Accounting For Income Tax: Beyond the Basics of ASC 740

• Since the ASC 740-270-30-36a exception applies to the losses in Jurisdiction A (i.e. jurisdiction A is excluded from ETR calc), the AETR used to calculate the quarterly tax expense and the tax expense recognized in each interim period are as follows: • Total tax expense = $320 = 40% • Total operating income $800 21 ................
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