State Form 439 - Schedule It-20nol - Corporate Income Tax Net Operating Loss Computation

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Indiana Department of Revenue
Schedule
Corporate Income Tax
IT-20NOL
State Form 439
Net Operating Loss Computation
(9-03)
Page attachment sequence #9
(See instructions on the reverse side of this schedule)
Name of Corporation or Organization
Federal Identification Number
A
B
PART I — Computation of Indiana Net Operating Loss
(Effective for 2003 and Fiscal Years Beginning in 2003 and Ending 2004.)
Complete this schedule if line 9 shows a loss for the tax year. Enter loss, if any, as a positive figure in
the box. A separate
Schedule IT-20NOL must be completed for each loss year.
Net operating loss from line 9 below
Loss year ending
Loss year
/
/
aa
bb
MM
DD
YYYY
1. Enter federal taxable income (as defined in I.R.C. Sections 63, 511, 801or 832) including the special dividend
deduction but excluding any federal net operating loss deduction (see instructions) ................................................... 1
2. Add back: All state income taxes deducted .................................................................................................................. 2
3. Add back: All charitable contributions deducted .......................................................................................................... 3
4
Add or subtract net bonus depreciation allowance ....................................................................................................... 4
5. Deduct: Interest earned on direct U. S. Government obligations reported ................................................................... 5
6. Deduct: Foreign gross up as determined from federal Form 1118 ................................................................................ 6
7. Subtotal (add lines 1 through 4, deduct lines 5 and 6) .................................................................................................. 7
8. Indiana apportionment percentage from the apportionment schedule of the loss year return (if applicable) ............. 8
%
9. Indiana (loss) available for carryover (multiply line 7 by line 8) ................................................................................. 9
PART II — Election to waive the carryback of a net operating loss deduction
To claim the Indiana portion of a net operating loss deduction, if any, you must apply the same carryback/carryover treatment as
used for federal tax purposes. Use combined amounts if filing a consolidated return.
If you compute a qualified Indiana loss on Part I and there is no federal NOL, check this box to waive the two, three, or five-year
NOL carryback provision for state tax purposes:
cc
Complete this schedule, Parts I and II, attach to and timely file your Indiana loss year return.
PART III — Effect of loss year carried to current tax year return.
(Read all instructions for application of federal carry back and carry forward provisions.)
(1)
(2)
(3)
(4)
(5)
Amount of
Indiana AGI after
Remaining unused
Indiana AGI as
Tax year ending
NOL deduction
net operating
net operating
last determined by
carried back/forward
loss deduction
loss
department records
5th Preceding tax period
4th Preceding tax period
3rd Preceding tax period
Effective for loss years beginning after August 5, 1997, the 3rd preceding tax year carry back application is eliminated for non-farm losses.
2nd Preceding tax period
1st
Preceding tax period
Note: For loss years incurred in 2001 and 2002, use the same 5-year or 2-year carry back application or carry forward election for the NOL
that is in effect for federal purposes.
1st Following tax period
2nd Following tax period
3rd Following tax period
4th Following tax period
5th Following tax period
6th Following tax period
7th Following tax period
8th Following tax period
9th Following tax period
10th Following tax period
Attach schedule if extending to 15th or 20th following tax year.

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