You can manage the Jurisdiction Tax Rate information for Provision, Estimated Payments and Interim datasets in the Tax Rates section of the Activated Jurisdictions page.

 

To enter your tax rate data select My Datasets > Units > Jurisdictions > Activated Jurisdictions > Edit > Tax Rates.

•Type Tax Rates for the unit selected. The State Tax Rate is applied to the apportioned current state taxable income.

•The Beginning Deferred Rate is applied to the apportioned deferred state temporary differences.

•The Ending Deferred Rate is applied to the apportioned deferred state temporary differences.

 

Calculations

•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.

 

Importing Tax Rates

•To import information for the Tax Rates section, complete the appropriate fields on the #S# States worksheet in the Import Numbers template.

•To update the Current and Deferred Tax rates for a single state across either a single unit or multiple units in a Sub-consolidation, complete the appropriate fields on the #SRATES# State Rates worksheet in the Import Update Rates template. If the #SRATES# worksheet is not functional, sort the #S# States sheet in the Import Numbers template by state and update as needed.