Bloomberg Tax & Accounting Streamlines Multistate NOL Management with New Software Enhancements
Arlington, Va. (May 19, 2021) — Bloomberg Tax & Accounting today announced enhancements to State NOL Manager, formerly known as State Tax Analyzer, an all-in-one compliance, provision, and planning application for multistate businesses with net operating losses (NOLs) across multiple states.
Focused on NOLs and the differing complexity by state, Bloomberg Tax & Accounting tax experts meticulously update corporate state income tax rules and regulations across 44 states, the District of Columbia, and New York City. Most recently, CARES Act changes that affect tax years 2018, 2019, and 2020 were incorporated into State NOL Manager to fully equip tax professionals working on tax deliverables for these years.
Building on the editorial standards of excellence found in the Tax Management Portfolios, State NOL Manager is embedded with Bloomberg Tax & Accounting’s world-renowned tax expertise, providing confidence that calculations are always up-to-date, accurate, and based on the latest enacted state tax law. This allows Bloomberg Tax & Accounting users to optimize the most demanding compliance, provision, and planning situations.
State NOL Manager integrates trusted tax expertise with purpose-built calculations to bring efficiency and control to tasks including:
- Calculating NOL generation, utilization, and expiration amounts by tax year
- Analysis of carryback and carryforward NOLs
- Identifying pre- and post-apportionment NOL states
- Reporting on cumulative NOL ending balances by tax year
“State NOL Manager eliminates the guesswork and stress of tracking losses across entities, tax periods, and states,” said Evan Croen, Vice President, Bloomberg Tax and Accounting Software. “The tool provides efficiency and insight that saves corporate tax departments hundreds of hours of effort each year.”
For more information and to schedule a demo, visit http://onb-tax.com/mDJg50EQumT.
About Bloomberg Tax & Accounting
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