Available only at the sub-consolidated level for Provision datasets, the Effective Tax Rate Breakout report displays a detail and summarized view of all the components at the group rate selected for the dataset and the effective tax rate calculated in the provision calculation.

 

Provision Items

•Total Tax Provision

•Effective Tax Rate

 

Report Views

•Default: to summary and contracted views

•Detail: Displays underlying detail by component types, tax effect, rate effect calculations.

•Expanded: Displays additional columns for the pre-tax amount, the effect of rates different from statutory, rate changes from period to period, and any deferred-only adjustments that may impact the overall taxable rate for each item.

•Use Blended Rate: The report displays the effective tax rate report, reconciling to the Group Rate selected for the dataset or the Unit's current tax rate. The reconciliation starts either with PTBI at the Blended rate of the underlying units in the sub-consolidation.

•Use Group Tax Rate: The report displays the effective tax rate report, reconciling to the Group Rate selected for the dataset.

•State Breakdown: Displays the effective tax rate report, reconciling to the Group Rate. It displays specific state differences components, as well as federal.

•Breakout All: This view shows the breakdown of the components of all the units included in the sub-consolidation.

 

Line by Line

•Pre-Tax Book Income: Data Entry > PTBI.

•FX Adjustment: The Pre-Tax Book Income (local) divided by Weighted average FX rate subtracted from Pre-Tax Book Income (reporting).

•State and Local Income Taxes: Provision from State Summary - Provision Summary plus the Federal Benefit of State impact.

•Effect of Rates Different from Statutory: Accommodates differences in the current tax rates and the dataset's group tax rate, as defined in Administration > Manage Datasets > Datasets. The difference of the unit current tax rate and the group rate is multiplied by Pre-Tax Book Income and Permanent Differences to arrive at an adjustment to account for unit rates different from statutory.

•Permanent Differences: Data Entry > Permanent Differences and InterCompany Transaction Entry.

•Temporary Differences: Data Entry > Temporary Differences - Tax Basis and Temporary Difference - Book/Tax Basis. Only amounts entered as Deferred Only or when there was a change in the deferred tax rate.

•NOLs: Data Entry > NOL Temporary Differences - Tax Basis. Only amounts entered as Deferred Only or when there was a change in the deferred tax rate.

•Cash Tax Adjustments: Data Entry > Tax Adjustments.

•After Tax Temporary Differences: Data Entry > After Tax Temporary Differences - Tax Basis and After Tax Temporary Differences - Book/Tax Basis. Only amounts entered as Deferred Only.

•Deferred Provision Only Adjustments: My Datasets > Units > More > Rates.

 

Column By Column

•Effect of Rates Different from Statutory: Accommodates for differences in current tax rates in the unit’s Unit Details screen and the group tax rate defined by the dataset in Administration > Manage Datasets > Datasets. If a unit’s current tax rate is different from the group rate, the difference of the unit’s current tax rate and the group rate is multiplied by the unit’s Pre-Tax Book Income and Permanent Differences to accommodate for rates different from statutory.

•Effect Deferred Rate Changes: Provides for the impact of restating beginning deferred balances, if the beginning and ending deferred tax rates found in the unit’s Unit Details screen differ.

•Effect Rate Differences between Current and Deferred: Provides for activity in deferred balances that is rate effected at a current tax rate that differs from the ending deferred tax rate found in the unit’s Unit Details screen.

•Deferred Provision Only Adjustments: Displays overrides to the deferred tax provision made in the Unit Details – “deferred only adjustment” or any Deferred Only Adjustments entered in the Temporary Differences - Tax Basis, NOL Temporary Differences - Tax Basis, or After Tax Temporary Differences - Tax Basis screens.