Updating The Interim Effective Tax Rate And Inputting Discrete Items
You can adjust values to the interim current and deferred effective tax rates and enter current and deferred discrete items.
ETR and Discrete Items Interim input app (NF0803)
This input app allows you to adjust values to the interim current and deferred effective tax rates and enter current and deferred discrete items.
Tax Provision calculates the Interim ETR After Adjustment based on the following:
| start with | National taxable income/loss before tax adjusted |
|---|---|
plus |
interim adjusted current ETR |
plus |
interim adjusted deferred ETR |
equals |
current tax expense/benefit before discrete items |
plus |
current tax discrete items |
plus |
deferred tax discrete items |
plus |
system deferred tax discrete items |
plus |
valuation allowance |
equals |
total interim provision tax |
divided by |
national taxable income/loss before tax adjusted |
equals |
interim ETR after adjustment |
To update the ETR and Discrete Items Interim input app:
- In the Tax Provision navigation pane, click Data Collection.
- Expand National Interim.
- Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
- Click NF0803 - ETR and Discrete Items Interim.lvapp. The input app opens in the workspace.
- Expand the NatIPETRCUR — Interim Current ETR Adjusted category and enter data for the following accounts:
NatIPETRCURA — Interim Current ETR Adjustment: Input adjustment to the calculated interim current ETR.
- Expand the NatIPETRDFR — Interim Deferred ETR Adjusted category and enter data for the following accounts:
NatIPETRDFRA — Interim Deferred ETR Adjustment: Input adjustment to the calculated interim deferred ETR.
- Expand the NatDscCURT — Total Discrete Items Current Tax category and enter data for the following accounts:
NatDscC00x — Current Tax Impact of One-Time Adjustment: Input discrete adjustments to the current tax.
- Expand the NatIPVaAll — Total National Valuation Allowance category and enter data for the following accounts:
NatValCTIP — National Valuation Allowance - Current: Input current national valuation allowance.
NatValNCTIP — National Valuation Allowance - Non-Current: Input non-current national valuation allowance.
NatValNOLIP — National Valuation Allowance - NOLs: Input net operating loss national valuation allowance.
NatValTaxCrIP — National Valuation Allowance - Credits: Input national valuation allowance credits.
NatValTaxGWIP — National Valuation Allowance - Goodwill: Input goodwill national valuation allowance.
- When you are finished, click Submit.