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Tax Rates

You can enter the
TAX RATES
 information in the
Activated Jurisdictions
 page. The system applies the state rates to the apportioned current state taxable income as well as the state beginning and ending temporary differences.
To enter your tax rates:
  1. Select
    My Datasets > Units > Jurisdictions > Activated Jurisdictions > Edit > TAX RATES
    .
  2. Type your
    State Tax Rate
    ,
    Beginning Deferred Rate
    ,and
    Ending Deferred Rate
    .
When setting up 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. You can find support for the calculated adjustment as a separate column in the
    Deferred Balances
     report.
  • 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. You will see the impact of the rate difference in the
    Effective Tax Rate
     report.
To import information for the TAX RATES , complete the appropriate fields on the
#S# States
 worksheet in the Import Numbers template.

This article applies to:

  • PRODUCT: ONESOURCE Tax Provision