|
Throughout the Local Data Entry section, we will refer to Table A to explain data entry pages for local jurisdictions. The following scenarios provided portray various Local Jurisdiction calculations:
| • | Assumptions for Scenario 1 - The same perms and temps are included for the national and local tax calculations. There are no specific adjustments to the local calculation. One hundred percent of the local tax is deductible for national. |
| • | Assumptions for Scenario 2 - There are adjustments for perms and temps under the local calculation, and 0% of the local tax is deductible for National. |
| • | Assumptions for Scenario 3 - A loss has occurred and two separate NOL temporary difference items have been set up for national and local calculations. |
|
Scenario 1
|
Scenario 2
|
Scenario 3
|
Component
|
National (calc)
|
Local (calc)
|
National (calc)
|
Local (calc)
|
National (calc)
|
Local (calc)
|
PTBI
|
100,000
|
100,000
|
100,000
|
100,000
|
-100,000
|
-100,000
|
Local Deduct
|
-5,600
|
|
0
|
|
0
|
|
|
|
|
|
|
|
|
Perms
|
25,000
|
25,000
|
25,000
|
15,000
|
25,000
|
15,000
|
|
|
|
|
|
|
|
Temps
|
-13,000
|
-13,000
|
-13,000
|
7,000
|
-13,000
|
7,000
|
|
|
|
|
|
|
|
NOL Temps
|
|
|
|
|
88,000
|
78,000
|
|
|
|
|
|
|
|
Taxable Income
|
106,400
|
112,000
|
112,000
|
122,000
|
0
|
0
|
|
|
|
|
|
|
|
Tax Rate
|
15%
|
5%
|
15%
|
5%
|
15%
|
5%
|
|
|
|
|
|
|
|
Tax
|
15,960
|
5,600
|
16,800
|
6,100
|
0
|
0
|
|
|
|
|
|
|
|
Total Tax
|
21,560
|
22,900
|
0
|
|
