9. Taxes

ORA and Southwest agree that the effective federal income tax rate should be 35%, and should reflect any tax effects of the Job Creation and Worker Assistance Act of 2002 (JCWA of 2002).64 Our adopted taxes include the effects of the 2002 JCWA, and a tax rate of 35%.

64 Southwest states that the JCWA will reduce the tax base on which income taxes are calculated.

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