ETAX Corporation Income and Deductions R17-177X

Rules for calculating and using net operating loss.

• Before 2018, carryback 2 years and carryforward 20 years.
• From 2018 and beyond, no carryback; however, carryforward 20 years.
• Previous years NOL are not included in calculating the current year’s NOL.
• Charitable contributions not deductible in calculating NOL.
• NOL is created by business and or casualty losses.
• FIFO is used multiple NOL carryovers.