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

Show expandable text

New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

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.

Was this article helpful?

Thank you for the feedback!