Local Data Entry

Local Data Entry has its own section in Global Access. Users can enter information for a state, a municipality, or a concurrent tax. Local Data Entry is used to calculate taxes under the same basis for different jurisdictions. Examples of local jurisdictions are States in the US, Provinces in Canada, IRAP in Italy, and  Trade Tax in Germany.

Once local jurisdictions are activated and have the proper rates in place, all gross adjustments entered on the National (Federal) level flow down to local jurisdiction calculations. Administrators can set up an adjustment as a National (Federal) only adjustment so that it will not affect the local jurisdiction calculations. This can be done in the Administration section of ONESOURCE Tax Provision. Local NOLs, Local After-Tax Temporary Differences, and Local Tax Adjustments need to be entered on a jurisdiction-by-jurisdiction basis. In addition, adjustments to a national gross permanent or temporary difference can be made under a local jurisdiction.

When a local jurisdiction has been activated, and Corporate provides access to local users, the Local Data Entry menu appears. A drop-down menu lists all local jurisdictions assigned to users. If users need to have local jurisdictions activated under the units for which users are responsible, notify Corporate.

Unless permanent and temporary differences are created as National (Federal) Only adjustments, they flow down from the national level to the local provision calculation automatically. Users can adjust them under the local calculation by entering Local Permanent Differences, and Temporary Differences. Users can also create adjustments that affect only local calculations. Among these items are Local NOLs, Local Tax Adjustments and Local After-Tax Temporary Differences.

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