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

法律翻译Dan，在一家专注于能源领域的国际律师事务所担任全职法律翻译，擅长翻译有关新兴技术领域的法律文件。