Managing NOL Automation Rules

The NOL Automation screen enables you to configure the rules defining how the system should automatically defer, utilize, or expire tax losses and book the corresponding offset amounts. The following NOL Automation rules apply:

Can automatically expire deferred losses whose year of expiration has passed
Is accessible from the Configurations card
Shows base-level descendants of the TaxLossesCFSTotal and TaxCreditTotal parent account - which has both Losses and Credits accounts
The Current Provision Automated column displays the result of NOL Automation rules for the base-level accounts under TaxLossesCFSTotal.
When a utilization flag is checked only then its dependent columns are enabled like:
- Utilization limit Taxable Income - Percent and Amount - is given the highest precedence over the C/F columns. If both Percent and Amount are present then Amount has more precedence over the Percent
- Utilization limit C/F- Percent and Amount - Only if there is nothing mentioned in Taxable Income then these values will be considered. If both Percent and Amount are present then Amount has more precedence over the Percent
- Priority- This is a number which is used to specify the priority across the rules