What is income Tax expense a percetage of?

eight20one: What is income Tax expense a percetage of?
I have an adjusting journal entry that says Income Tax Expense is .32 with no extraordinary or unusual items to consider in this calculation. What is this a percentage of? What is the calculation?
I have the entry as a debt to Income Tax Expense and a Credit to Income Tax Payable.

Answers and Views:

Answer by cathylwgp
Income taxes without deductions are normally one third. I always set aside a third to pay Uncle Sam.

Answer by Frank
Income Tax Expense is a percentage of Net Income. Your entry is correct. So you have to calculate Net Income Before Income Tax, skip a line, put Income Tax and the formula of .32*the cell with NIBIT, then total it and call it Net Income After Income Tax.