Entering Tax Rates
The Tax Rates form contains the national and regional tax and apportionment rates needed by the system to compute the national and regional provision for a specific entity.
To enter tax rates:
- From the Home page, select Tax Provision National, and then Package.
- On the form, select the Tax Rates tab.
- Optional: Click Edit Members to set the Point of View by selecting members for the Scenario, Year, Period, and Entity dimensions.
You will see a row for the national domicile of the selected entity and any regions, if applicable. By default the income tax provision will not be calculated for any regional jurisdictions.
- Under the Active Region Flag column, select Active to activate the tax provision calculation for that region for the selected entity member.
Tip:
In order for data to flow correctly between National and Regional Jurisdictions, you must set the Active Region Flag for each active Jurisdiction in the Tax Rates to Active. - Enter the tax rate for each type.
You must enter the tax percentage rate in a decimal format, and then click Enter. For example, enter .05 to display 5%.
- Click Save.
- Consolidate the entity to apply the modified tax rates, and use the new rates in the tax provision.