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Income Taxes
6 Months Ended
Jun. 30, 2011
Income Taxes  
Income Taxes

NOTE 12:  INCOME TAXES

 

Generally for interim tax reporting, one overall estimated annual effective tax rate is computed for tax jurisdictions not subject to valuation allowance and applied to the year to date ordinary income loss.

 

The accounting standard regarding accounting for uncertainty in income taxes requires uncertain tax positions to be classified as non-current income tax liabilities unless expected to be paid within one year.  As of June 30, 2011, the Company has no liability for unrecognized tax benefits.

 

The Company and its subsidiaries file a U.S. federal consolidated income tax return.   The U.S. federal statute of limitations remains open for the years 2007 and thereafter.