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PulteGroup, Inc. Message Board

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  • rajoilprasad rajoilprasad Jan 31, 2008 8:15 AM Flag

    Why 400+ MM$ of tax liability

    Thanks for the reply. On their earning statement they have 400+ MM$ of operating losses and then they have taxes of 400+ MM$. Thats the tax I am questioning. Why pay 400+ MM$ taxes when u have loss. It is not in the balance sheet.

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    • As I noted, they wrote off $600M+ of deferred tax assets. This expense is recorded as an income tax expense on the income statement. The difference between the $600M+ tax write-off and the $400+MM recorded is likely due to income tax benefit they recorded to offset the deferred tax write-off because they probably had operating tax losses (tax basis) for the quarter. So net net, it came out to $480M of income tax expense.

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