Current Provision Regional
The Current Provision Regional calculation is as follows:
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NIBT—Automatically populated from the income statement loaded into the system plus/minus
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NIBT Total Book Adjustment—Generally manual adjustments or automated amounts
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NIBT Total Book Reclass—Generally manual adjustments or automated amounts
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Net Income Before Tax—Also the starting point for the effective tax rate report. The following items are then added to or subtracted from this balance:
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Total Permanent Differences (GAAP to Stat)—Combination of automated and manual amounts plus/minus
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Total Temporary Differences (GAAP to Stat)—Combination of automated and manual amounts equals
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Local Statutory Net Income Before Tax—Plus/minus
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Total Permanent Differences (Stat to Tax)—Combination of automated and manual amounts plus / minus
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Total Temporary Differences (Stat to Tax)—Combination of automated and manual amounts equals
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Deductible Income Tax—Combination of automated and manual amounts depending on the nature of the deductible taxes equals
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Taxable Income Before Loss—Plus/minus
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Tax Losses—Automated based on the jurisdictional setting and manual input in the current provision input schedules plus/minus
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Special Deductions—Automated based on the jurisdictional setting and manual input for dividends received deduction or other items equals
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Regional Taxable Income after National Loss and Special Deduction—Plus
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Deductible Income Tax Reversal—Equals
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Regional Tax Base—Plus
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Total Regional Permanent Differences—Plus
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Regional Tax Deduction—Plus
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Total Regional Temporary Differences—Equals
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Regional Taxable Income before Apportionment—Times
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Apportionment Rate—Equals
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Regional Apportioned Income—Plus
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Regional Apportionment Adjustments—Plus
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Regional Tax Losses—Equals
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Regional Taxable Income—Times
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Regional Tax Rate—Equals
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Regional Current Tax on Taxable Income—Plus
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Regional Total Tax Credits—Equals
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Regional Current Tax per Return—Plus
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Regional Provision Items—Combination of automated and manual adjustments on a tax-effected basis equals
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Regional Current Provision
The form contains the following members in the columns (across):
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CYSys—Current Year System—Current year book-tax difference automated in the current provision. This amount automatically flows to the temporary difference rollforward. Amounts for this column are automated and impact the current tax expense.
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CYAdj — Current Period Adjustment—Current year book-tax difference adjustments input in the current provision. This amount automatically flows to the temporary difference rollforward. Amounts for this column are automated and impact the current tax expense.
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CY—Current Period Total—The sum of CYSys and CYAdj.