TerriMej
Level 1
02-19-2021
05:38 PM
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I would like to be clear on the calculation for generating a corporate tax provision. As I understand it, once you figure the profit before taxes, you multiply that by that tax rate to arrive at the tax provision. However, is the tax rate percentage based on the average tax rate for the business in the prior 3 years? Or, is it calculated on the prior year tax rate?