Form 720s, 725 Or 765 - Net Operating Loss Schedule

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SCHEDULE NOL
*0600010261*
Taxable Year Ending
__ __ / __ __
Form 720S, 725 or 765
Mo.
Yr.
41A725NOL (10-06)
Commonwealth of Kentucky
If irrevocable election is made
DEPARTMENT OF REVENUE
to carry NOL carryforward as an
N
O
L
S
ET
PERATING
OSS
CHEDULE
apportioned NOL, check here.
KRS 141.011, KRS 141.200(11); Regulation 103 KAR 16:250
Name of Corporation
Kentucky Corporation Account Number
PART I—MANDATORY NEXUS CONSOLIDATION
Includible Corporations
Section A—Current Net Operating Loss Adjustment
A
B
C
Kentucky
Kentucky Net Losses
Total Losses
Kentucky Net Income
Corporation
Name
(Enter as a Positive)
(Enter as a Positive)
Account Number
1. Common Parent
2. Subsidiaries
3. Totals (add Columns A and B) ........................................ 3
4. Limitation–Income (line 3, Column A multiplied by 50%) . 4
5. Prior year NOL carryforward ................................................................................................................................ 5
6. Total (add line 5, Column C and line 3, Column B) ............................................................................................ 6
7. Disallowed loss. If Line 3, Column B is greater than
Line 4, Column A, enter the difference here and
on applicable form (see instructions) .............................. 7
8. Additional NOLD. Enter as a negative amount on
applicable form (see instructions) .................................. 8
9. If tax is based on AMC, (see instructions) ..................... 9
10. Limitation–AMC (see instructions) ................................. 10
Section B—NOL Carryforward
1. Current year disallowed loss (see instructions) ................................................................................... 1
2. If the amount on Column A, line 3 is zero, then enter the amount from Column B, line 3 .............. 2
3. Enter the amount from line 1 or line 2 .................................................................................................. 3
4. Enter the amount of line 3 multiplied by the total of the individual shareholders’, partners’
or members’ proportionate share of the loss ....................................................................................... 4
5. Prior year(s) NOL carryforward(s) from Part I, Section A, line 5 ........................................................ 5
6. Prior year(s) NOL carryforward used this year (see instructions) ..................................................... 6
7. Enter the total NOL carryforward to 2007 (lines 3 and 5, less lines 4 and 6) ..................................... 7
PART II—SINGLE ENTITY FILERS
Section A—Kentucky NOL Carryforward
1. Enter carryforward from prior year(s) ................................................................................................... 1
2. Enter the current year net operating loss, if any, from Form 765, Part I, Line 25,
as a positive number ............................................................................................................................... 2
3. Enter the amount of line 2 multiplied by the total of the individual partners’
proportionate share of the net operating loss ...................................................................................... 3
4. Enter the following: (1) if the regular income tax is greater than the AMC tax,
enter NOLD from Form 765, Part I, Line 26; or (2) if the AMC tax is greater than
the regular income tax (see instructions) ............................................................................................. 4
5. Enter the total NOL carryforward to 2007 (lines 1 and 2, less lines 3 and 4) ..................................... 5

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