Form Fae 170 - Franchise, Excise Tax Return Page 8
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8TAXABLE YEAR
TAXPAYER NAME
ACCOUNT NO./FEIN/SSN
SCHEDULE U and V - LOSS CARRYOVER/INDUSTRIAL MACHINERY CREDIT CARRYOVER
NOTE: SCHEDULES U AND V ARE NOT REQUIRED TO BE FILED WITH THE RETURN. These schedules may be used as a worksheet
to compute the amount of net operating loss carryover and \ or industrial machinery credit carryover available.
IMPORTANT INFORMATION APPLICABLE TO LOSS CARRYOVER
1.
Any net operating loss incurred for fiscal years ending on or after 1-15-84 may be carried forward fifteen (15) years as a net operating loss carryover.
2.
COMBINED RETURN - UNITARY GROUP OF FINANCIAL INSTITUTIONS:
Any net operating loss incurred by a member of the unitary group which has been apportioned to Tennessee in a year prior to filing a combined return
may be carried forward seven (7) years as a net operating loss carryover by the unitary group. A net operating loss incurred by a unitary group of financial
institutions computed on a combined basis may be carried forward fifteen (15) years by the unitary group.
Reference: Tenn. Code Ann. Section 67-4-2006(c).
SCHEDULE U - SCHEDULE OF LOSS CARRYOVER
Period
For Original
Year
Ended
Return or
Used In
Loss Carryover
(MM/YY)
As Amended
Prior Year(s)
Expired
Available
1
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2
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3
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4
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5
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6
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7
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8
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9
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10
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11
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12
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13
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14
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15
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Total Amount (Transfer to Schedule J, Line 32) ........................................................................
SCHEDULE V - SCHEDULE OF INDUSTRIAL MACHINERY CREDIT CARRYOVER
IMPORTANT INFORMATION APPLICABLE TO INDUSTRIAL MACHINERY CREDIT CARRYOVERS
Any unused credit incurred for fiscal years ending on or after 3-15-82 may be carried forward in any tax period for up to fifteen (15) years.
Reference: Tenn. Code Ann. Section 67-4-2009(3)(c).
Period
For Original
Industrial Machinery
Year
Ended
Return or
Used In
Credit Carryover
(MM/YY)
As Amended
Prior Year(s)
Expired
Available
1
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2
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3
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4
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5
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6
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7
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8
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9
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10
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11
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12
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13
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14
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15
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Total Amount (Transfer to Schedule T, Line 4) .......................................................................
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