{ "media_type": "text", "post_content": "What is a “long range effective tax rate”? I was asked in an interview what I would need to create a long range ETR schedule if I was in the role. I know how to calculate ETR and assumed “long range” meant forecasted, so I basically described that you would need a forecasted pre tax PTBI, book-to-tax adjustments and the anticipated taxes paid. How bad did I miss this question? The interviewer looked at me like I had 2 heads. 🤣🤣🤣", "post_id": "60bb02cba0cca0002bdc3541", "reply_count": 12, "vote_count": 3, "bowl_id": "599555b669a73a0010aab3ac", "bowl_name": "Tax Bowl", "feed_type": "bowl" }

What is a “long range effective tax rate”? I was asked in an interview what I would need to create a long range ETR schedule if I was in the role. I know how to calculate ETR and assumed “long range” meant forecasted, so I basically described that you would need a forecasted pre tax PTBI, book-to-tax adjustments and the anticipated taxes paid. How bad did I miss this question? The interviewer looked at me like I had 2 heads. 🤣🤣🤣

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I have never heard this term, interesting

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Question was about how well you can BS your way through not knowing something using a made up term.

funny

And as a side note - I didn’t get this job, but more recently I got a better offer from a bigger a company in a role that seemed to fit me better anyway. But was just thinking about this question the other day, so figured I’d ask it here.

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Congrats! As an SM I don’t know the answer either unless she meant deferred rate (how timing differences would reverse) or forecasted rate (for cash flow purposes). Truly baffling.

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Just said I don’t know

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A GAAP ETR can be boiled down to pre tax plus permanent differences less any credits - you also need to know what countries the company will operate in and how those profits relate to each country in order to apply the right rate at a global level, if the company is a multinational. In computing an ETR the expectation is you would be calculating anticipated taxes as part of that. If you interviewed with a tax person your answer was maybe just wrong enough. If it was with someone who is a finance role or the company is smaller, they may not have a long term forecast.

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Got it, thanks. It was with a tax person. I probably got the gist of it right (was a little more precise than in my question), but not as detailed as pointing out the country-by-country concept even though I was thinking along those lines anyway. I sometimes get these easier questions wrong because I over or under think them. Meanwhile, I can perfectly articulate how to compute all the US TCJA provisions, etc. Lol.

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Hmm I’ve never heard this term before. My guess would be it’s the same as forecasted ETR but taking into account anticipated rate changes and adjusting for future items that will have an impact. So basically a future ETR. 🤷🏻‍♀️ I probably would’ve gotten the two head look as well with that made up answer haha.

funny

Maybe it was their way of asking for a rate for a five year forecast.

Long term AFR rate?

What if the question was trying to determine if you’re the type of person to say ‘i don’t know,’ or make something up?

Maybe, but I don’t think it was. My guess is it’s a workpaper they maintain and colloquially call it a long range ETR plan. And I did qualify my response by saying I wasn’t really sure what she meant, but I think she’s asking about a forecasted ETR schedule and then how I would compute it. She nodded along and smiled but towards the end she looked confused which made me confused then we were all confused haha. Wasn’t meant to be which I’m cool with.

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