In the Unit Rates page, you can enter the following rates.

 

Current Tax Rate

Type the Current Tax Rate

 

Beginning Deferred Rate

Type the Beginning Deferred Rate

 

Ending Deferred Rate

Type the Ending Deferred Rate

 

Unit Tax Rates

•The current and deferred tax rates for the specified unit are used for all unit specific reports and are taken into account for Federal Benefit of State (FBOS) calculations when working with state data.

 

•If the Beginning and Ending Deferred Tax rates differ for a unit the system automatically calculates any necessary change in rate adjustment on the beginning temporary difference balances. Support for the calculated adjustment displays in the deferred balances report as a separate column.

 

•If the Current Tax rate and the Ending Deferred Tax rate differ for the unit, the system automatically calculates the necessary impact of the rate difference for activity entered for temporary differences. The impact of the rate difference can be viewed in the Effective Tax Rate report.

 

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Note:  The administrator has the ability to lock the Beg, End, Beg Deferred, and FX Rates.

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