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Minnesota Free Printable 2021 NOL, Net Operating Loss Deduction for 2022 Minnesota Net Operating Loss Deduction

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Net Operating Loss Deduction
2021 NOL, Net Operating Loss Deduction

*214511* 2021 NOL, Net Operating Loss Deduction Combined Income Return Filers: Complete a separate Schedule NOL for each corporation that is carrying forward a net operating loss (NOL). Name of Corporation Year FEIN Taxable Net Income/Loss Minnesota Tax ID Number Minnesota Losses Used Losses Remaining Net Operating Loss Deduction Total Losses Remaining (to be carried forward) Oldest Loss Year Subsequent Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2021 Summary: Enter on Form M4T, line 6 9995 2021 Schedule NOL Instructions The purpose of this form is to show the sources and applications of net operating losses. Only the years used to calculate the net operating loss, and the years the losses are used, need to be listed. Your net operating loss deduction is limited to 80% (.80) of your taxable net income for the year. Net operating losses may be carried forward only. The carryforward period is 15 years. A net operating loss incurred in a prior year and not previously used to offset net income may be deducted on Form M4T, line 6. Corporations whose business is conducted entirely in Minnesota may deduct the full amount of any previously unused net operating loss after the 80% limit is applied. Corporations that apportion their income to Minnesota may deduct any previously unused net operating loss at the apportionment percentage of the loss year. Corporations may not create or increase the net operating loss by: • The deduction for dividends received, Form M4T, line 8 • The foreign royalties subtraction for tax years beginning before 2013 Acquired net operating losses are subject to limitation as determined under Internal Revenue Code section 382(g). To complete the worksheet: • Enter your taxable net income or loss for the year in the Taxable Net Income/Loss column. If your return was amended or adjusted, use the most recent amounts for that year. • If the amount is a loss, add it to the total in the previous year’s Losses Remaining column and enter the sum in the Losses Remaining column. • If the amount is income, and losses from previous years are being used to reduce that income, enter the amount of loss being used to reduce the income in the Minnesota Losses Used column. The amount of loss being used in each year is limited to 80% (.80) of the taxable net income for the year. Complete Schedule NOL and attach a copy with your Minnesota tax return. A separate Schedule NOL is required for each corporation in a unitary group that is claiming a net operating loss deduction. Example: Year Oldest Loss Year 12/31/14 Subsequent Year 1 12/31/15 2 12/31/16 3 4 5 (13,000) 4,000 Minnesota Losses Used -------(4,000) (5,000) Losses Remaining (13,000) (9,000) (14,000) 12/31/17 6 ,000 (6,000) (8,000) 12/31/18 (8,000) -------- (16,000) (8,000) (8,000) 5,000 (4,000) (4,000) 2,000 (1,600) (2,400) 12/31/19 6 12/31/20 7 Taxable Net Income/Loss 12/31/21 10 ,000 8 9 10 11 12 13 14 15 Net Operating Loss Deduction 2021 Summary: 1,600 Enter on Form M4T, line 6 Total Losses Remaining (to be carried forward) (2,400)
Extracted from PDF file 2021-minnesota-form-nol.pdf, last modified October 2020

More about the Minnesota Form NOL Corporate Income Tax TY 2021

We last updated the Net Operating Loss Deduction in January 2022, so this is the latest version of Form NOL, fully updated for tax year 2021. You can download or print current or past-year PDFs of Form NOL directly from TaxFormFinder. You can print other Minnesota tax forms here.

Related Minnesota Corporate Income Tax Forms:

TaxFormFinder has an additional 95 Minnesota income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Minnesota Form NOL.

Form Code Form Name
Form M4NP NOL Net Operating Loss Deduction (M4NP)

Download all MN tax forms View all 96 Minnesota Income Tax Forms


Form Sources:

Minnesota usually releases forms for the current tax year between January and April. We last updated Minnesota Form NOL from the Department of Revenue in January 2022.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Minnesota Form NOL

We have a total of eleven past-year versions of Form NOL in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2021 Form NOL

2021 NOL, Net Operating Loss Deduction

2020 Form NOL

2020 NOL, Net Operating Loss Deduction

2019 Form NOL

2019 NOL, Net Operating Loss Deduction

2018 Form NOL

2016 NOL, Net Operating Loss Deduction

2017 Form NOL

2017 NOL, Net Operating Loss Deduction

2016 Form NOL

2016 NOL, Net Operating Loss Deduction

2015 Form NOL

2015 NOL, Net Operating Loss Deduction

Net Operating Loss Deduction 2014 Form NOL

2011 NOL, Net Operating Loss Deduction

2013 Net Operating Loss Deduction 2013 Form NOL

2011 NOL, Net Operating Loss Deduction

2012 Form NOL

2011 NOL, Net Operating Loss Deduction

2011 Form NOL

2011 NOL, Net Operating Loss Deduction


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