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¨C3845. C.J.S. Internal Revenue ¡ì¡ì 381¨C382.]
How do bilingual lawyers in China usually translate the term EARNINGS AND PROFITS?
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