Bloomberg enhances State NOL Manager

Bloomberg Tax & Accounting has improved its State NOL Manager product, formerly known as State Tax Analyzer, to help multistate businesses with net operating losses across multiple states.

The latest release updates corporate state income tax rules and regulations across 44 states, the District of Columbia and New York City. It also includes changes from the CARES Act that affect tax years 2018, 2019 and 2020.

Net operating losses have proven to be lucrative tax breaks for many companies, enabling them to significantly lower their tax bills. The product calculates NOL generation, utilization and expiration amounts by tax year and analyze carryback and carryforward NOLs. It also identifies pre- and post-apportionment NOL states and reports on cumulative NOL ending balances by tax year.

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Bloomberg Tax Leadership Forum in New York

“State NOL Manager eliminates the guesswork and stress of tracking losses across entities, tax periods and states,” said Evan Croen, vice president of Bloomberg Tax and Accounting Software, in a statement. “The tool provides efficiency and insight that saves corporate tax departments hundreds of hours of effort each year.”

For more information, visit http://onb-tax.com/mDJg50EQumT.

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