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In: Accounting

Where do I find income tax expense and cash paid for taxes on a profit and...

Where do I find income tax expense and cash paid for taxes on a profit and loss statement that's part of a 10-K? Can an example be provided from an SEC company?

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Expert Solution

Income tax expense is calculated once the net taxable income of an assessee has been arrived at. It's usually displayed in the second last of the Profit & Loss Statement just before net income after taxes.

Cash paid on taxes is reflected in the Cash Flow Statement as an outflow of funds towards payment of income tax which has been calculated in Profit & Loss Statement.

Form 10-K image of Upland Software Inc. which is a listed company has been provided as illustration

ekkarill92 answered 1 year ago
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