The Forecast State Rate report in the Interim dataset displays an overview of the calculation of the State Forecast rate. It uses information entered for each component in the Forecast section. The rate calculated in this report carries over to the Tax Provision report in the Interim dataset.

 

Provision Items

•Total Tax Provision

•Forecast Effective Tax Rate

 

Report Views

•Defaults to the Foreign-Domestic and Summary views.

•Unit Breakout: Displays the underlying unit-by-unit column detail.

•Q1-Q2 Variance: 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.

•View Overview: Rolls up the report to display the Pre-Tax Book Income - Annual Estimate, the Total Tax Provision, and the Forecasted Rate for Federal and State information.

•View Summary: Displays the report with component level information.

•View Detail: Displays the report with line-by-line level information.

 

Line by Line

•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.

•Weighted Allocable Income: Sum of Pre-Tax Book Income- Annual Estimate, Permanent Differences, and Temporary Differences weighted by the number of states activated.

•Total Allocable Income All States: 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. Displays only 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 Entry > 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 Forecasted Rate: Total State Tax Provision divided by Pre-Tax Book Income - Annual Estimate.