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Changes to 2013 Forms

Updates to the 3805Z Booklet on 01/13/2014 –– Enterprise Zone Business Booklet

We replaced text on:

Revision 1: Page 19, Column 3, Line 7

Revision 2: Page 20, Worksheet V, Section C, Line 8, Columns (b) –– (e)

Revision 3: Page 21, Column 1, Paragraph 1, Line 8

Previous Version

Revision 1: Line 7 – Enter the amount from line 6 in column (d). If this amount is zero or negative, transfer the amounts from line 8 through line 29, column (b) to column (e), and go to line 30.

Revision 2: Text below:

(a) Description (b) Carryover from prior year (c) Amount deducted this year (d) Balance available to offset losses (e) EZ NOL carryover to 2014
8 EZ NOL carryover beginning in 1991.....

Revision 3: Line 8 through Line 29 – Enter the amounts on line 8 through line 29 as positive numbers.

Revised Version

Revision 1: Line 7 – Enter the amount from line 6 in column (d). If this amount is zero or negative, transfer the amounts from line 9 through line 29, column (b) to column (e), and go to line 30.

Revision 2: Columns (b) –– (e) are shaded gray in revised version.

(a) Description (b) Carryover from prior year (c) Amount deducted this year (d) Balance available to offset losses (e) EZ NOL carryover to 2014
8 EZ NOL carryover beginning in 1991.....

Revision 3: Line 9 through Line 29 – Enter the amounts on line 9 through line 29 as positive numbers.

Reason for the changes

The EZ NOL incurred in 1991 can be carried over for 15 years plus 6 years extension (due to 2002-2003, and 2008-2011 NOL suspension), which result in a maximum of 21 years carryover. 2012 is the last year NOL carryover from 1991 can be used. Therefore, for 2013, line 8 should be shaded. Also, we made related instructional changes since line 8 is being shaded.

Impact

Taxpayers cannot claim the 1991 EZ NOL carryover deduction against 2013 taxable income, which may cause an increase in the taxable income. As a result, this revision may cause an increase in the tax liability.

Back to Tax Form Changes for 2013