XML 58 R19.htm IDEA: XBRL DOCUMENT v3.20.1
Provision for Income Taxes
6 Months Ended
Jan. 31, 2020
Income Tax Disclosure [Abstract]  
Provision for income taxes

Note 13—Provision for Income taxes

 

The change from a benefit to a provision for income taxes in the three months ended January 31, 2020 compared to the corresponding period in fiscal 2019 was primarily due to the change from a net loss in the fiscal 2019 period to net income in the current year period and the jurisdiction in which the income was generated, and the Company's ability to utilize net operating losses the Company holds in those jurisdictions. There is no change for the provision for income taxes for the six months ended January 31, 2020 compared to the corresponding periods in fiscal 2019. The tax expense consists of minimum state taxes based on allocated net worth.

 

As part of the Tax Cuts and Jobs Act of 2017, Global Intangible Low-Taxed Income inclusion (GILTI) and Foreign Derived Intangible Income (FDII) deduction became effective on January 1, 2018.  There was no impact to income tax expense resulting from the GILTI and FDII in light of the Company's available NOL carry forward and its full valuation allowance.