Topic: Nol Carryforward Rules
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Answers to Common Questions
How do you apply NOL and charitable contribution carryforwards to...
Okay again this is a state question in a federal tax forum. Okay, but I have news for you...many if not most states do not recognize a NOL carryover like the federal laws do. But, this isn't a great mystery..if MO allows an NOL, then the ru... Read More »
Source: http://answers.yahoo.com/question/index?qid=20110824193719AAklv73
How do you figure a NOL carryforward? Would it be the amt. (If we...
NOL carryforward: you have to make the election in the year you have the loss. If you did not do this then you have to go backwards before you can go forward. But if you did make the election to not carryback, then the remaining loss unused... Read More »
Source: http://www.answerbag.com/q_view/591164
What are NOL transfer rules in the UK? Can a company buy another ...
Several years ago (1990s) it was allowed and I don't think there have been significant changes. However, there are limitations similar to the United States' SRLY limitation, whereby the "business" in the UK that generated the loss must also... Read More »
Source: http://answers.yahoo.com/question/index?qid=20060712135129AAPVhKT
More Common Questions
Answers to Other Common Questions
The accounting loss will already be in retained earnings. If you recorded the tax benefit of an NOL (not usually done) it would be an asset and the classification as to current or long term would depend on when you expect the NOL to be util...
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Source: http://community.intuit.com/posts/how-to-record-a-nol-carryforwar...
An Oklahoma net operating loss (NOL) shall be separately determined by reference to Section 172 of the Internal Revenue Code as modified by the Oklahoma Income Tax Act and shall be allowed without regard to the existence of a Federal NOL. ...
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Source: http://www.tax.ok.gov/faq/faqitc88.html
Alla, You have to figure your 2009 AMT NOL and carryback to the same year you take the Regular NOL. If you carryback 5 years, then you are limited to using 50% of the income in the 5th carryback year. This rule is for both Regular and AMT. ...
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Source: http://www.linkedin.com/answers/finance-accounting/corporate-taxe...
The treatment of a tax-option (S) corporation's unused credits from taxable years beginning before January 1, 1998, that are still available under the 20-year carryforward period is determined at the corporation level. If the tax-option (S)...
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Source: http://www.revenue.wi.gov/faqs/ise/umfgcrdt.html
