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Screen NYNYCPN - New York City Prior NOL Conversion Subtraction (1120)

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First Year Information

50% election method
Enter
X
 to elect to utilize the PNOLC subtraction pool by claiming not more than 50% in each of the tax years that begin on or after January 1, 2015, and before January 1,
2023
. If the pool is not exhausted at the end of such period, the remainder of the pool is forfeited.
Tax period count
Enter the number of tax periods, including short tax periods, the corporation has had since the base year. Include the current tax period in the count.
Unabsorbed net operating loss
Enter the unabsorbed portion of NOL that was not deductible in prior years and was eligible for carryover on the last day of the base year.
Base year business allocation percentage
Enter the corporation’s business allocation percentage from the base year.
Base year tax rate (x.xx)
Enter the corporation’s ENI base tax rate for the base year, regardless of what tax base was paid in the base year.

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