NOL Strategies for Federal and State Tax Reporting by Multi-State Companies

Mastering Federal Regs and Restrictions, Differing State NOL Matches, Carryback and Carryforward Elections

Recording of a 110-minute CPE webinar with Q&A


Conducted on Tuesday, September 24, 2013

Recorded event now available

or call 1-800-926-7926
Program Materials

This teleconference will provide tax professionals at multi-state companies with a current awareness briefing on treatment of NOLs in federal and individual state laws and regs. Our panel will also present a practical discussion on navigating associated complications that arise with state combined reporting and nexus.

Description

Properly managing net operating losses and handling carryforward or carrybacks NOLs adeptly is vital and a highly complex activity for federal and state income tax professionals at multi-state companies.

When it comes to federal NOLs, tax specialists must stay current on rules for reporting NOLs, general limits on carryforwards and special limits on carryforwards after an ownership change under Sect. 382. State income tax matches of federal NOL policy change constantly and take myriad directions.

Tax professionals cannot afford to miss on need to know state tax aspects of NOL. State NOL rules generally differ from federal NOL rules, and state NOL rules often differ from one another. This is especially true with respect to carrybacks of NOLs.

Listen as our panel of tax advisors explores the critical approaches that tax professionals at multi-state companies must master with NOLs.

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Outline

  1. Federal NOL treatment
    1. Sect. 382 issues
      1. When and how does limitation apply
    2. Other NOL limitations, including CERT
    3. Latest developments
  2. State NOL treatment
    1. Nexus requirements
    2. Carryforwards and carrybacks
    3. Statutory limitations
    4. Combined reporting
    5. Special situations at the state level involving NOL
    6. Issues arising from nexus standards
    7. 382 Limitations

Benefits

The panel will address these and other problematic aspects of NOLs:

  • Corporate equity reduction transactions (CERT).
  • Carryback and carryforward terms.
  • When Sect. 382 limitations apply and under what terms.
  • Strategies to be considered and steps prior to a company entering into capital transactions to protect the possible future benefits associated with NOLs.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Robert Liquerman
Robert Liquerman
Principal
KPMG

He is attached to the Corporate Tax Group in the firm's Washington National Tax Practice, and specializes in...  |  Read More

Amy Chapman
Amy Chapman
Senior Manager
KPMG

Ms. Chapman works in the firm’s Washington National Tax practice on corporate taxation matters including...  |  Read More

Rebecca Holtje
Rebecca Holtje
Manager
KPMG

She works with firm partners and staff, and clients on corporate tax matters including consolidated returns and...  |  Read More

John B. Harper
John B. Harper
Director
KPMG

Mr. Harper is a Director in KPMG’s Washington National Tax Practice with over 26 years of experience in state...  |  Read More

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