BNA Corporate Tax Analyzer: Corporate Tax Calculations
Corporate Tax Calculations: Carryovers, Carrybacks, NOLs, FTCs, GBCs, and More
BNA Corporate Tax™ Analyzer is trusted by corporate tax departments – interpreting and applying the Internal Revenue Code, calculating and tracking your company’s tax position over multiple years, and enabling you to optimize federal tax savings. Relied on by both corporations and the IRS, BNA Corporate Tax Analyzer will save your tax department hundreds of hours of effort each year with accurate calculation of complex tax attributes such as net operating losses (NOLs)and business credits.
- Eliminates the errors and risk of manual or spreadsheet calculations
- Optimize maximum legal benefit of business credits
- Automatically track credits and net operating losses (NOLs) for tax and financial reporting
- Use the built-in audit trail and documentation for Sarbanes-Oxley compliance
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Automatic Calculations
BNA Corporate Tax Analyzer automatically calculate tax attributes and applicable limitations for NOLs, GBCs, FTCs, minimum tax credits, capital losses, charitable contributions, and more from 1976 to the present.
Regular Tax:
- Includes all changes in tax rates since 1976
- Automatically prorates for rate changes
- Calculates special 5% and 3% taxes that eliminate the benefits of lower rates
- Flat 34% tax for personal service corporations
Alternative Minimum Tax (AMT):
- Adjusted Current Earnings (ACE) adjustment
- Limitation on the AMT net operating loss deduction
- Phase-out of the $40,000 exemption
- Repeal of AMT for small corporations after 1997
Net Operating Losses (NOLs):
- 3, 4, or 5-year NOL carryback from 2008 for small businesses
- 3, 4, or 5-year NOL carryback from 2009 for all businesses
- 20-year NOL carryover (15-year before 8/6/97)
- 2-year NOL carryback (3-year before 8/6/97)
- Section 382 Limitation for NOLs
- Separate Return Loss Limitation Year NOL carryovers
- Separate Return Year NOL carrybacks
- Special 3-year NOL carryback computations for farming losses
- Special 5-year NOL carryback computations for Gulf Opportunity Zone Losses, Farming Losses, and Electric Utility Losses
- Special 10-year NOL carryback computations for Product and Statutory Liabilities
- Election to relinquish
Alternative Tax on Capital Gains:
- Includes 1979 and 1987 changes in alternative tax rate
- Compares the alternative tax on capital gains with the regular tax and selects the lower tax
General Business Credit (GBC):
- 20-year GBC carryover (15-year before 1998)
- 1-year GBC carryback (3-year before 1998)
- Section 383 Limitation for GBC carryovers
- Keeps track of the separate components of the credit
- Applies the 35% reduction to regular investment credit carryovers
- Calculates the add-back to income of credits under IRC Sections 87 and 280C
- Computes the 25% offset of minimum tax by regular investment credit and empowerment zone employment credit
Foreign Tax Credit:
- Up to 999 separate limitation categories (baskets)
- The limitation fraction for each category
- Carryovers and carrybacks of the FTC for each category
And Many More Calculations Including:
- Short Taxable Years
- Passive Limitation for Personal Service Corporations and Closely- Held Corporations
- Foreign Tax Credit (FTC)
- Foreign and United States Losses
- Indirect Foreign Tax Credit
- Alternative Minimum Tax Foreign Tax Credit
- Foreign Oil and Gas Extraction Income (FOGEI)
- For a complete list of all the Automatic Calculations, read the BNA Corporate Tax Planner Features Sheet (PDF)»
Get Started With BNA Corporate Tax Analyzer
Start optimizing your corporate income taxes with BNA Corporate Tax Analyzer. Get started by watching a short product video » or request more information »
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