Form 80-155 Net Operating Loss Schedule - Mississippi

What Is Form 80-155?

This is a legal form that was released by the Mississippi Department of Revenue - a government authority operating within Mississippi. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 80-155?
A: Form 80-155 is the Net Operating Loss Schedule for Mississippi.

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

Q: Who needs to file Form 80-155?
A: Businesses in Mississippi that have a net operating loss in a given tax year need to file Form 80-155.

Q: Is Form 80-155 only for residents of Mississippi?
A: Yes, Form 80-155 is specifically for businesses located in Mississippi.

Q: When is Form 80-155 due?
A: Form 80-155 is generally due on the same date as the business's annual tax return.

Q: Can I e-file Form 80-155?
A: Yes, you can e-file Form 80-155 if you have registered with the Mississippi Department of Revenue for electronic filing.

Q: What information do I need to complete Form 80-155?
A: You will need your business's financial records, including income and expense statements, to complete Form 80-155.

Q: Are there any penalties for not filing Form 80-155?
A: Yes, failure to file Form 80-155 can result in penalties and interest on any owed taxes.

Q: Can I carry forward a net operating loss?
A: Yes, Mississippi allows businesses to carry forward a net operating loss for up to 5 years.