Bloomberg Tax & Accounting streamlines NOL administration in a number of states with new software program enhancements

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Bloomberg Tax & Accounting announces updates to the Corporate Tax Analyzer

ARLINGTON, Va., May 19, 2021 / PRNewswire / – Bloomberg Tax & Accounting today announced improvements to State NOL Manager, formerly known as State Tax Analyzer, an all-in-one compliance, deployment, and planning application for companies with multiple states and net operating losses (NOLs) in multiple States.

Focusing on NOLs and the complexity of each state, Bloomberg Tax & Accounting’s tax experts are meticulously updating corporate tax rules and regulations in 44 states District of Columbia, and New York City. Most recently, changes to the CARES Act affecting the 2018, 2019 and 2020 tax years have been incorporated into the state NOL manager to fully equip tax professionals working on tax returns for those years.

The State NOL Manager takes away the guesswork and stress of tracking losses across companies, tax periods, and states.

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Building on the editorial quality standards of the Tax Management Portfolios, the State NOL Manager is embedded in the world-famous tax expertise of Bloomberg Tax & Accounting and offers the confidence that the calculations are always up-to-date, accurate and based on state tax law. This enables Bloomberg Tax & Accounting users to streamline the most demanding compliance, deployment and planning situations.

The government NOL manager integrates trustworthy tax expertise into specially designed calculations to achieve efficiency and control in the following tasks:

  • Calculation of the NOL generation, usage and expiry amounts according to the tax year
  • Analysis of carry and carry NOLs
  • Identify NOL states before and after the split
  • Reporting on cumulative NOL ending balances by tax year

“The State NOL Manager takes away the guesswork and stress of tracking losses across companies, tax periods and states,” he said Evan skin, Vice President, Bloomberg Tax and accounting software. “The tool provides efficiency and insights that save corporate tax departments hundreds of hours each year.”

Further information and an appointment for a demo can be found at http://onb-tax.com/mDJg50EQumT.

About Bloomberg Tax & Accounting
Bloomberg Tax & Accounting provides real-world research and technology solutions that deliver timely strategic insights to enable smarter decisions. From our unparalleled tax administration portfolios to technologies to streamline the most complex planning and compliance scenarios, we provide critical news and analytics, hands-on perspectives, and software that tax and accounting professionals around the world can use to minimize risk and maximize business results. For more information, see Bloomberg Tax.

SOURCE Bloomberg Tax & Accounting

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