Using Valuation Allowance Forms: Regional
Tax Losses VA Regional
Enter Tax Losses account, for any year for VA Current Year P&L, VA Current Year Utilized P&L, VA Current Year Non-P&L and VA Current Year Utilized Non – P&L amounts.
For example, the value in VA current Year P&L Total is 6513 (4983 + 1530) and VA current Year Non P&L Total is 13015 (9314 + 3701).
Tax Credits VA Regional
Enter Tax Credits account, for any year forVA Current Year P&L, VA Current Year Utilized P&L, VA Current Year Non-P&L and VA Current Year Utilized Non – P&L amounts. For example, the value in VA current Year P&L Total is 12108 (7066 + 5042) and VA current Year Non P&L Total is 4545 (2409 + 2136).
Valuation Allowance Regional
On consolidation, VA Current Year P&L Total and VA Current Year Non – P&L Total amounts from Tax Losses/Credits VA forms are populated in VA Current Year P&L Automated and VA Current Year Non – P&L Automated, respectively.
For example, the value -6513 is populated in VA Current Year P &L Automated and -13015 is populated in VA Current Year Non P&L Automated for the account State NOL. Similarly, the value -12108 is populated in VA Current Year P &L Automated and -4545 is populated in VA Current Year Non P&L Automated for the account State Tax Credit.
Temporary Differences Regional Post VA
Configure VA Current Year P&L Total and VA Current Year Non – P&L Total movements under P&L Total and Balance Sheet Total along with other Temporary Differences movements.
For example, the value -6513 is populated in VA Current Year P&L Total and -13015 is populated in VA Current Year Non – P&L Total for the account State NOL. Similarly, the value -12108 is populated in VA Current Year P&L Total and -4545 is populated in VA Current Year Non – P&L Total for the account State Tax Credit.
Deferred Tax Regional Post VA
VA Current Year P&L Total and VA Current Year Non – P&L Total movements are configured along with other Deferred Tax movements .
For example, the value -651 is populated in VA Current Year P&L Total and -1302 is populated in VA Current Year Non – P&L Total for the account State NOL (in this example, the tax rate is 10%). The value -12108 is populated in VA Current Year P&L Total and -4545 is populated in VA Current Year Non – P&L Total for the account State Tax Credit.
Note:
VA National forms work in the similar way. See also: Using Valuation Allowance Forms: National