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Schedule NOL Form 1120ME 2015 For calculating net operating loss recapture subtraction modication Attach this schedule to your 2015 Form 1120ME Col. 1 Col. 2 Col. 3 Col. 4 Year of Loss Amount of Loss.

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Related content

Schedule NOL Form 1120ME - 2016 - Maine.gov
Schedule NOL. Form 1120ME - 2016. For calculating net operating loss recapture subtraction...
Learn more
1 STATE OF MAINE BUSINESS & CONSUMER DOCKET ...
Return, Form 1120ME. On line ... calculate the FTI of its unitary group. ... NOL subject...
Learn more

Related links form

CT B-6 2012 CT B-88 2001 CT B-91 2001 CT B-96 2000

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Yes, Maine allows a NOL deduction, because the starting point for computing Maine corporate income tax liability is federal taxable income after NOLs .

While there's no set formula to calculate NOL, businesses calculate NOL by subtracting their itemized deductions from their adjusted gross income. If this results in a negative number, an NOL occurs. Only certain deductions result in an NOL. Examples include theft or casualty losses.

As of March 29, 2021, five states follow the CARES Act in allowing NOLs to be carried back up to five years for tax years 2018, 2019, and 2020. Five additional states offer state-defined NOL carrybacks of two or three years.

Yes, Maine allows a NOL deduction, because the starting point for computing Maine corporate income tax liability is federal taxable income after NOLs .

Deductions for NOLs incurred in tax years beginning after 2017 are limited to 80% of taxable income. Over the years, Maine has been in various stages of conformity with the federal loss carryback and carryforward rules.

Generally, you can only carry NOLs arising in tax years ending after 2020 to a later year. An exception applies to certain farming losses, which may be carried back 2 years. See section 172(b) and Pub. 225, Farmer's Tax Guide. NOL deduction limitation.

The disallowance of a NOL carryback or carryover requires an addition modification on your Maine income tax return. This addition modification can generally be recaptured through a subtraction modification in the year or years after the loss.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232