Instructions For Form Ct-3.3 - Prior Net Operating Loss Conversion (Pnolc) Subtraction - New York State Department Of Taxation And Finance - 2015
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DRAFT
nd
CT-3.3-I
Department of Taxation and Finance
Instructions for Form CT-3.3
Changed text properties of instruction set
Prior Net Operating Loss Conversion
headings 1-8.
Form increased
(PNOLC) Subtraction
Text rewrapping has occurred throughout.
from 4 to 5 pages.
Base year tax rate means the taxpayer’s tax rate for the base
All citations are to New York State Tax Law sections unless
year as calculated under 210.1(a) or 1455(a), as such provisions
specifically noted otherwise.
were in effect on December 31, 2014. It is used for Schedule A,
line 3.
moved from before previous paragraph
General information
Specific instructions
Form CT-3.3 is used by a taxpayer subject to tax under Tax Law
Article 9-A to compute the prior net operating loss conversion
When filing a combined return, enter the legal name and EIN of
(PNOLC) subtraction allowed in the computation of the business
the group’s designated agent.
income base by 210.1(a)(viii)(B) for tax years beginning on
and after January 1, 2015. Form CT-3.3 must be filed, with all
Schedule A – PNOLC subtraction
schedules completed, for every tax year that you carry a PNOLC
The following instruction sets each cover a different filing
subtraction balance, even if no such subtraction can be applied
situation (separate and various combined situations). Find
in that tax year, so that carryforward amounts are properly
the instruction set for your filing situation, and follow those
accounted for. Failure to file Form CT-3.3 for any tax year for
instructions for completing the lines specified in that instruction
which you carry a balance of PNOLC subtraction may result in a
set. The instruction sets provide for that as the composition of
delay in receiving such benefits. Combined groups need to file
combined groups changes, members new to a group bring their
only one Form CT-3.3, computed on a combined group basis, for
share of their previous PNOLC subtraction pool to the group’s
their group. However, statements may need to be attached per
pool, and members departing the group take their share of the
the instruction sets below.
removed extra space
group’s PNOLC subtraction pool away from the group’s pool.
Unused net operating losses (NOLs) that were incurred for
For purposes of the instruction sets, filing a separate return
tax years beginning before January 1, 2015, are converted to
means filing Form CT-3.
a PNOLC subtraction, to be applied against the apportioned
business income base.
Note: For combined groups, more than one instruction set can
apply in a given tax year. In this situation, only one Form CT-3.3
The PNOLC subtraction is applied against the business income
reflecting the aggregate result of the application of all instruction
base before the net operating loss deduction (NOLD).
sets is filed.
Note: If you were a qualified New York manufacturer or eligible
Note: For all instruction sets, before completing Schedule A,
qualified New York manufacturer for purposes of the tax on
line 12, you must first complete Schedule B.
the entire net income (ENI) base for its last tax year beginning
before January 1, 2015, you will not have a PNOLC subtraction,
Note: Instructions for Schedule A, lines 6 through 9, are at the
as your ENI tax rate for such tax year was 0%. Therefore, you
end of Schedule A instructions. See For all instruction sets.
would not complete Form CT-3.3.
Instruction sets 1 through 4 apply when you are filing a return
The PNOLC subtraction is limited in any tax year to the amount
for the 1st tax year after the base year. Use instruction set 1 if
required to reduce the tax on the apportioned business income
you are filing a separate return in such year. If you are filing for a
base to the higher of the capital base tax or the fixed dollar
combined group, choose between instruction sets 2, 3, and 4, as
minimum tax. For a combined group, the PNOLC subtraction
applicable to your filing situation.
is limited in any tax year to the amount required to reduce the
For subsequent tax period(s) you can continue to use the same
tax on the apportioned combined business income base to
instruction set you followed for the 1st tax year after the base
the higher of the combined capital base tax or the fixed dollar
year if your filing situation did not change in such subsequent
minimum tax of the designated agent.
tax period(s).
moved to page 2
Definitions
Instruction set 1
Base year means the last tax year beginning on or after
Use when you are filing a separate return for the 1st tax year
January 1, 2014, and before January 1, 2015. Therefore, the
after the base year. Continue using each tax year thereafter for
1st year after the base year for a taxpayer generally will be the
as long as you continue to file a separate return.
1st tax period for which the taxpayer files a return under the
corporate tax reform rules.
If you filed separately in your base year:
Unabsorbed net operating loss means the unabsorbed portion of
Line 1 – Enter your unabsorbed NOL at the end of the base
NOL as calculated under 208.9(f) or 1453(k-1) as such sections
year.
were in effect on December 31, 2014, that was not deductible in
Line 2 – Enter your base year BAP.
previous tax years and was eligible for carryover on the last day
Line 3 – Enter your base year ENI base tax rate.
of the base year, subject to the limitations for deduction under
Continue with line 4.
such sections, and including any NOL sustained by the taxpayer
during the base year. It is used for Schedule A, line 1.
Line 10 – Enter the amount from your previous year’s
Form CT-3.3, line 13, if any.
Base year BAP means the taxpayer’s business allocation
percentage (BAP) as calculated under 210.3(a) for the base
If you filed as a member of a combined group in your base year:
year, or the taxpayer’s allocation percentage as calculated under
Line 1 – Enter your share of the combined group’s base year
1454 for purposes of calculating ENI for the base year, as such
unabsorbed NOL.
sections were in effect on December 31, 2014. It is used for
Line 2 – Enter the combined group’s base year BAP.
Schedule A, line 2.
Line 3 – Enter the combined group’s base year ENI base tax
rate.
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