Course Information

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California Tax: Net Operating Losses and Net Operating Loss Carryovers (Third Edition)
Author: CCH Editorial Staff

Description:

Although California generally follows federal law in computing net operating losses (NOLs), there are many modifications of the federal law for both corporation franchise (income), and personal income taxpayers. In addition, California has special NOL rules for businesses that operate in specified areas and for specific types of businesses and taxpayers.

This course provides an explanation of the California NOL rules, the many differences between the California and Federal NOLs, California's special rules for specified types of businesses, as well as an overview of the impact the 2003 suspension has had on tax return preparation and tax planning.

Upon completion of this course, the professional will be able to:

  • Compare California and federal NOL rules;
  • Be aware of the special California NOL rules for certain specified businesses and taxpayers;
  • Understand how the suspension of the net operating loss carryover deduction in 2002 and 2003 increased the carryover period;
  • Comprehend the increased carryover deduction amounts allowable;
  • Calculate the net operating loss carryover allowable subsequent years; and
  • Analyze the effect of the NOL deduction on tax planning.
Course Details:
Price:  $32.00
Field of Study:  Taxes
Prerequisites:  None
Level:  Basic
Advanced Preparation:  None
CTEC course number:  1075-CE-7436
Course was last updated on:  07/27/10
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Library:
Learning Center Core

Technical Requirements:
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Credit Available For: Units
CPE 2.0 CPE
QAS 2.0 CPE
Enrolled Agent (Accepted by the IRS) 2.0 CPE
CTEC California 2.0 CE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

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