Instructions for Form CNF-139 West Virginia Corporation Application for Refund From Carryback of Net Operating Loss - West Virginia

Form CNF-139 West Virginia Corporation Application for Refund From Carryback of Net Operating Loss - West Virginia

This document contains official instructions for Form CNF-139 , West Virginia Corporation Application for Refund From Carryback of Net Operating Loss - a form released and collected by the West Virginia State Tax Department. An up-to-date fillable Form CNF-139 is available for download through this link.

FAQ

Q: What is Form CNF-139?
A: Form CNF-139 is the West Virginia Corporation Application for Refund From Carryback of Net Operating Loss.

Q: Who can use Form CNF-139?
A: West Virginia corporations can use Form CNF-139 to apply for a refund from carryback of net operating loss.

Q: What is a net operating loss?
A: A net operating loss occurs when a company's allowable deductions exceed its taxable income.

Q: How can a net operating loss be carried back?
A: A net operating loss can be carried back to previous tax years to offset previous taxable income.

Q: Why would a corporation need to apply for a refund from carryback of net operating loss?
A: A corporation may need to apply for a refund if it has carried back a net operating loss and wants to claim a refund of the taxes paid in previous years.

Q: Is there a deadline for filing Form CNF-139?
A: Yes, Form CNF-139 must be filed within the statute of limitations, which is generally three years from the due date of the original return or two years from the date the tax was paid, whichever is later.