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Case 9-2
Ted was arrested and charged with the first degree murder of Susan. Ted and Susan were coworkers at a local bar where Ted was the busboy and Susan was a waitress. The prosecutors believed there was convincing evidence that Ted was obsessed with Susan and when she rejected him, he raped and then strangled her. Prosecutors are seeking the death penalty.
-The Supreme Court now requires that all death penalty cases follow certain procedures. One of these requirements is that there is a guilt phase and a sentencing phase of a death penalty trial. This is known as:
Taxable Income
The portion of an individual's or corporation's income that is subject to taxation by governmental authorities.
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Book income refers to the amount of income reported by a company in its financial statements according to accounting principles, before any adjustments for tax purposes.
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Future tax payments a company is obligated to pay the government, arising due to temporary differences between its taxable income and its accounting earnings.
Deferred Tax Assets
Future tax benefits obtained due to deductible temporary differences and carryforwards, recognized in financial accounting.
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