CT-3.4: Net Operating Loss Deduction (NOLD) (2025)
New York · NY DTF · Used for tax years 2025
New York Form CT-3.4 calculates a corporation’s net operating loss deduction, losses available for use in the current tax year, and losses available to carry forward. It also reports apportioned business income or loss and, for combined filers, loss amounts for members entering o
Who files this form
Corporations filing Form CT-3 or CT-3-A must complete and file Form CT-3.4 with that return each tax year.
Schedules B and C apply only to Form CT-3-A filers. They cover new members of the combined group and former members who are no longer in the group at the end of the current tax period.
What you'll need
Have these forms and records available:
- Your corporation’s legal name and employer identification number (EIN).
- Form CT-3 or CT-3-A, including Part 3, line 17, and Part 2, lines 1b and 1c.
- The current-year tax rates schedule in Form CT-3-I or CT-3-A-I.
- Form CT-3.4-I, which the form tells you to read before completing it.
- Your prior-year Form CT-3.4 and records of NOL carryforwards, carrybacks, expired losses, and losses unavailable for the current year.
- Tax-period dates and apportioned business income or loss information for Schedule A.
For combined groups, also gather the names, EINs, tax-period dates, and NOL information for members who joined or left the group.
How to file
File Form CT-3.4 with Form CT-3 or CT-3-A. Read Form CT-3.4-I before completing it.
Complete Schedule A for each tax period. Form CT-3-A filers use Schedules B and C for the combined-group member information described on those schedules.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
- Skipping the annual filing: The form reminds you to complete and file Form CT-3.4 with Form CT-3 or CT-3-A each tax year.
- Leaving Schedule A incomplete: It must be completed for each tax period.
- Using a different tax rate on line 4: Use the same business income base tax rate used for line 1, and do not enter less than zero on line 4.
- Completing the form without consulting the instructions: The form directs you to read Form CT-3.4-I first.
Questions people ask
How do I indicate that I am electing to waive carryback of the current-year NOL?
Mark an X in box A. The form directs you to the “Election to waive carryback” section in the instructions.
Where do I report my prior-year NOL carryforward?
Enter the NOL carryforward from your prior-year Form CT-3.4 on line 5a.
Where is the NOL available to carry forward calculated?
Line 7 calculates the NOL available to be carried forward by subtracting line 7d from line 7b.
Who uses Schedules B and C?
Only Form CT-3-A filers use these schedules. Schedule B covers new members included in the combined group for the current tax period. Schedule C covers former members not included in the group at the end of the current tax period.