McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

Exercise 65

{ research } What was IBM's accounting effective tax rate for 2010? What items caused the company's accounting effective tax rate to differ from the "hypothetical" tax rate of 35%? What was the company's cash effective tax rate for 2010? What factors cause a company's cash tax rate to differ from its accounting effective tax rate? You can access IBM's annual report for 2010 at http://www.bm.om.