2015 Corporation Income Tax General Instructions - Georgia Department Of Revenue Page 13
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24GEORGIA NOL CARRY FORWARD WORKSHEET EXAMPLE
Loss Year
Loss Amount
Income Year
NOL Utilized
Balance
Remaining NOL
1994
$
225,351
$
176,299
$
(49,052)
12/31/1996
1994
$
137,047
$
(39,252)
12/31/1997
1994
$
110,167
$
(26,880)
12/31/1998
1994
$
50,663
$
(59,504)
$
50,663
12/31/2000
1999
$
86,280
$
86,280
2001
$
116,287
$
116,287
2002
$
18,765
$
18,765
2003
$
52,711
$
52,711
2004
$
35,972
$
35,972
1. NOL Carry forward Available to Current Year (Enter on Schedule 1, Line 6 or Schedule 7, Line 8)
360,678
2. Current Year Income / (Loss)
100,000
3. NOL Carry forward Available to Next Year (Subtract Line 2 from Line 1)
260,678
INSTRUCTIONS
Column A: List the loss year(s).
Column B: List the loss amount for the tax year listed in Column A.
Columns C & D: List the years in which the losses were utilized and the amount utilized each year.
Column E: List the balance of the NOL after each year has been applied.
Column F: List the remaining NOL applicable to each loss year.
Total the remaining NOL (Col. F) and enter in the space at the bottom of the worksheet for “NOL Carry forward Avail-
able to Current Year”. Then insert “Current Year Income / (Loss)” in the space provided and compute the “NOL Carry
forward Available to Next Year” in the last space.
Create photocopies as needed.
Page 11
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