SALT Terms
A fraction based on the total sales of the entity in the state during the taxable year over the total sales of the entity everywhere.
What is sales factor?
What is the indexing number for the state workbooks?
800
The first thing you should do/check when preparing a state return after auto-compute.
What is activate states?
The sales factor, property factor, and payroll factor are used to determine this.
What is apportionment?
The tab you input the federal return information into a partnership state workbook.
What is the "Input Fed K-1" tab?
An activity you can do to reduce your workload pertaining to apportionment?
What is uploading apportionment directly from the workbook?
The amount of income that a state will calculate tax on. (After apportionment and allocation).
What is state taxable income?
The index number for the bonus depreciation adjustment workbook.
What is 820 - SALT Bonus Depreciation Workpapers?
What is organizer?
Means “does not follow”. Most commonly seen in regard to bonus depreciation, if a state does not follow bonus they do not allow bonus depreciation on their tax return.
What is decouple?
Income before state apportionment is applied and after state adjustments are applied.
What is state apportionable income?
Clearing these will ensure that your state return is qualified to submit to efile.
What are diagnostics/e-file validation errors?
Applies to Sales of Tangible Personal Property ONLY. Some states have a rule where they can require that property shipped out of their state into a state where the taxpayer is not taxable to be included in the numerator of their sales factor.
What is throwback?
What is a minimum/net worth tax?
This is the screen that shows you the tax return, but you should never type here unless your senior or manager permits you to.
What is tax forms view? (also accepted: yellow screens)