Form NYC-2.4 "Net Operating Loss Deduction (Nold)" - New York City

What Is Form NYC-2.4?

This is a legal form that was released by the New York City Department of Finance - a government authority operating within New York City. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • The latest edition provided by the New York City Department of Finance;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of Form NYC-2.4 by clicking the link below or browse more documents and templates provided by the New York City Department of Finance.

ADVERTISEMENT
ADVERTISEMENT

Download Form NYC-2.4 "Net Operating Loss Deduction (Nold)" - New York City

Download PDF

Fill PDF online

Rate (4.5 / 5) 84 votes
- 2.4
NET OPERATING LOSS DEDUCTION (NOLD)
You MUST attach this form to Form NYC-2 or NYC-2A each tax year
For Calendar Year 2020 or Fiscal Year Beginning _______________________, 2020 and ending _____________________________
n
n
A. Were there any special federal Net Operating Loss elections?..............................................................................................
YES
NO
B. NYC-2A filers: Have there been any changes in the composition of the group of corporations included in this Combined Business
n
n
Corporation Tax Return from the prior tax period? If "YES," please complete Schedules B and C. (See instructions)............
YES
NO
n
n
C. Are you making an election to waive the carryback period for NOLs generated in the current tax period? ..........................
YES
NO
SCHEDULE A - COMPUTATION OF CURRENT NYC NET OPERATING LOSS DEDUCTION (NOLD)
1.
Multiply Form NYC-2 or NYC-2A, Schedule B, line 34 by your appropriate business income base
tax rate for the current year from Schedule H, Determination of Tax Rate in Form NYC-2 or NYC-2A (see instr.) .... 1. ______________________________
2.
Enter the greater of the capital base tax or the fixed dollar minimum tax for the current tax year
(from Form NYC-2 or NYC-2A, Schedule A, line 2 or 3) .............................................................................. 2. ______________________________
3.
Subtract line 2 from line 1. If less than zero, enter "0" (see instructions) .................................................. 3. ______________________________
4.
NOLD that is required to be utilized, if available (divide line 3 by the same
business income base tax rate used for line 1; do not enter less than zero) ............................................... 4. ______________________________
Computation of net operating loss (NOL) to be used (see instructions)
5a.
NOL carryforward from prior year’s Form NYC-2.4............................................. 5a. _____________________________
5b. NOL carryforwards from new members who entered the group
during the current tax year ............................................................................ 5b. _____________________________
5c.
NOL carryback ............................................................................................. 5c. _____________________________
5d. Subtotal (add lines 5a, 5b and 5c) .................................................................................................................. 5d. ______________________________
5e.
NOLs carryforwards that have expired ......................................................... 5e. _____________________________
5f.
NOL carryforwards unavailable for use in the current tax year ........................ 5f. _____________________________
5g. Add lines 5e and 5f ....................................................................................................................................... 5g. ______________________________
5h. Total of NOLs available to be used in the current tax year (subtract line 5g from line 5d) ................................. 5h. ______________________________
6.
NOLs to be used in the current tax year .................................................... 6.
Computation of NOL carryforward (see instructions)
7a.
NOL incurred in the current tax year ........................................................................................................... 7a. ______________________________
7b. Net NOLs available (add lines 5h, 5f and 7a).............................................................................................. 7b. ______________________________
7c.
NOL carryforwards from members who left the group
during the current tax year ............................................................................ 7c. _____________________________
7d. Add lines 6 and 7c ......................................................................................................................................... 7d. ______________________________
7e.
NOL available to be carried forward (subtract line 7d from 7b) ......................................................................... 7e. ______________________________
SCHEDULE B - FORM NYC-2A FILERS ONLY: ENTITIES NOT INCLUDED IN PRIOR COMBINED RETURN
n
n
Are any entities included in the Combined Business Corporation Tax Return that were not included in the return for the prior period?
YES
NO
Complete this schedule for each corporation included in the Combined Business Corporation Tax Return that was not included in the
Combined Business Corporation Tax Return for the prior tax period.
A
B
C
D
E
F
G
Name
Employer
NOL available
Beginning date
Ending date
Reason(s) INCLUDED
Subject to
of
Identification
at the beginning
of this tax period of this tax period
in combined
IRC
corporation
Number
of this tax period
(mm-dd-yy)
(mm-dd-yy)
business corporation tax return
§§381-384
_____________________________________________________________________________________________________________________________________________
or SRLY
n
_____________________________________________________________________________________________________________________________________________
n
