National Deferred Tax Row Headings
The following entries are listed down the rows displayed on the National Deferred Tax form:
Table 11-5 National Deferred Tax Row Headings
Category | Subcategory | Description and Subcategories |
---|---|---|
Total Temporary Differences (GAAP to Stat) |
User-defined upon implementation. |
|
Total Temporary Differences (Stat to Tax) |
User-defined upon implementation. |
|
Total Temporary Differences |
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Total National Tax Losses |
Used for Tax Losses that are deferred. These are system-defined, and two accounts are provided: Current Year and Carryforward. |
|
Total National Tax Losses - Carryforward Automated |
||
Total Tax Credits Carryforward |
The parent of system-provided base accounts that are used for Tax Credits that are deferred. |
|
Tax Credit |
||
General Business Credit |
||
Jobs Credit |
||
Total Tax Attributes |
User-defined upon implementation. Amounts are generally entered on a tax-effected basis in the temporary difference rollforward and are considered adjustments to deferred tax. |
|
Deferred Tax Contingency |
||
National Tax Attribute 2 |
||
Total National temporary Differences, Losses, Credits and Attributes |
||
Total Valuation Allowance |
This category is used to record valuation allowances against assets as required. Three accounts are provided: Noncurrent, Credits, and TaxLoss. Credits are entered on a tax-effected basis, while amounts entered in the other accounts are entered on a pretax basis. The form also provides the classification of deferred tax assets and liabilities as follows:
|
|
Valuation Allowance - Non Current |
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Valuation Allowance - Tax Losses |
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Deferred Tax National |
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Total Regional Temporary Differences |
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Total Regional Tax Losses |
This category is used for regional Tax Losses that are deferred. These are system-defined, and two accounts are provided: Current Year and Carryforward. Carryforward is linked to the Tax Losses form. |
|
Total Regional Tax Losses Pre-Apportionment |
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Total Regional Tax Losses - Carryforward Automated |
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Total Regional Tax Losses Pre-Apportionment |
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Total Regional Tax Losses - Carryforward Pre-Apportioned |
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Total Regional Tax Credits - Carryforward |
This category is used for Tax Losses that are deferred. These are system-defined, and two accounts are provided: Current Year and Carryforward. Carryforward is linked to the Tax Losses form. |
|
State Tax Credit |
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Regional Tax Credit 2 |
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Regional Tax Credit 3 |
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Regional Tax Attributes |
This category is user-defined upon implementation. Amounts are generally entered on a tax-effected basis in the temporary difference rollforward and are considered adjustments to deferred tax. |
|
Regional Tax Attribute 1 |
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Regional Tax Attribute 2 |
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Regional Valuation Allowance |
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Regional Valuation Allowance - Credits |
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Regional Valuation Allowance - Non current |
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Regional Valuation Allowance - Tax Losses |
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Regional Deferred Tax Total |
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Total Deferred Tax - National |
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Total Deferred Tax National - No VA |