Sprint - Nextel 2011 Annual Report Download - page 124
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Table of Contents
CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
The income tax provision consists of the following for the years ended December 31, 2011, 2010 and 2009 (in thousands):
The income tax rate computed using the federal statutory rates is reconciled to the reported effective income tax rate as follows:
F-57
9. Income Taxes
Year Ended December 31,
2011 2010 2009
Current taxes:
International $ (59) $ 161 $ 10
Federal
—
—
(1)
State 1,579 700 149
Total current taxes 1,520 861 158
Deferred taxes:
International
—
357 2
Federal 96,292
—
—
State 9,016
—
—
Total deferred taxes 105,308 357 2
Income tax provision $ 106,828 $1,218
$160
Year Ended December 31,
2011 2010 2009
Federal statutory income tax rate 35.0 % 35.0 % 35.0 %
State income taxes (net of federal benefit) 0.7 1.0 1.1
Non-controlling interest (27.5) (27.6) (25.9)
Other, net (1.4) 0.1 (0.5)
Allocation to items of equity other than other comprehensive income 1.7
—
—
Valuation allowance (12.4) (8.6) (9.7)
Effective income tax rate (3.9)% (0.1)%
—
%