_____________________________________________________________________________________________________________________________________________
n
_____________________________________________________________________________________________________________________________________________
n
_____________________________________________________________________________________________________________________________________________
n
_____________________________________________________________________________________________________________________________________________
n
_____________________________________________________________________________________________________________________________________________
If additional space is required, please use this format on a separate sheet and attach to this page.
31612091
NYC-2.4 - 2020
- 2.4
NET OPERATING LOSS DEDUCTION (NOLD)
You MUST attach this form to Form NYC-2 or NYC-2A each tax year
For Calendar Year 2020 or Fiscal Year Beginning _______________________, 2020 and ending _____________________________
n
n
A. Were there any special federal Net Operating Loss elections?..............................................................................................
YES
NO
B. NYC-2A filers: Have there been any changes in the composition of the group of corporations included in this Combined Business
n
n
Corporation Tax Return from the prior tax period? If "YES," please complete Schedules B and C. (See instructions)............
YES
NO
n
n
C. Are you making an election to waive the carryback period for NOLs generated in the current tax period? ..........................
YES
NO
SCHEDULE A - COMPUTATION OF CURRENT NYC NET OPERATING LOSS DEDUCTION (NOLD)
1.
Multiply Form NYC-2 or NYC-2A, Schedule B, line 34 by your appropriate business income base
tax rate for the current year from Schedule H, Determination of Tax Rate in Form NYC-2 or NYC-2A (see instr.) .... 1. ______________________________
2.
Enter the greater of the capital base tax or the fixed dollar minimum tax for the current tax year
(from Form NYC-2 or NYC-2A, Schedule A, line 2 or 3) .............................................................................. 2. ______________________________
3.
Subtract line 2 from line 1. If less than zero, enter "0" (see instructions) .................................................. 3. ______________________________
4.
NOLD that is required to be utilized, if available (divide line 3 by the same
business income base tax rate used for line 1; do not enter less than zero) ............................................... 4. ______________________________
Computation of net operating loss (NOL) to be used (see instructions)
5a.
NOL carryforward from prior year’s Form NYC-2.4............................................. 5a. _____________________________
5b. NOL carryforwards from new members who entered the group
during the current tax year ............................................................................ 5b. _____________________________
5c.
NOL carryback ............................................................................................. 5c. _____________________________
5d. Subtotal (add lines 5a, 5b and 5c) .................................................................................................................. 5d. ______________________________
5e.
NOLs carryforwards that have expired ......................................................... 5e. _____________________________
5f.
NOL carryforwards unavailable for use in the current tax year ........................ 5f. _____________________________
5g. Add lines 5e and 5f ....................................................................................................................................... 5g. ______________________________
5h. Total of NOLs available to be used in the current tax year (subtract line 5g from line 5d) ................................. 5h. ______________________________
6.
NOLs to be used in the current tax year .................................................... 6.
Computation of NOL carryforward (see instructions)
7a.
NOL incurred in the current tax year ........................................................................................................... 7a. ______________________________
7b. Net NOLs available (add lines 5h, 5f and 7a).............................................................................................. 7b. ______________________________
7c.
NOL carryforwards from members who left the group
during the current tax year ............................................................................ 7c. _____________________________
7d. Add lines 6 and 7c ......................................................................................................................................... 7d. ______________________________
7e.
NOL available to be carried forward (subtract line 7d from 7b) ......................................................................... 7e. ______________________________
SCHEDULE B - FORM NYC-2A FILERS ONLY: ENTITIES NOT INCLUDED IN PRIOR COMBINED RETURN
n
n
Are any entities included in the Combined Business Corporation Tax Return that were not included in the return for the prior period?
YES
NO
Complete this schedule for each corporation included in the Combined Business Corporation Tax Return that was not included in the
Combined Business Corporation Tax Return for the prior tax period.
A
B
C
D
E
F
G
Name
Employer
NOL available
Beginning date
Ending date
Reason(s) INCLUDED
Subject to
of
Identification
at the beginning
of this tax period of this tax period
in combined
IRC
corporation
Number
of this tax period
(mm-dd-yy)
(mm-dd-yy)
business corporation tax return
§§381-384
_____________________________________________________________________________________________________________________________________________
or SRLY
n
_____________________________________________________________________________________________________________________________________________
n
