Business, 06.05.2020 03:02 addisonrausch

The following is an excerpt from Walmart's 2015 Form 10-K A summary of the provision for income taxes is as follows ($ millions):

Current: U. S. federal $6,276
U. S. state and local 810
International 1,529
Total current tax provision 8,615
Deferred: U. S. federal (409)
U. S. state and local (55)
International (77)
Total deferred tax expense (benefit) $(541)

a. What amount of income tax expense does Walmart report in its income statement for 2015?
b. How much of Walmart's income tax expense was determined from the company's tax returns?
c. How did deferred taxes affect Walmart's tax expense for the year? Deferred taxes increased Walmart's income tax provision for the year. Deferred taxes decreased Walmart's income tax provision for the year. Deferred taxes did not affect Walmart's income tax provision for the year.

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The following is an excerpt from Walmart's 2015 Form 10-K A summary of the provision for income taxe...

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