PDF
Word
This version of the form is not currently in use and is provided for reference only. Download this version of
Form CT-3.4
for the current year.
Form CT-3.4 Net Operating Loss Deduction (Nold) - New York
What Is Form CT-3.4?
This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form CT-3.4?
A: Form CT-3.4 is a tax form used in New York.
Q: What is the Net Operating Loss Deduction?
A: The Net Operating Loss Deduction, or NOLD, is a deduction that allows businesses to offset their current year's taxable income with prior year net operating losses.
Q: Who can use Form CT-3.4?
A: Form CT-3.4 is used by corporations that have a net operating loss in New York and want to deduct it from their current year's taxable income.
Q: Can individuals use Form CT-3.4?
A: No, Form CT-3.4 is specifically for corporations.
Q: How does the Net Operating Loss Deduction work?
A: The Net Operating Loss Deduction allows corporations to carry forward their net operating losses for up to 20 years and apply them to reduce their taxable income in future years.
Q: Is there a deadline for filing Form CT-3.4?
A: Yes, the deadline for filing Form CT-3.4 is the same as the deadline for filing the corporation's tax return, which is generally March 15th.
Q: Are there any specific requirements for using Form CT-3.4?
A: Yes, in order to use Form CT-3.4, the corporation must have filed all required prior year tax returns and paid any outstanding taxes.
Q: Can the Net Operating Loss Deduction be carried back to prior years?
A: No, in New York, the Net Operating Loss Deduction can only be carried forward to future years.
Q: What documentation is required to support the Net Operating Loss Deduction?
A: The corporation should keep records of its net operating losses and any other relevant financial documents to support the deduction.
Form Details:
- The latest edition provided by the New York State Department of Taxation and Finance;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of Form CT-3.4 by clicking the link below or browse more documents and templates provided by the New York State Department of Taxation and Finance.
Download Form CT-3.4 Net Operating Loss Deduction (Nold) - New York
1
2
3
