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The NOL Automation for a jurisdiction is managed in the Automation section under Data Input > State > Details in the Provision and Estimated Payments datasets.
To import information to the Automation section, complete the appropriate fields on the #S# States sheet in the Import Numbers template. For more information on importing, refer to the Importing Templates documentation.
Screen Entry Fields
NOL Automation
| • | The automation posts an amount as a NOL Temporary Difference with the system code NOL_SYS and the tag of A. The NOL automation posts a reclass that creates the NOL Temporary difference, when the unit has a taxable loss. It draws down an available NOL Temporary Difference when the unit has taxable income. |
| • | The automation posts an amount as a NOL Temporary Difference with the system code NOL_SYS and the class of A. The NOL automation posts a reclass that creates the NOL Temporary difference, when the unit has a taxable loss. It draws down an available NOL Temporary Difference when the unit has taxable income. |
| • | Selections made in the NOL Allowance rate and Base NOL Allowance impact the amount of the reclass to NOL that is posted. |
| • | The NOL Allowance rate is the percent of taxable income/loss that should be considered when computing the NOL that should be reclassed for the specified unit. |
| • | The Base NOL Allowance, such as the §382 limitation, limits the amount of NOL that is considered. If there is no Base NOL Allowance, the default value of zero should remain the same. |
Note: In Consolidated State reports, the total NOL will not be reduced by entities that have income. To make this reduction adjustment, an elimination entity should be created with the NOL entry only.
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