INCOME TAXES

9 Months Ended

Sep. 30, 2013

13.

INCOME TAXES

Blackstone’s effective tax rate was 11.1% and 16.6% for the three months ended September 30, 2013 and 2012, respectively, and 10.5% and 14.4% for the nine months ended September 30, 2013 and 2012, respectively. Blackstone’s income tax provision was $57.5 million and $39.2 million for the three months ended September 30, 2013 and 2012, respectively, and $164.6 million and $119.3 million for the nine months ended September 30, 2013 and 2012, respectively.

Blackstone’s effective tax rate for the three and nine months ended September 30, 2013 and 2012 was substantially due to the following: (a) certain corporate subsidiaries are subject to federal, state, local and foreign income taxes as applicable and other subsidiaries are subject to New York City unincorporated business taxes, and (b) a portion of compensation charges are not deductible for tax purposes.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details