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The Interim Effective Tax Rate report for Interim datasets displays an overview of the reconciliation going from each component at the group rate designated for the dataset and the effective tax rate calculated in the provision calculation. Supporting detail for some calculations can be viewed in this report, while the underlying support for other items is detailed in separate reports. Parameters can change the view of this report.
Provision Items
Report Views
| • | Defaults to the summary and contracted views. |
| • | Rollups are user-defined groupings that allow detail level component data to be consolidated and rolled up to a higher level. Creating and managing rollups for the report occurs in the Administration area. For example, a Rollup may assist in generating the footnote, while another may explain results for management reporting. |
| • | Detail: Displays underlying detail by the selected rollup code or the default rollup by component type. |
| • | Expanded: Displays additional columns for the pre-tax amount, the effect of rates different from statutory, rate changes from period to period, and any deferred-only adjustments that may impact the overall taxable rate for each item. |
| • | Breakout all: On Sub-Consolidated and Consolidated reports, displays underlying unit data that made up the total result. A single column can be expanded by selected Brkout. To collapse data, select Non breakout. Expanded results display on the screen or export to an Excel file, depending on the version and parameter settings. |
| • | Use Unit Tax Rate: On Unit level reports, displays the effective tax rate report, reconciling to the Group Rate selected for the dataset or the Unit's current tax rate. This option displays only in certain versions with a parameter setting. |
Line by Line
| • | Pre-Tax Book Income: Data Input > Actual > Federal > Unit Details > PTBI. |
| • | Impact of Difference in Forecast vs Actual: Accommodates for the difference between the Forecast rate and Actual on Pre-Tax Book Income. PTBI times the Forecast Rate minus PTBI times Actual Rates. |
| • | Effect of Rates Different from Statutory: Accommodates differences in the current tax rates and the dataset's group tax rate, as defined in Administration > Manage Datasets. The difference of the unit current tax rate and the group rate is multiplied by the Pre-Tax Book Income and Permanent Differences to arrive at an adjustment to account for unit rates different from statutory. |
| • | Temporary Differences: Data Input > Actual > Federal > Temporary Differences - Tax Basis. Only amounts entered as Deferred Only or when there was a change in the deferred tax rate. |
| • | Deferred Provision Only Adjustments: Data Input > Unit Details> Actual > Federal > PTBI. |
Column By Column
| • | Effect of Rates Different from Statutory: Accommodates for differences in the current tax rates in that unit’s Unit Details screen and the group tax rate defined by the dataset in Administration > Manage Datasets. If a unit’s current tax rate is different from the group rate, the difference of the unit’s current tax rate and the group rate is multiplied by the unit’s Pre-Tax Book Income and Permanent Differences to accommodate for rates different from statutory. |
| • | Effect Deferred Rate Changes: Provides for the impact of restating beginning deferred balances, if the beginning and ending deferred tax rates found in the unit’s Unit Details screen differ. |
| • | Effect Rate Differences between Current and Deferred: Provides for activity in deferred balances that is rate effected at a current tax rate that differs from the ending deferred tax rate found in the unit’s Unit Details screen. |
| • | Def Only Adj: Displays overrides to deferred tax provision made in the Unit Details – “deferred only adjustment” or any Deferred Only Adjustments entered in the Temporary Differences - Tax Basis, NOL Temporary Differences - Tax Basis, or After Tax Temporary Differences - Tax Basis screens. |
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