Instructions For Form Ct-3.3 - Prior Net Operating Loss Conversion (Pnolc) Subtraction - New York State Department Of Taxation And Finance - 2015 Page 4
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Page 4 of 5 CT-3.3-I (2015)
than 50% of your pool in each of the tax years that begins on or
Combined filers: Enter on line 2 the total amount that your
after January 1, 2015, and before January 1, 2017. If the pool
group’s PNOLC subtraction pool increased over the current tax
is not exhausted at the end of such period, the remainder of the
year for which you are reporting due to new members joining the
pool is forfeited. The election must be made on the first return for
group in such tax year. Enter on line 4 the total amount that your
the tax year that begins on or after January 1, 2015, and before
group’s PNOLC subtraction pool decreased over the current
January 1, 2016, by the due date for such return, determined
tax year for which you are reporting due to previous members
with regard to valid extensions. The election is made by entering
departing the group in such tax year.
an amount on Schedule A, line 6 on the first return for the
Line 5 – The amount entered on line 5 should equal the amount
tax year that begins on or after January 1, 2015, and before
on Schedule A, line 5.
January 1, 2016.
The PNOLC subtraction is further limited to an amount that
Schedule D – Remaining balance of PNOLC
reduces the tax on the apportioned business income base to
subtraction pool
the higher of the capital base tax or the fixed dollar minimum
Line 3 – Enter the amount of PNOLC subtraction used in all
tax (see Schedule B). When using the one-tenth method, any
tax periods prior to the tax period for which you are reporting.
unused amount of subtraction as a result of this limitation is
Follow the instruction below that matches your filing situation.
carried forward to subsequent tax year(s) and such unused
amount is not subject to the one-tenth limitation in the
Note: Generally, unless short years are involved, in the 1st tax
subsequent tax year(s). When having made the 50% election,
year after the base year, taxpayers will not yet have used any
no unused amount of subtraction may be carried forward to a tax
amount of PNOLC subtraction. In such instances, enter 0 on
year that begins on or after January 1, 2017.
line 3.
Unless the 50% election is made, any amount of unused PNOLC
If you are: 1) a separate filer and also filed separately in the
subtraction may be carried forward to subsequent tax years until
tax period immediately preceding the tax period for which you
the PNOLC subtraction pool is exhausted, but for no longer than
are reporting, or 2) a combined group that did not undergo any
twenty tax years, or the tax year beginning on or after January 1,
change in composition during the tax period for which you are
2035, but before January 1, 2036, whichever comes first.
reporting, then enter the amount reported on Schedule D, line 4
of the Form CT-3.3 that you filed for the tax period immediately
Schedule B – Limitation on PNOLC subtraction
preceding this tax period.
Line 1
If you are filing separately, but filed in a combined group in
the tax period immediately preceding the tax period for which
A) Divide the amount to be entered on Schedule B, line 3, by the
you are reporting, you need to account for your share of the
business income base tax rate for the current tax year, and
combined group’s PNOLC subtraction used for those tax year(s)
add $1 (one dollar) to the result.
in which you filed as a member of the combined group. Do this
B) If the sum in A is greater than the amount from Form CT-3
by multiplying the amount reported on Schedule D, line 4 of
or CT-3-A, Part 3, line 15, then no PNOLC subtraction may
the Form CT-3.3 filed by the combined group for the tax period
be claimed this year. Skip Schedule B, lines 1 through 4 and
immediately preceding this tax period by the same fraction used
enter 0 on Schedule B, line 5. Resume Schedule A.
in computing Schedule A, line 5 of this Form CT-3.3. Enter the
C) If the sum in A is less than the amount from Form CT-3 or
resulting product on line 3.
CT-3-A, Part 3, line 15, then enter the amount from such
If you are a combined group that lost members during the tax
line 15 on Schedule B, line 1 and continue with Schedule B.
period for which you are reporting, you need to account for the
PNOLC subtraction used by such members before they left
Schedule C – Reconciliation of current year
your group. Do this by multiplying the amount on Schedule D,
Schedule A, line 5, to previous year Schedule A,
line 4 of the Form CT-3.3 you filed for the tax period immediately
line 5
preceding the tax period for which you are reporting by the same
fraction used to compute Schedule A, line 5 of this Form CT-3.3.
Line 1 – Enter 0 if you are filing separately for this tax year but
Enter the resulting product on line 3.
were a member of a combined group in the previous tax year.
If you are a combined group that added new members during
Note: If you are filing for your first tax period that begins on or
the tax period for which you are reporting, you need to account
after January 1, 2015, enter 0 on line 1.
for the PNOLC subtraction used by such members before they
Lines 2 and 4 – The PNOLC subtraction pool entered on line 1
joined your group. Do this as follows:
may have changed in the current tax year for which you are
1) for each new member of the group that filed separately
reporting due to changes in combined groups, because new
for the tax period immediately preceding this tax period,
group members bring their share of their previous pool to the
include on line 3 the amount reported on Schedule D, line 4
group’s pool, and members departing the group take their share
of the Form CT-3.3 filed by such separate member for such
of the group’s pool away from the group’s pool. Lines 2 and 4
preceding tax period, and
account for such changes.
2) for each new member of the group that filed as a member
Note: If you are filing for your first tax period that begins on or
of a different combined group for the tax period immediately
after January 1, 2015, only, enter on line 2 the amount from
preceding this tax period, multiply the amount reported
Schedule A, line 5.
on Schedule D, line 4 of the Form CT-3.3 filed by the new
member’s combined group for the tax period immediately
Separate filers: If you were not a member of a combined group
preceding this tax period by the same fraction used in
in the tax period immediately preceding the tax period for which
computing Schedule A, line 5 of this Form CT-3.3; include the
you are reporting, enter 0 on line 2. Complete line 3, and enter 0
product on line 3, and
on line 4. If you were a member of a combined group in the tax
period immediately preceding the tax period for which you are
reporting, enter on line 2 the amount from Schedule A, line 5.
Complete line 3 and enter 0 on line 4.
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