Which taxes do you add back and which do you not for EBITDA?
While looking through CIMs, I see EBITDA calculated a few different ways with respect to taxes and wondered how you all approach it and what's appropriate?
I've seen payroll tax added back to EBITDA, for example, which feels inappropriate to me. Payroll tax is essentially a required cost for any employee so I'd think of it more as COGS or OpEx. What do you think?
