Income Tax
Income tax vs. taxable income.
Taxable Income
can be expressed as
TI = Σ R - Σ C - Σ D - Σ OE (1)
where
TI = taxable income
R = revenues
C = operating costs of projects or goods sold
D = assets depreciation
OE = operating expenses
Income Taxes
can be calculated as
IT = TI tr (2)
where
IT = income taxes
tr = tax rate
Related Topics
-
Economics
Engineering economics - cash flow diagrams, present value, discount rates, internal rates of return - IRR, income taxes, inflation.
Related Documents
-
Net Income
Operating profit after tax. -
Operating Profit
Profit is made when revenue exceeds costs.
