The page allows you to set a tax rate schedule for all the grants. The effective date
defines the first date on which a tax rate is applicable, and the combination of the
effective dates and tax rates creates the default tax rate schedule.
A grant-specific tax rate may be set by uploading the Tax Rate File. A tax rate
schedule set on the grant-level will override the default tax rate schedule for that
particular grant.
At least one effective date and tax rate must be entered at the system-wide level.
The default tax rate entry is required to run Deferred Tax and EPS Dilution reports.
You will not be able to run the reports until the tax rate is set.
To Add a default Tax Rate:
1. Enter an Effective Date. The default value is the current date. Once an
effective date is set for a tax rate, another tax rate cannot be set for the
same effective date until the existing one is deleted.
2. Enter a Tax Rate percentage. Enter values of 0-100 (inclusive). The default
tax rate value is 0.0.
3. Click the Add button. The Tax Rate is displayed in the Default tax rate
schedule settings section at the bottom of the page.
To Delete a Tax Rate:
- Click the Delete link located to the right of the Tax Rate.
Setting up for Group-level usage of Tax Rate Schedule
1. To setup a new Schedule Code, type in a 5-digit alpha, numeric or alpha-numeric value
in the input box.
2. Alongside in the Schedule Name, enter a descriptive name to be associated with the
Schedule Code.
3. To the right of the Schedule Name are two options:
i. Delete, which deletes the Schedule Code and Schedule Name
ii. View Tax Rate Schedule Line, which activates the Tax Rate
Schedule Lines below.
4. Enter Effective Date and Forfeiture Rate values in the Tax Rate Schedule Lines. To
add more Effective Dates, click on the Add Row button. Clicking on Save saves the
values and associates the values to the Schedule Code above. Cancel clears any changes.
Assigning Group-level Values
Assignment of values is performed under the section Tax Rate Schedule Assignment.
Schedules can be assigned at the following levels:
· Grant Type
· Plan Name
· Award Type
· Award Subtype
· User-defined values (setup under Lists)
Select the Tax Rate Schedule for the group value you want it assigned at, and click on Save to save changes, or Cancel to clear changes.