1040-US: Prior-year NOL utilized in current year should not be added to current year income for sales tax purposes

Alerts and notices

Question

If a prior-year NOL was carried forward to the current-year return, should the NOL be added to income when calculating income for use with the optional state sales tax tables?

Answer

A prior-year NOL utilized in the current year should not be added to current-year income for sales tax purposes.

Related topic: Sales tax FAQs (1040)