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This section of Global Access calculates the Return to Provision true-up adjustments. The prior year's provision data is pre-populated in the first column. Once users verify that the data accurately represents the prior year's provision, edit the second (Return) column to reflect the locally filed tax return. The program automatically calculates the Return to Provision true-up amount as users update the Return column.
Pre-Tax Book Income can be modified on the Unit Data page. In addition, users can add an adjustment that was not present at the time of the provision calculation.
Instructions
| • | This section of Global Access computes the Return to the Provision True-Up adjustments. |
| • | The provision is pre-populated under the first column; verify that the pre-populated data represents the prior year's provision. |
| • | Edit the Return column to reflect the locally filed Tax Return. |
| • | Pre-Tax Book income can be modified in the unit data step. |
| • | Once users populate the Return column, the program automatically calculates the difference. |
| • | Click the Post RTP button to post the Return to Provision adjustment. |
Total Pre-Tax Book Income
|
Provision
|
Return
|
Difference
|
|
- Deductible State Tax:
|
298,795,725
|
298,795,725
|
0
|
|
CA: California
|
|
|
|
|
NY: New York
|
13,748,073
|
13,131,632
|
-616,441
|
|
- Total Deductible State Tax
|
2,362,458
|
2,256,765
|
-105,693
|
|
+ Permanent Differences:
|
16,110,531
|
15,388,397
|
-722,134
|
|
P1000: Club Dues
|
|
|
|
|
P10000: Meals and Entertainment
|
71
|
71
|
0
|
Edit
|
P16000: Section 78 Gross-Up
|
0
|
-7,854,157
|
-7,854,157
|
Edit
|
P19000: Subpart F
|
-67,832,250
|
-67,832,250
|
0
|
Edit
|
P6000: Foreign Tax Credit Gross-up
|
-64,817,500
|
-64,817,500
|
0
|
Edit
|
|
182
|
|
|
|
+ Total Permanent Differences
|
0
|
|
|
|
Financial Taxable Income
|
-132,649,497
|
-140,503,654
|
-7,854,157
|
|
+ Temporary Differences:
|
150,035,696
|
142,903,674
|
-7,132,022
|
|
T12000: Amortization of Fees
|
|
|
|
|
T16000: Deferred Compensation
|
368,340
|
368,340
|
0
|
Edit
|
T21000: Inventory Reserve
|
803,957
|
803,957
|
0
|
Edit
|
T27000: Stock Compensation (FAS 123R)
|
260,000
|
260,000
|
0
|
Edit
|
|
7,977,478
|
7,977,478
|
0
|
Edit
|
+ Total Temporary Differences
|
0
|
|
|
|
Federal Taxable Income (Pre-NOL)
|
9,409,775
|
9,409,775
|
0
|
|
+ NOL Reclass:
|
159,445,471
|
152,313,449
|
-7,132,022
|
|
NOL_2001: Net Operating Loss- 2001
|
|
|
|
|
NOL_2002: Net Operating Loss-2002
|
-122,156
|
-122,156
|
0
|
Edit
|
NOL_2003: Capital Loss Carryforward-2003
|
94,198
|
94,198
|
0
|
Edit
|
NOL_SYS: NOL_SYS
|
5,849,955
|
5,849,955
|
0
|
Edit
|
VA_SYS_NOLTD_NC: VA_SYS_NOLTD_NC
|
-28,152,681
|
-28,152,681
|
0
|
Edit
|
|
0
|
0
|
0
|
Edit
|
+ Total NOL Reclass
|
0
|
|
|
|
Federal Taxable Income (Post-NOL)
|
-22,330,684
|
-22,330,684
|
0
|
|
* Unit Tax Rate
|
137,114,787
|
129,982,765
|
-7,132,022
|
|
= Federal Tax-Current
|
35.00%
|
35.00%
|
|
|
+ After Tax Temporary Differences:
|
47,990,175
|
45,493,968
|
-2,496,207
|
|
AMT_SYS: AMT_SYS
|
|
|
|
|
ATD1000: R&D Credit Carryforward
|
0
|
0
|
0
|
Edit
|
|
-115,019
|
-115,019
|
0
|
Edit
|
+ Total After Tax Temporary Differences
|
0
|
|
|
|
+ Cash Tax Adjustments:
|
-115,019
|
-115,019
|
0
|
|
TA1000: Tax Reserves
|
|
|
|
|
|
-186,815
|
-186,815
|
0
|
Edit
|
+ Total Cash Tax Adjustments
|
0
|
|
|
|
Cash Provision
|
-186,815
|
-186,815
|
0
|
|
|
47,688,341
|
45,192,134
|
-2,496,207
|
|
|
These adjustments are posted to the next dataset/current provision. Administrators can make the current, beginning deferred, and/or ending deferred tax rate read-only, or all three fields can be hidden from view by local users. For more information, refer to the Administration section.
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