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Pillar II Automation - Regional taxes

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edited Feb 22, 2024 5:58PM in Tax Reporting 1 comment

Summary:

Is there any guidance/functionality to address regional/state tax in TRCS for Pillar II purposes? At the moment it appears it is the national position that is populated in the covered taxes form. In using the automation forms, it doesn't seem possible to bring in the regional position (is the default jurisdiction set to National for these forms?).

Many local and state taxes are considered 'covered taxes' for Pillar II purposes. I.e. in the below, the total current tax expense for covered tax purposes is the $16,119, however, we're only able to populate the $12,386 (we've tried adding the regional tax provision account in the hierarchy however it does not populate)

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