Local Currency Approach

Line by Line

•Taxable Income (Before NOL Reclass): Tax Provision Report - Federal Taxable Income (Pre-NOL) line.
•AMT Pre-Tax Adjustments: Unit Details AMT Automation - AMT Adjustments.
•Alternative Minimum Taxable Income (AMTI): Sum of Taxable Income (Before NOL Reclass) and AMT Pre-Tax Adjustments.
•AMT Tax Rate (or max): Unit Details AMT Automation - AMT Tax Rate.
•AMT Tax (Pre-Credits): AMTI times AMT Tax Rate.
•AMT Credits: Unit Details AMT Automation - AMT After Tax Adjustments.
•AMT Tax: Sum of AMT Tax (Pre-Credits) and AMT Credits.
•Cash Provision (Before NOL, AMT Reclass): Tax Provision Report - Cash Provision line minus the NOL Reclass and any AMT reclass in the After Tax Temporary Difference line.
•AMT Reclass: If the AMT Tax line is greater than the Cash Provision (Before NOL, AMT Reclass) line, the difference is recorded. It is posted to the tax provision as a tax adjustment increasing the provision, and as a reclass to an After Tax Temporary Difference.

 

Column by Column

•A single column displays the calculation for the unit of the filing group.