Benefits

Title

Benefit Details

Fully Integrates with CORPTAX® U.S. Compliance

State Planner integrates with the CORPTAX® U.S. Compliance system to automatically calculate the estimated income tax for multiple states. It utilizes the compliance data currently stored in the CORPTAX database to reduce data entry and simplify state income tax planning. In addition, you can use data from previous estimates for subsequent calculations, summary data for quick planning or specific data for more detailed calculations.

Planning and Analysis Capabilities

State Planner's built-in flexibility allows you to calculate the estimated payments due and quickly simulate “what-if” state planning scenarios. By changing an apportionment component or modifying the income or deductions, State Planner will recalculate the tax. It can also accommodate numerous scenarios for comparing and simulating corporate changes as they affect state tax liabilities.

Flexible Reporting Capabilities

State Planner gives you the flexibility to calculate the estimated tax liability for multiple states within one report. The report provides you with detailed information on multiple states, each in its own column, side-by-side. It can also compute a columnar combined or consolidated return.

Customizable Calculations

With State Planner you can customize the calculations to reflect your special needs. State Planner gives you control over the indicators and variables that manipulate the calculations (e.g., a tax rate change during the year), and easily updates and recalculates changes.

Calculates the Estimated Tax and Payment Spread

State Planner calculates both the state taxable income and the estimated tax. The system then calculates the payment spread by month and by quarter, allowing for cash flow analysis.

Determines the Least Tax to Pay

By calculating the estimated tax using the different methods allowed by each state, State Planner can determine the least tax to pay in order to avoid incurring an underpayment penalty.

Payment Cushion Analysis

State Planner also allows you to override the amount payable. It then calculates the payment cushion in terms of the relative change in the apportionment ratio, federal taxable income and state taxable income, utilizing the extra payments to prevent the underpayment penalty.