Salesforce.com 2009 Annual Report Download - page 86
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Table of Contents
salesforce.com, inc.
Notes to Consolidated Financial Statements—(Continued)
The provision for income taxes consisted of the following (in thousands):
Fiscal Year Ended January 31,
2010 2009 2008
Current:
Federal $ 43,313 $ 55,228 $ 31,245
State 8,788 7,701 4,515
Foreign 12,179 7,699 6,502
Total 64,280 70,628 42,262
Deferred:
Federal (4,506) (26,979) (13,800)
State (979) (5,372) (3,192)
Foreign (1,106) (720) (1,885)
Total (6,591) (33,071) (18,877)
Provision for income taxes $ 57,689 $ 37,557 $ 23,385
A reconciliation of income taxes at the statutory federal income tax rate to the provision for income taxes included in the accompanying consolidated
statements of operations is as follows (in thousands):
Fiscal Year Ended January 31,
2010 2009 2008
U.S. federal taxes at statutory rate $ 49,833 $ 29,957 $ 16,175
State, net of the federal benefit 8,645 4,685 2,916
Foreign losses providing no benefit — 3,091 4,547
Foreign taxes in excess of the U.S. statutory rate 6,748 3,537 2,326
Tax credits (9,845) (5,222) (3,817)
Non-deductible expenses 755 901 1,346
Impact of California tax law change 2,747 — —
Tax—noncontrolling interest (1,390) — —
Other, net 196 608 (108)
$ 57,689 $ 37,557 $ 23,385
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