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.]
专业法律词汇 词条贡献者
资深译员Lester,毕业于美国一流的高级翻译学院,专注翻译各种与复杂国际仲裁有关的法律文件。
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