Nautilus 2015 Annual Report Download - page 23
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Please find page 23 of the 2015 Nautilus annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.As of December 31, 2015 we have a valuation allowance against net deferred income tax assets of $0.9 million . If our assumptions change and we determine we
will be able to realize these deferred income tax assets, the tax benefits related to any reversal of the valuation allowance will be accounted for in the period in
which we make such determination. Likewise, should we determine that we would not be able to realize our deferred income tax assets in the future, an adjustment
to the valuation allowance to reserve for the deferred income tax assets would increase expense in the period such determination was made.
Unrecognized Tax Benefits
Significant judgments are required in determining tax provisions and evaluating tax positions. Such judgments require us to interpret existing tax law and other
published guidance as applied to our circumstances. If our financial results or other relevant facts change, thereby impacting the likelihood of realizing the tax
benefit of an uncertain tax position, significant judgment would be applied in determining the effect of the change. A tax benefit from an uncertain tax position
may be recognized when it is more likely than not that the position will be sustained based on the technical merits of the position upon examination, including
resolutions of any related appeals or litigation.
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