance, Money

Fourth quarter revenue was$85.7 million, compared to$87.9 millionin the fourth quarter of 2019.

Key Points: 
  • Fourth quarter revenue was$85.7 million, compared to$87.9 millionin the fourth quarter of 2019.
  • GAAP net income was$106.0 millionfor the year and$26.0 millionin the fourth quarter of 2020, compared to$94.2 millionfor the year and$29.4 millionin the fourth quarter of 2019.
  • Excluding non-cash expenses related to stock-based compensation and the utilization of deferred tax assets, together with related income tax effects, non-GAAP net income was$34.7 millionin the fourth quarter, compared to$40.3 millionin the fourth quarter of 2019.
  • Cash and investments increased by$32.7 millionin the fourth quarter, to$476.9 million at December 31, 2020.

DGAP-News: Commerzbank expects to fully write off existing goodwill of around €1.5bn and a negative risk result of at least €1.7bn

Retrieved on: 
Friday, January 8, 2021
Economy, Money, Financial markets, Financial economics, Commerzbank, Valuation, Balance sheet, Deferred tax, Goodwill, Finance

The changed market parameters that led to the goodwill write-off will also have a negative impact on the valuation of the deferred tax assets.

Key Points: 
  • The changed market parameters that led to the goodwill write-off will also have a negative impact on the valuation of the deferred tax assets.
  • Manfred Knof, CEO of Commerzbank, stated: "After this balance sheet clean-up, we are well prepared for the road ahead of us.
  • For the financial year 2020, the bank also expects a risk result of at least minus 1.7 billion.
  • With the higher risk result the bank also anticipates the currently expected impact of the second lockdown.

Commerzbank expects to fully write off existing goodwill of around €1.5bn and a negative risk result of at least €1.7bn

Retrieved on: 
Friday, January 8, 2021
Economy, Money, Financial markets, Financial economics, Commerzbank, Valuation, Balance sheet, Deferred tax, Goodwill, Finance

The changed market parameters that led to the goodwill write-off will also have a negative impact on the valuation of the deferred tax assets.

Key Points: 
  • The changed market parameters that led to the goodwill write-off will also have a negative impact on the valuation of the deferred tax assets.
  • Manfred Knof, CEO of Commerzbank, stated: 'After this balance sheet clean-up, we are well prepared for the road ahead of us.
  • For the financial year 2020, the bank also expects a risk result of at least minus 1.7 billion.
  • With the higher risk result the bank also anticipates the currently expected impact of the second lockdown.

CCOM Group, Inc. Reports 2020 Third Quarter Results

Retrieved on: 
Tuesday, November 10, 2020
Retail, Specialty, Construction & Property, Building Systems, Tax accounting, Corporate taxation, Deferred tax, Tax expense, Income tax in the United States, Tax, Economy

CCOM Group, Inc. (CCOM) (OTC Pink: CCOM, CCOMP), announced its financial results for the quarter and nine months ended September 30, 2020.

Key Points: 
  • CCOM Group, Inc. (CCOM) (OTC Pink: CCOM, CCOMP), announced its financial results for the quarter and nine months ended September 30, 2020.
  • Results for the quarter ended September 30, 2020 compared to results for the same period in 2019:
    Net income increased 18.1% to $917,443 from $776,788; the 2020 and 2019 amounts include a $158,333 non-cash deferred income tax expense (with a corresponding decrease to CCOMs deferred tax asset).
  • Results for the nine months ended September 30, 2020 compared to results for the same period in 2019:
    Net income decreased 31.4% to $1,161,213 from $1,693,443; the 2020 and 2019 amounts include a $316,666 non-cash deferred income tax expense (with a corresponding decrease to CCOMs deferred tax asset).
  • CCOM is headquartered in New Jersey, and, with its affiliates, operates out of 15 locations in its geographic trading area.

Evergy Announces 2020 Third Quarter Results

Retrieved on: 
Thursday, November 5, 2020
Utilities, Energy, Evergy, Forward-looking statement, Deferred tax, KANSAS, Articles, United States, Corporate finance

Reflects the revaluation of Evergy Kansas Central's, Evergy Metro's and Evergy Missouri West's deferred income tax assets and liabilities from the Kansas corporate income tax rate change.

Key Points: 
  • Reflects the revaluation of Evergy Kansas Central's, Evergy Metro's and Evergy Missouri West's deferred income tax assets and liabilities from the Kansas corporate income tax rate change.
  • Evergy, Inc. (NYSE: EVRG), through its operating subsidiaries Evergy Metro and Evergy Kansas Central, provides clean, safe and reliable energy to 1.6 million customers in Kansas and Missouri.
  • Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information.
  • In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Evergy, Inc., Evergy Kansas Central, Inc. and Evergy Metro, Inc. (collectively, the Evergy Companies) are providing a number of risks, uncertainties and other factors that could cause actual results to differ from the forward-looking information.

ASUR Reports 3Q20 Financial Results

Retrieved on: 
Thursday, October 22, 2020
Economy, Finance, Money, Corporate taxation, Profit, Accounting, Depreciation, Deferred tax, Amortization, Earnings before interest, taxes, depreciation and amortization, Net income, Expense

The same amount is recognized under the expense line "Construction Costs" because ASUR hires third parties to provide construction services.

Key Points: 
  • The same amount is recognized under the expense line "Construction Costs" because ASUR hires third parties to provide construction services.
  • EBITDAmeans net income before provision for taxes, deferred taxes, profit sharing, non-ordinary items, participation in the results of associates, comprehensive financing cost, and depreciation and amortization.
  • The same amount is recognized under the expense line "Construction Costs" because ASUR hires third parties to provide construction services.
  • Headquartered in Mexico, ASUR is listed both on the Mexican Bolsa, where it trades under the symbol ASUR, and on the NYSE in the U.S., where it trades under the symbol ASR.