Past L&L Topics
Post-TCJA, the carryforward period for the Federal R&D tax credit was extended to this duration.
What is indefinite?
Many states use this type of conformity, automatically adopting federal tax law changes without needing separate legislation.
What is rolling conformity?
This principle states that the price for a transaction between related parties should be the same as if the two parties were unrelated.
What is the arm's-length principle?
The rules determine which country has jurisdiction to charge VAT in a given transaction
What is Place of Supply?
Number of individuals within the Okta Tax team as of 7/15/25
What is fifteen?
This new requirement, with a first deadline for Okta in July 2026, mandates that large companies publicly share key financial data on a country-by-country basis.
What is Public Country-by-Country Reporting (Public CbCR)?
Some states have this type of conformity, requiring state legislature to explicitly adopt federal tax changes like those in the OBBB.
What is static conformity?
This US tax form is used by a US person to report their interest in a foreign corporation.
What is Form 5471?
In the EU, this standard tax system is used for consumption-based taxation.
What is VAT (Value Added Tax)?
The largest rodent on Earth aka Okta Tax team's mascot
What is Capybara?
This is a thin, savory crepes or pancakes, originating from South India, made from fermented rice and lentil batter.
What is a Dosa?
This is the most recent country where Okta is under audit for income tax purposes.
What is India?
These rules, developed by the OECD, aim to combat tax avoidance by multinational enterprises through a 15% global minimum tax.
What are the Pillar Two rules (or Global Anti-Base Erosion (GloBE) rules)?
This type of tax is imposed by some countries on revenue earned by large multinational tech companies from online advertising, digital marketplaces, and user data monetization.
What is the Digital Services Tax (DST)?
The US Compliance & Reporting group's favorite set of emojis to use over Slack, also known as Froge or Concerned Frog expressing various emotions (see image)
What is Bufo?
The EU Public CbCR requires reporting on business activities, number of employees, net revenues, P&L before tax, tax accrued, tax paid, and this final data point.
What is accumulated earnings?
ASC 740 requires companies to evaluate both positive and negative evidence when assessing a valuation allowance. This type of negative evidence generally outweighs subjective positive forecasts.
What is cumulative pre-tax losses in recent years?
The OBBB increased the BEAT rate to _____% (up from the current 10%).
What is 10.5%?
By filing returns in this jurisdiction, the indirect tax team is planning to recover VAT/GST expense incurred by employees while traveling for business and reimbursed through our T&E process.
What is the UK?
Back in the day, this person was known for using the email handle "Savage123456"
Who is Noel?
These are the four main tax forecasting deliverables at Okta, with timings of monthly, quarterly, and annually.
What are A&T, EoQ (End of Quarter), Outlook (OL), and Plan?
For domestic R&E expenses incurred after 12/31/24, OBBBA mandates this IRC section for immediate expensing rather than amortization.
What is Section 174A?
The OBBB modifies the GILTI regime to remove the reduction to GILTI related to a taxpayer’s qualified business asset investment (QBAI). As part of this change, the Act requires a taxpayer to include this.
What is Net CFC Tested Income (NCTI)?
This US Supreme Court case allowed states to require out-of-state sellers to collect sales tax, even without physical presence.
What is South Dakota v. Wayfair, Inc.?
This is where our SVP of Tax completed his undergraduate studies
Where is Elmira College?