_____________________________________________________________________________________________________________________________________________
n
_____________________________________________________________________________________________________________________________________________
n
_____________________________________________________________________________________________________________________________________________
n
_____________________________________________________________________________________________________________________________________________
n
_____________________________________________________________________________________________________________________________________________
If additional space is required, please use this format on a separate sheet and attach to this page.
31612091
NYC-2.4 - 2020
:
:
______________________________________
__________________________________
NAME
EIN
Form NYC-2.4 - 2020
Page 2
SCHEDULE C - FORM NYC-2A FILERS ONLY: ENTITIES NO LONGER INCLUDED IN COMBINED GROUP (See Instructions)
n
n
Are there any entities in the combined group for which this will be the last tax period of inclusion in the group?
YES
NO
Complete this schedule for each corporation included in the combined group for any part of the group’s current tax period that are no
longer part of the combined group as of the beginning of the combined group’s subsequent tax period.
Former Member's Tax Period
in Combined Group
A
B
C
D
E
F
Name of
Employer Identification
NOL available upon
Beginning date
Ending date
Reason(s) EXCLUDED from combined
corporation
Number
leaving combined group
(mm-dd-yy)
(mm-dd-yy)
business corporation tax return
____________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________
If additional space is required, please use this format on a separate sheet and attach to this page.
SCHEDULE D - NYC NET OPERATING LOSS DEDUCTION SCHEDULE (NOLD)
APPLICABLE
COLUMN A -
COLUMN B -
COLUMN C -
COLUMN D -
COLUMN E -
COLUMN F -
YEAR
Amount from
Tax
NYC Net
NYC Net
NYC Net
NYC Net
NYC-2A or NYC-2,
Year
Operating Loss
Operating Loss
Operating Loss
Operating Loss
Sch. B, line 34
Generated
Utilized
Expired
Remaining
_______________________________________________________________________________________________________________________________________________________________
1. 19th preceding yr
_______________________________________________________________________________________________________________________________________________________________
2. 18th preceding yr
_______________________________________________________________________________________________________________________________________________________________
3. 17th preceding yr
_______________________________________________________________________________________________________________________________________________________________
4. 16th preceding yr
_______________________________________________________________________________________________________________________________________________________________
5. 15th preceding yr
_______________________________________________________________________________________________________________________________________________________________
6. 14th preceding yr
_______________________________________________________________________________________________________________________________________________________________
7. 13th preceding yr
_______________________________________________________________________________________________________________________________________________________________
8. 12th preceding yr
_______________________________________________________________________________________________________________________________________________________________
9. 11th preceding yr
_______________________________________________________________________________________________________________________________________________________________
10. 10th preceding yr
_______________________________________________________________________________________________________________________________________________________________
11. 9th preceding yr
_______________________________________________________________________________________________________________________________________________________________
12. 8th preceding yr
_______________________________________________________________________________________________________________________________________________________________
13. 7th preceding yr
_______________________________________________________________________________________________________________________________________________________________
14. 6th preceding yr
_______________________________________________________________________________________________________________________________________________________________
15. 5th preceding yr
_______________________________________________________________________________________________________________________________________________________________
16. 4th preceding yr
_______________________________________________________________________________________________________________________________________________________________
17. 3rd preceding yr
_______________________________________________________________________________________________________________________________________________________________
18. 2nd preceding yr
_______________________________________________________________________________________________________________________________________________________________
19. 1st preceding yr
_______________________________________________________________________________________________________________________________________________________________
20. Current year
_______________________________________________________________________________________________________________________________________________________________
*31622091*
31622091
Page of 2