CT-3.3: Prior Net Operating Loss Conversion (PNOLC) Subtraction (2024)
New York · NY DTF · Used for tax years 2024
New York Form CT-3.3 calculates the Prior Net Operating Loss Conversion (PNOLC) subtraction. It reports the subtraction pool, tax period allotment, overall limitation, amount used, and unused amount carried forward.
Who files this form
You must complete and attach Form CT-3.3 to Form CT-3 or CT-3-A for each tax period in which you or any member of your combined group claim a prior net operating loss conversion (PNOLC) subtraction or carry a PNOLC subtraction balance.
All filers must complete all schedules.
What you'll need
Have these forms and details available to complete Form CT-3.3:
- Form CT-3 or CT-3-A, including Part 3, line 15, and Part 2, lines 1b and 1c.
- The Tax rates schedule in Form CT-3-I or CT-3-A-I for the current tax period.
- The corporation’s legal name and employer identification number (EIN).
- Schedule A details, including the base year end date, tax period count, unabsorbed net operating loss (UNOL), PNOLC subtraction pool, and allotment percentage.
- The unused PNOLC subtraction carried forward from the prior tax period.
CT-3-A filers need the requested Schedule A information for each combined member that was in the group during the tax period.
How to file
File Form CT-3.3 with Form CT-3 or CT-3-A. Complete all schedules and attach the form for every tax period in which you or a combined group member claim a PNOLC subtraction or carry a PNOLC subtraction balance.
The supplied form does not provide a mailing address or e-filing directions.
Common mistakes
- Do not skip Form CT-3.3 just because you are only carrying a PNOLC subtraction balance. The form must also be attached for those tax periods.
- Do not leave out a schedule. All filers must complete all schedules, including Schedule B.
- Complete all Schedule A information each tax period.
- If filing CT-3-A, enter the requested information in each column for every combined member that was in the group during the tax period. Mark an X for a non-taxpayer.
Questions people ask
Do I need to file this form if I only carry a PNOLC subtraction balance?
Yes. Attach Form CT-3.3 to Form CT-3 or CT-3-A for each tax period in which you or any combined group member claim a subtraction or carry a balance.
Which schedules must I complete?
All filers must complete all schedules: Schedule A, Schedule B, and Schedule C.
How do I calculate the tax period allotment in Schedule A?
Multiply the PNOLC subtraction pool in column E by the allotment percentage in column F. Enter the result in column G.
Where do I calculate the maximum subtraction for the current tax period?
Use Schedule B. It calculates the overall limitation, with the maximum amount shown on line 5.
Where does the form track unused amounts?
Schedule C shows the unused subtraction carried forward from the prior tax period on line 2 and the unused subtraction to be carried forward on line 5. Line 7 adds line 5 to the remaining pool on line 6 to show the unexhausted PNOLC subtraction.