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Re: Does anybody know why our tax rate went down 25 basis points for this quarter?

By: postyle in IDCC | Recommend this post (0)
Fri, 28 Oct 11 10:48 PM | 254 view(s)
Boardmark this board | InterDigital Communications 		Msg. 43488 of 48237
(This msg. is a reply to 43487 by imalurker_2)
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From the 10Q:

In first nine months 2011 , our effective tax rate was approximately 27.3% based on the statutory federal tax rate net of discrete foreign taxes and a $6.8 million benefit related to the reversal of a previously accrued liability for tax contingencies of $6.5 million plus $0.3 million of interest. During first nine months 2010 , our effective tax rate was approximately 35.3% based on the statutory federal tax rate net of discrete foreign taxes.
During first nine months 2011 and first nine months 2010 , we paid approximately $4.8 million and $35.2 million , respectively, of foreign source withholding tax. We previously accrued approximately $2.9 million of the first nine months 2011 foreign source withholding payments and established a corresponding deferred tax asset representing the associated foreign tax credit that we expect to utilize to offset future U.S. federal income taxes.




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The above is a reply to the following message:
Re: Does anybody know why our tax rate went down 25 basis points for this quarter?
By: imalurker_2 in IDCC
Fri, 28 Oct 11 10:42 PM 		Msg. 43487 of 48237

I don"t know Loop - But I'll ask Cordell. He will know.

IMA

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