State Book

The State book is for asset depreciation information as you will report it on the company's state income tax return. The application uses the data from the Tax book as the default information for this book. You must know the tax laws for your state; the system does not enforce specific state tax requirements. Generally, the State book fiscal year should be the same as the Tax book fiscal year.

When you run a FASB 109 Projection Report, you can get an additional report for the State book.