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Reports

Interim Tax Provision

The Interim Tax Provision report for an Interim dataset creates an overview of the provision calculation using Interim methodology. You can view supporting detail for some calculations in this report, while underlying support for other items are in separate reports. Parameters can change the view of this report.
note
When exporting to Excel, create sub-consolidations of a maximum 250 units and export to Sub-consolidated reports for the report to spill over to additional sheets.

Provision Items

  • Current Federal Tax Expense
  • Deferred Federal Tax Expense
  • State Tax Expense
  • Equity Offset to Current Expense
  • Total Tax Provision
  • Effective Tax Rate

Report Views

  • Defaults to a summarized view of report details.
  • View detail: Displays available underlying detail.
  • Unit breakout: In sub-consolidated and consolidated reports, details the unit-by-unit breakout. Displays in the page or exports to an Excel file, depending on the version and parameter settings.

Line by Line

  • Pre-Tax Book Income: Data Entry > PTBI.
  • Forecast Rate: My Datasets > Units > More > Rates > Forecast Rate.
  • PTBI at Forecast Rate: Pre-Tax Book Income times Forecast Rate.
  • Deductible State Tax: Cash Discretes provision after applying each unit/state's Current Federal Deductibility rates.
  • Permanent Differences: Data Entry > Permanent Differences and InterCompany Transaction Entry.
  • Temporary Differences: Data Entry > Temporary Differences - Tax Basis. Only amounts entered as Activity. Deferred Only and Balance Sheet Only entries do not impact the current tax provision calculation.
  • NOL Reclass: Data Entry > NOL Temporary Differences - Tax Basis. Only amounts entered as Activity. Deferred Only and Balance Sheet Only entries do not impact the current tax provision calculation.
  • Discretes Pre Rate: Sum of Deductible State Tax, Permanent Difference, Temporary Differences, and NOL Reclass lines.
  • Unit Tax Rate: My Datasets > Units > More > Interim Unit Details > Rates. Only displays at the Unit reporting level.
  • Discretes at Actual Rate: Discretes pre Rate times the current unit tax rate(s).
  • After Tax Temporary Differences: Data Entry > After Tax Temporary Differences - Tax Basis. Only amounts entered as Activity. Deferred Only and Balance Sheet Only entries do not impact the current tax provision calculation.
  • Cash Tax Adjustments: Data Entry > Tax Adjustments. Only cash items with codes that do not start with NC_.
  • Cash Discretes: Sum of Discretes at Actual Rate, After Tax Temporary Differences, and Cash Tax Adjustments.
  • Cash Provision: Sum of PTBI at Forecast Rate and Cash Discretes.
  • Non-Cash Tax Discretes Adjustments: Data Entry > Tax Adjustments. Only non-cash items with codes that start with NC_.
  • Total Current Federal Provision: Sum of Cash Provision and Non-Cash Tax Discrete Adjustments.
  • Begin Deferred Tax Per B/S: Deferred Balances report Total Beginning Balance column with the Fed view option.
  • Balance Sheet Only Adjustment: Data Entry > Temporary Differences - Tax Basis and NOL Temporary Differences - Tax Basis times the appropriate rates plus Data Entry > After Tax Temporary Differences - Tax Basis. Only amounts entered as Balance Sheet Only entries do not impact the current tax provision calculation.
  • Ending Deferred Tax Per B/S: Deferred Balances report Total Ending Balance column with the Fed view option.
  • CTA: Deferred Balances report Total CTA column with Fed or Fed+FBOS and Expanded (income statement) view options.
  • Deferred Provision Only: My Datasets > Units > More > Rates.
  • Deferred 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.
  • Equity Adjustment: Data Entry > Permanent Differences. Reversal of the impact to the current provision for Equity Adjustment Permanent Differences.
  • Total Federal Provision: Sum of the Total Current Provision, Deferred Tax Provision and Equity Adjustment lines.
  • Total State Provision: Total State Tax Provision (from State Summary - Provision Summary).
  • Total Tax Provision: Sum of the Total Federal Provision and Total State Provision.
  • Effective Tax Rate: Total Tax Provision divided by Pre-Tax Book Income.

This article applies to:

  • Product: ONESOURCE Tax Provision