The New Jersey Division of Taxation is providing details about the net operating loss (NOL) conversion worksheet. The NOL subtraction calculation has been changed from a preallocation to postallocation basis for tax years ending on and after 7/31/19. As part of the change to a postallocation NOL subtraction method, there’s a statutory conversion formula for unused unexpired preallocation NOL carryovers using the allocation factor from the last tax year ending prior to the change. Click here for more information. © 2019

Contact the CG Team with questions via the form to the right or call 732.676.4100.

“Notice: NOL Conversion Worksheet 500-P.” State of New Jersey Department of the Treasury. December 12, 2018. Accessed January 02, 2019.