The major purpose of ASC 740 (SFAS 109)is to match current-year GAAP income with its corresponding tax expenses.

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The major purpose of ASC 740 (SFAS 109) is to provide guidance on accounting for income taxes and to require companies to recognize the current and future tax impact of transactions in their financial statements, in order to match current-year GAAP income with its corresponding tax expenses.

The Major Purpose of ASC 740 (SFAS 109)is to Match