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Make State balance sheet equal to federal

mattlamcpa
Level 1

In the business modules, how do you make the state balance sheet equal to federal?

Matt Lam

 

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2 Comments 2
sjrcpa
Level 15

Most of the time they are equal - except for CA sometimes.

What item(s) are different?

The more I know, the more I don't know.
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mattlamcpa
Level 1

It is the current year income.  The difference between assets and Liab + equity is exactly the amount of Employee Retention Credit used to reduce Wages in the tax return.

Matt Lam

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