An example of a Safe Harbor statement typically given when publishing a company`s profits is this statement from Oracle:[3] For this reason, taxpayers had to look at a long list of requirements to determine which category their expenses fall into, and the process was confusing. To avoid confusion, the IRS created a Safe Harbor accounting policy for eligible retail and restaurant businesses. Safe Harbor may also refer to an accounting policy that avoids legal or tax regulations, or that allows for a simpler method of determining a tax consequence than the methods described by the exact language of the tax code. Essentially, these companies can now choose whether their conversion costs fall into the categories of repair or capitalized improvement. Because of this safe haven, companies don`t have to worry about accidentally making the wrong choice and being punished for it later. Under U.S. law, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, companies must comply with reporting standards that limit risk factors. These laws were introduced in part to protect investors from ambiguous language and to prevent them from making a misinformed investment decision based on speculative statements. Our discussion may include predictions, estimates or other information that could be considered forward-looking. Although these forward-looking statements represent our current assessment of what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially.
We caution you not to place undue reliance on these forward-looking statements, which reflect only our views as of the date of this submission. Please note that we assume no obligation to revise or publicly disclose the results of any revisions to these forward-looking statements as a result of new information or future events. During today`s discussion, we will try to present some important factors related to our business that can influence our forecasts. You should also read our latest Forms 10-K and 10-Q for a more complete discussion of these and other risks, particularly under the heading „Risk Factors“. A PDF copy of our press release and financial tables containing a reconciliation of GAAP to non-GAAP can be viewed and downloaded from Oracle`s Investor Relations website at Oracle.com/investor. Safe Harbor 401(k) plans include simple alternative methods to meet non-discrimination requirements. These retirement accounts, created by the Small Business Employment Protection Act of 1996, were created in response to the fact that many companies did not put in place 401(k) plans for their employees because non-discrimination policies were too difficult to understand. These 401(k) plans give the employer a safe haven from compliance concerns by providing a simplified product. To illustrate a safe haven accounting method that helps a tax return comply with tax regulations, suppose a company loses money and therefore cannot claim an investment loan.
It transfers the loan to a company that is profitable and can claim the loan. The profitable business leases the asset to the unprofitable business and passes on the tax savings. Similarly, individuals with websites can use a safe harbor provision to protect themselves from copyright infringement based on comments on their websites. A safe harbor is a legal provision designed to circumvent or eliminate legal or regulatory liability in certain situations, provided certain conditions are met. In U.S. business law, a forward-looking statement or safe harbor statement is a statement that cannot be considered mere historical fact. Forward-looking statements predict, predict or use future events as expectations or opportunities. These statements can often be misleading, as they can be mistaken for statements of fact when in fact they are speculation.
Pursuant to U.S. Code 15 §78u-5, forward-looking statements may include future economic performance such as revenues or revenues, plans for future operations, or the use of a report prepared by an external auditor. [1] [2] Sentences and sentences are forward-looking statements if they contain a time from present to future or similar expression. Words such as „believe“, „estimate“, „anticipate“, „plan“, „predict“, „may“, „hope“, „may“, „will“, „should“, „expect“, „likely“, „is likely“, „intend“, „designed“, „with intent“, „potential“, the negative of these words or other variations thereof, or comparable terminology, may indicate forward-looking statements, but their absence does not imply that any statement is forward-looking. Any unpublished services, features, functionality, or enhancements referenced in a document, roadmap, blog, website, press release, or Workday public statement that are not currently available are subject to change at Workday`s discretion and may not be provided as intended or at all. Customers who purchase our apps should make their purchasing decisions based on the features and functionality currently available. .
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