Deloitte has released new tax data analytics tools to help companies manage, track and report state net operating losses (NOLs).

The web-based solution, called State NOL Insight, features a calculation engine to analyze utilization, limitation and expiration based upon state-specific NOL rules, data analytics, and visualization of state NOL data and forecasting, along with separate tracking of state NOLs for tax provision purposes.

“We see many organizations today relying on large, legacy spreadsheets to keep up with their state net operating losses,” stated Andrew Gold, partner, Deloitte Tax LLP, who specializes in multistate tax services and innovation. “By leveraging the power of database technology and data analytics, insight-driven organizations can gain a deeper understanding of their tax data, improve accuracy, make more meaningful decisions, and create more value. In designing State NOL Insight we have considered feedback from our clients and our state tax professionals consulting in the area,” said Gold. “The result is a solution that is broad-based in its features, yet also both scalable and flexible.”

 

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