Viewing a single comment thread. View all comments

ErieSpirit t1_jabyer7 wrote

Reply to comment by 1714alpha in [OC] Capital One’s 2022 Income Statement Visualized by Square_Tea4916

A couple of points:

  1. That line item just says taxes, so more than just federal income tax. Could include payroll taxes, local taxes, foreign taxes. It also can include past year accruals.

  2. One can't tell what they paid in federal income taxes, or what percentage, without seeing their 1120 tax return, which is not public.

  3. I assume this graphic represents what is on their 10k SEC filing. This would be done with accounting standards such as GAAP. The IRS has their own accounting standards for tax purposes, which are different than GAAP. Their 1120 tax return may not reflect the same numbers as shown here.

1

Obvious_Chapter2082 t1_jadbdym wrote

Once their 10-K is released, you can probably get a good guess from their current provision. But I agree, total income tax expense won’t even be close to the actual tax they pay

1

ErieSpirit t1_jadkami wrote

Yep, in another month I think we can read the tea leafs on their 2022 10k.

1