The Forecast Rate report for Interim datasets displays an overview of the calculation of the Federal and State forecast rate. It uses the information entered for each component in the Forecast section. The rate calculated in this report carries over to the Tax Provision report for Interim datasets. Selecting an amount with a hyperlink opens a supporting report.

---

Note: When exporting to Excel, create sub-consolidations of a maximum 250 units and export to Sub-consolidated reports for the report to spill over to additional sheets.

---

 

Provision Items

•Total Tax Provision

•Forecasted Effective Tax Rate

 

Report Views

•Defaults to the Foreign-Domestic and summary views.

•The Unit Breakout option displays the underlying unit-by-unit column detail.

•The Q1-Q2 Variance view displays a comparison of the total forecasted rate at Quarter 2 with Quarter 1. The Q2-Q3 Variance view displays a comparison of the total forecasted rate at Quarter 3 with Quarter 2.

•The View Overview option rolls up the report to display the Pre-Tax Book Income - Annual Estimate, the Total Tax Provision, and the Forecasted rate for the Federal and State information.

•The View Summary option displays the report with component level information.

•The View Detail option displays the report with line-by-line level information.

 

Line By Line

•Pre-Tax Book Income - Annual Estimate: Data Entry > Interim Unit Details.

•Deductible State Tax: Current state tax provision from the calculation at the bottom of the report times the federal deductible rates entered for states.

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

•Temporary Differences: Data Entry > Temporary Differences - Tax Basis.

•NOL Reclass: Data Entry > NOL Temporary Differences - Tax Basis.

•Federal Taxable Income (Post-NOL): Sum of Pre-Tax Book Income - Annual Estimate, Deductible State Tax, Permanent Differences, Temporary Differences, and NOL Reclass lines.

•Unit Tax Rate: My Datasets > Units > More > Interim Unit Details. Only displays at the Unit reporting level.

•Federal Tax - Current: Federal Taxable Income (Post-NOL) times the current unit tax rate(s).

•After Tax Temporary Differences: Data Entry > After Tax Temporary Differences - Tax Basis.

•Cash Tax Adjustments: Data Entry > Tax Adjustments. Only "cash" items with codes that do not start with NC_.

•Non-Cash Tax Adjustments: Data Entry > Tax Adjustments. Only "non-cash" items with codes that start with NC_.

•Federal Current Provision: Sum of Federal Tax - Current, After Tax Temporary Differences, Cash Tax Adjustments, and Non-Cash Tax Adjustments.

•Deferred Tax Provision: Begin Deferred Tax Per B/S plus Bal Sheet Only Adjustment minus Ending Deferred Tax Per B/S plus CTA and Deferred Provision Only lines.

•Equity Adjustment: Data Entry > Permanent Differences. Reversal of the impact to the current provision for Equity Adjustment Permanent Differences.

•Total Federal Provision: Sum of the Total Current Provision, Deferred Tax Provision, and Equity Adjustment lines.

•Federal Forecasted Rate: Total Federal Provision divided by Pre-Tax Book Income - Annual Estimate.

•Pre-Tax Book Income - Annual Estimate: Data Entry > Interim Unit Details.

•Permanent Differences Includable for State: Data Entry > Permanent Differences and InterCompany Transaction Entry.

•Modifications: Data Entry > State Permanent Differences.

•Temporary Differences Includable for State: Data Entry > Temporary Differences - Tax Basis.

•Allocable Income: Sum of Pre-Tax Book Income- Annual Estimate, Permanent Differences, and Temporary Differences.

•Apportionment Rate: My Datasets > Units > Jurisdictions > Edit > Apportionment PCTS.

•Apportioned Income (Pre-NOL): Allocable Income times Apportionment Rate.

•NOLs: Data Entry > State After Apportionment Temporary Differences - Tax Basis.

•Apportionable Income: Sum of Apportioned Income (Pre-NOL) and NOLs.

•State Tax Rate: My Datasets > Units > Jurisdictions > Edit > Tax Rates. Only displays at the Unit reporting level.

•Tax Before Credits: Apportionable Income times State Tax Rate.

•After Tax State Temporary Differences: Data Entry > State After Tax Temporary Differences - Tax Basis.

•Cash State Tax Adjustments: Data Entry > State Tax Adjustments. Only cash items with codes that do not start with NC_.

•Non-Cash State Tax Adjustments: Data Entry > State Tax Adjustments. Only non-cash items with codes that start with NC_.

•Current State Provision: Tax Before Credits, After Tax State Temporary Differences, Cash State Tax Adjustments, and Non-Cash State Tax Adjustments.

•Deferred State Tax Provision: Begin Deferred Tax Per B/S plus Bal Sheet Only Adjustment minus Ending Deferred Tax Per B/S plus CTA and Deferred Provision Only lines.

•State Equity Adjustment: Data v > Permanent Differences. Reversal of the impact to the current provision for Equity Adjustment Permanent Differences.

•Total State Tax Provision: Sum of the Total Current State Provision, Deferred State Tax Provision, and State Equity Adjustment lines.

•State Forecast Rate: Total State Tax Provision divided by Pre-Tax Book Income - Annual Estimate.