earnings and profits

earnings and profits. Corporations. In corporate taxation, the measure of a corporation’s economic capacity to make a shareholder distribution that is not a return of capital. • The distribution will be dividend income to the shareholders to the extent of the corporation’s current and accumulated earnings and profits. Cf. accumulated-earnings tax under TAX; accumulated taxable income under INCOME. [Cases: Internal Revenue 3830.1–3845. C.J.S. Internal Revenue §§ 381–382.]

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词条贡献者

双语律师Howard，毕业于法国一流的高级翻译学院，擅长翻译各类与欧美消费者隐私法规相关的法律文件。