Download ONESOURCE TAX PROVISION

ONESOURCE ®
ONESOURCE TAX PROVISION
CHAPTER 5: REPORTING
Line by Line
Pre-Tax Book Income: Data Entry > Tax Provision GAAP – STAT > Unit Details > PTBI.
Deductible State Tax: Current state tax provision (from State Summary - Provision Summary)
after apply each unit/state's Current Federal Deductibility rates.
Permanent Differences: Data Entry > Tax Provision GAAP – STAT > Permanent Differences and
InterCompany Transaction Entry with the designated GAAP to STAT tag letter.
Financial Taxable Income - Sum of Pre-Tax Book Income, Deductible State Tax and Permanent
Differences lines.
Temporary Differences: Data Entry > Tax Provision GAAP – STAT > Temporary Differences Tax Basis and Temporary Differences - Book/Tax Basis with the designated GAAP to STAT tag
letter. Only amounts entered as Activity. Deferred Only and Balance Sheet Only entries do not
impact the current tax provision calculation.
Federal Taxable Income (Pre-NOL): Sum of Financial Taxable Income and Temporary
Differences lines.
NOL Reclass: Data Entry > Federal > NOL Temporary Differences - Tax Basis. Only amounts
entered as Activity. Deferred Only and Balance Sheet Only entries do not impact the current tax
provision calculation.
Federal Taxable Income (Post-NOL): Sum of Taxable Income (Pre-NOL) and NOL Reclass lines.
Unit Tax Rate: Data Entry > Tax Provision GAAP – STAT > Unit Details. Only displays at the
Unit reporting level.
Federal Tax - Current: Taxable Income (Post-NOL) times the current unit tax rate(s).
After Tax Temporary Differences: Data Entry > Tax Provision GAAP – STAT > After Tax
Temporary Differences - Tax Basis and After Tax Temporary Differences - Book/Tax Basis. Only
amounts entered as Activity. Deferred Only and Balance Sheet Only entries do not impact the
current tax provision calculation.
Cash Tax Adjustments: Data Entry > Tax Provision GAAP – STAT > Tax Adjustments. Only
"cash" items with codes that do not start with NC_.
Return Basis Provision: Sum of Federal Tax - Current, After Tax Temporary Differences and
Cash Tax Adjustments.
Non-Cash Tax Adjustments: Data Entry > Tax Provision GAAP – STAT > Tax Adjustments.
Only "non-cash" items with codes that start with NC_.
Total Current Federal Provision: Sum of Cash Provision and Non-Cash Tax Adjustments.
Begin Deferred Tax Per B/S: Deferred Balances report Total Beginning Balance column with the
Fed view option
Bal Sheet Only Adjustment: Data Entry > Tax Provision GAAP – STAT > Temporary Differences
- Tax Basis, Temporary Differences - Book/Tax Basis, NOL Temporary Differences - Tax Basis
times the appropriate rates plus Tax Provision GAAP – STAT > After Tax Temporary Differences
- Tax Basis and After Tax Temporary Differences - Book/Tax Basis. Only amounts entered as
Balance Sheet Only entries do not impact the current tax provision calculation.
Ending Deferred Tax Per B/S: Deferred Balances report Total Ending Balance column with the
Fed view option.
CTA: Deferred Balances report Total CTA column with Fed or Fed+FBOS and Expanded
(income statement) view options.
Deferred Provision Only: Data Entry > Tax Provision GAAP – STAT > PTBI.
Deferred Tax Provision: Begin Deferred Tax Per B/S plus Bal Sheet Only Adjustment minus
Ending Deferred Tax Per B/S plus CTA and Deferred Provision Only lines.
Equity Adjustment: Data Entry > Tax Provision GAAP – STAT > Permanent Differences.
Reversal of the impact to the current provision for Equity Adjustment Permanent Differences.
Total Federal Provision: Sum of the Total Current Provision, Deferred Tax Provision, and Equity
Adjustment lines.
Total State Provision: Total State Tax Provision (from State Summary - Provision Summary) .
Total Tax Provision: Sum of the Total Federal Provision and Total State Provision.
Effective Tax Rate: Total Tax Provision divided by Pre-Tax Book Income.
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