When learning how to calculate the valuation of your company, you probably learned about EBITDA. The information in the EBITDA formula is important when calculating your profitability and overall financial performance. But earnings before interest, taxes, depreciation, and amortization (aka EBITDA) hit a snag regarding the specific taxes you should include. And, what taxes you should exclude.
那么，将哪些税添加回EBITDA？而且，您应该从等式中删除哪些税？
EBITDA将哪些税款添加回了什么税？
When you already know the answer toWhat is EBITDA，是时候查看等式中包括的税款了。作为复习，这是EBITDA计算：
EBITDA =收益 +利息 +税收 +折旧 +摊销
企业主缴纳了许多税，包括：
- Income
- Payroll
- Excise
- Self-employment
- Sales
- Use
…And the list goes on. So when it comes to knowing which taxes to include, it’s easy to confuse which taxes you should use in EBITDA.
EBITDA taxes are specifically income taxes, including:
- Federal
- 状态
- Local
请记住，EBITDA计算中的所得税是corporate所得税，而不是雇员的工资收入税。
Why are not all taxes included in EBITDA?
So, why must you only include income taxes and not other taxes in your EBITDA formula? Income taxes are not a part of your company’s overhead or general operating expenses. The other taxes are expenses you must pay regardless of business income or structure.
Another reason you do not include these types of taxes in EBITDA is that most businesses pay these taxes.
For example, you must pay payroll taxes if you have employees. The cost of having employees is an expense that you account for each year. These expenses may fluctuate depending on the number of employees, raises, and other factors. But, the expense of payroll taxes is an overhead cost. Because the taxes are not linked directly to profits, do not include payroll taxes in EBITDA.
On the other hand, corporate profits can vary. As a result, so do thecorporate income taxesyou must pay. Because of the fluctuation in the amount of income tax your business pays, include the cost of these income taxes in your EBITDA calculation.
底线：The taxes linked directly to profits are EBITDA taxes.
在哪里可以找到EBITDA税收信息
Before you sit down to crunch some numbers, you need to know where to find the information needed for EBITDA taxes. You can find your EBITDA taxes on your profit and loss statement (aka P&L statement). Some companies label the specific line in their P&L as “Provisions for Income Taxes” to easily identify the taxes they need for EBITDA.
如果您选择将单个订单项用于所有公司所得税，则仅将该行用于计算的税款部分。想要更清楚地了解所得税成本吗？您也可以将它们分解为不同的订单项，包括：
- 联邦公司所得税
- 国家公司收入
- Local corporate income tax
请记住，将行项分开意味着您必须在等式的“税收”部分中包括所有订单项。，包括国家公司所得税allstates you perform business in. Why? Because you owe state income tax toallstates you do business in.
The role of taxes in EBITDA
那么，为什么要在EBITDA中添加税款，税收在等式中的作用是什么？您将所得税添加回来，以便您的EBITDA方程可以反映您更准确地支付的税款。您支付的税款越多，您的EBITDA就越高。
税收在等式中的作用是使您的公司的EBITDA比率更加与您的企业税率中的其他公司保持一致。
But, there is a catch to adding these taxes back to the equation. That catch is yourbusiness structure.
EBITDA taxes and business structure
同样，无论业务结构如何，您的业务都要征税。不要在EBITDA中包括这些税。但是，如果您的业务有什么pass-through taxation？您是否在计算中包括这些所得税？简而言之，不。
If your business has pass-through taxation, you do not have corporate income tax. So, you do not include income taxes in your equation. Instead, you pay income taxes on your personal income tax returns instead of thebusiness tax returns.
Businesses with pass-through taxation include:
- S corporations
- Sole proprietorships
- Limited liability corporations(LLCs) not taxed as corporations
- Partnerships
没有传递税的业务结构是Ccorporation. C corporations pay income taxes on their business tax returns and personal income tax returns. This method is called double-taxation. As a result, C corporations can include corporate income taxes in their EBITDA formula.
一些有限责任公司选择被征税为公司。当有限责任公司被征税为公司时，它们也会受到双重税收。如果有限责任公司被征税为公司，LLC可以在EBITDA计算中包括业务所得税。
如果您的企业使用通过税收税，则EBITDA方程的税收部分将填充为零。看看一些例子。
Example 1
Let’s say your business is an S corporation with $50,000 in profits, $4,000 in interest, $2,000 in depreciation, and $1,500 in amortization. Because you are an S corporation, you have $0 in taxes. Your equation looks like:
EBITDA= $50,000 + $4,000 + $0 + $2,000 +$1,500
EBITDA = $57,500
Using EBITDA, your company’s valuation is $57,500.
Example 2
In this example, you have the same profits, interest, depreciation, and amortization as Example 1. But, your business structure is a C corporation with $5,000 in business income taxes. Your EBITDA equation looks like:
EBITDA = $50,000 + $4,000 + $5,000 + $2,000 + $1,500
ebitda = $ 62,500
使用你们公司的估值是62500美元EBITDA calculation.