1. User's Guide
  2. National Tax Process
  3. Current Provision
  4. Tax Losses

Tax Losses

The system tracks National tax losses in these categories:

  • National Tax Losses—Current—used to bring taxable income up to 0 for an entity with a loss in the current year, which should be carried forward

  • Net Operating Loss—Carryforward—used to record the utilization of any Net Operating Loss carryforward against the current year taxable income

For details, see Tax Losses.