The number of statements issued will grow significantly, though not necessarily the profits reported in them.
MFI has undergone significant restructuring since profits reported last year fell 70%.
Assuming profits as reported in the GDP data move in line with profits reported publicly by companies, profits are likely to fall even further relative to GDP this year.
In the late 1990's, the share of corporate profits reported to shareholders that was taxed by the government declined.
Disappointing profits reported by Wall Street firms could spell trouble for the city's budget, Mayor Michael R. Bloomberg said yesterday.
The penalty represents less than 2percentt of the 2000 profits reported by Charles Schwab & Company, which acquired U.S. Trust last year.
Corporate profits reported to the I.R.S. were 252percentt higher in 1997 than in 1990, but taxes rose just 191percentt.
That followed a similar picture at the carmaker Hyundai, whose reduced profits, reported Thursday, nevertheless beat expectations.
What a coincidence.So globalisation hampers the taxman's ability to check the accuracy of profits reported by firms.
A14 Profits Questioned Some money managers and independent accounting experts are raising questions about profits reported by Fannie Mae, Freddie Mac's even larger corporate cousin.
