The Federal Net Operating Loss (NOL) deduction, IRC Sec. 172, has been significantly changed by both the TCJA and CARES Act.  This webinar will cover the impact of these legislative changes on State NOLs under (1) existing conformity, (2) subsequent state legislative or administrative responses, and (3) state CARES Act anticipated responses. The latest tax technical content for both compliance and financial reporting is explored and then demonstrated through a fully integrated corporate multi-state example using SNOL reports.
 
The course content will provide state groupings by common state NOL statute characteristics and insight on unique state pitfalls to avoid.
 
Learning Objectives:
 
This webinar is designed to help prepare C-Corp state and local tax professionals for the tax compliance season and quarterly financial reporting.  As a result of active participation, program attendees will be able to:

• Discuss the impacts of TCJA and CARES Act on Federal Section 172


• Determine potential state loss carryback and carryforward for their organization and clients


• Understand the financial reporting requirements for State NOLs


• Awareness of a technology solution for compliance and financial reporting for state NOLs