In the Data Entry list, you can select the State Perm Diffs - Tax Basis component to enter federal and jurisdiction data. In the State Perm Diffs - Tax Basis page, you can refresh, export (informational purposes), print, add, edit, delete, import, export (template), show/hide columns, and filter your Provision, Interim Actual, Interim Forecast, and Estimated Payment data.

 

•There are two types of permanent differences: Equity Adjustments and P&L Adjustments. You can select the appropriate type to achieve the desired provision effect. Enter permanent differences that are applicable for state, but not for federal purposes.

•You can edit only the Attachment, Amount and Note data entry fields.

•To create adjustments using the same state permanent difference code, you can make additional entries using different tag letters or class/subclass combinations.

 

Import Template

To import information to the State Permanent Differences screen, complete the appropriate fields on the #SPM# State Perm Mods sheet in the Import Numbers template.

See Data Entry Import for more information about the State Perm Diffs - Tax Basis data import process.

 

State Perm Diffs - Tax Basis

 

Data Entry Fields

The grid lets you enter amounts and select options from the drop-down lists. You can use the tab key to move between the fields much like an excel worksheet.

The State Perm Diffs - Tax Basis component grid includes the following columns. See Data Table for more information about the grid options.

 

Actions

Actions allow you to supplement the adjustment with detail. Double click to add an attachment.

 

Data source

Data Source enables you to view the Data Source History.

 

Dataset

The Dataset selected in the Base Dataset drop-down list.

 

Unit Code

The Unit Code is established by an Administrator for the State Perm Diffs - Tax Basis.

 

Unit Name

The Unit Name is established by an Administrator for the State Perm Diffs - Tax Basis.

 

Currency Symbol

The Currency Symbol is established by an Administrator for the State Perm Diffs - Tax Basis.

 

Jurisdiction

Jurisdiction lets you select the jurisdiction for the adjustment.

 

Code - Description

The code and description are established by an Administrator for the permanent difference.

 

Type

•Type P results in a current tax provision expense offset in the payable account. The result impacts the overall effective tax rate.

•Type E results in a current tax provision expense offset in the payable account, as well as an equity contra expense that is offset in an equity account. There is no impact on the overall effective tax rate.

 

Tag

The tag letter identifies each line entered to the originating source.

 

Class

The class identifies each line entered in the originating source. The DEF-Default is the default class and assigned in administration.

 

Subclass

The subclass identifies each line description entered in the originating source. You can select Next Value as the subclass and the application generates the next "Code" number for the selected Code, Type and Class. The Default-Default is the default subclass and assigned in administration.

 

Amount

Positive amounts increase and negative amounts reduce taxable income. Amounts should be entered in local currency. They are translated to reporting currency using the unit's weighted average FX rate.

 

Note

You can type notes to supplement the adjustment. You can access a history of the Notes within "Data Source History."