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Note 17. Subsequent Event
3 Months Ended
Nov. 30, 2012
Subsequent Events [Text Block]
17. SUBSEQUENT EVENT

On January 1, 2013, the U.S. Congress passed the American Taxpayer Relief Act of 2012 (the “ACT”), which President Obama signed into law on January 2, 2013.  The ACT averts the immediate tax concerns with the fiscal cliff and delays the mandatory U.S. government spending cuts known as sequestration. While the ACT did not change corporate tax rates, it did reenact the U.S. Federal R&D tax credit, which had previously expired on December 31, 2011. The reenactment of the credit was retroactive to January 1, 2012 and extends through the end of the 2013 calendar year. Prior to the reenactment of the tax credit, FactSet had not been permitted to factor it into its effective tax rate because it was not currently enacted tax law. The reenactment is expected to result in discrete income tax benefits between $4.5 million and $5.0 million during the second quarter of fiscal 2013.