Working with Regional Tax Rates

The Tax Rates Regional and Apportionment form contains the regional tax and apportionment rates needed by the system to compute the regional provision for a specific entity.

The following rate types are available for each jurisdiction:

Table 12-7 Tax Rate Types

Tax Rate Type	Description
Prior Year Current Tax Rate	The statutory tax rate for the prior year. This rate is used for informational purposes.
Current Year Current Tax Rate	The statutory tax rate for the current period. This rate is used in the following calculations.
Opening Deferred Tax Rate – Non Current	The beginning-of-year deferred tax rate to be used for temporary differences classified as non-current.
Closing Deferred Tax Rate – Non Current	The end-of-year deferred tax rate to be used for temporary differences classified as noncurrent.
Opening Regional Tax Apportionment	The prior-year apportionment percentage to be used by the system in the calculation of the opening tax balances in the deferred provision.
Current Year Regional Tax Apportionment	The current-year apportionment percentage to be used by the system in the calculation of apportioned income in the current provision and tax based on current-year activity in the deferred provision.
Closing Regional Tax Apportionment	The end-of-year apportionment percentage to be used by the system in the calculation of closing tax balances in the deferred provision.
Active Region Flag	Set the flag to identify the active Region (such as a US State) for which an income tax provision must be calculated. 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 Regional Tax Rates to Active.