Wisconsin Net Business Loss Carryforward
File with Wisconsin Form 4 or 5
Federal Employer ID Number
Wisconsin Department Name of Revenue
(f) Remaining Loss Available
Starting with column a, complete all applicable lines for one column before filling in the next column (see instructions).
(d) Loss Used/ Expired
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
30th preceding taxable year 29th preceding taxable year 28th preceding taxable year 27th preceding taxable year 26th preceding taxable year 25th preceding taxable year 24th preceding taxable year 23rd preceding taxable year 22nd preceding taxable year 21st preceding taxable year 20th preceding taxable year 19th preceding taxable year 18th preceding taxable year 17th preceding taxable year 16th preceding taxable year 15th preceding taxable year 14th preceding taxable year 13th preceding taxable year 12th preceding taxable year 11th preceding taxable year 10th preceding taxable year 9th preceding taxable year 8th preceding taxable year 7th preceding taxable year 6th preceding taxable year 5th preceding taxable year 4th preceding taxable year 3rd preceding taxable year 2nd preceding taxable year 1st preceding taxable year
(e) Years Losses Incurred
Purpose of Form 4BL
Corporations use Form 4BL to determine the amount of available net business loss carryforward for the current year. Net business losses incurred in the 1980 taxable year and thereafter may be carried forward and offset against net income for up to 15 years. The corporation must have sustained the loss in a taxable year in which it was subject to Wisconsin franchise or income taxation. The carryforward period for losses incurred prior to the 1980 taxable year is limited to 5 years. Carrybacks are not permitted. In the case of a merger, acquisition, ownership change, etc., occurring in the 1987 taxable year or thereafter, any net business losses that would be available to the predecessor corporation are available to the successor corporation, as provided in section 381 of the Internal Revenue Code (IRC). However, the Wisconsin losses may be limited as provided in IRC section 382. Provide the predecessor's name and FEIN and attach a copy of its Form 4BL to document the Wisconsin loss.
Column b. For the years shown in column a, enter the amount, if any, of Wisconsin net business loss incurred. Column c. For the years shown in column a, enter the amount, if any, of Wisconsin net income before applying any net business loss carryforwards. Note for columns b and c: Corporations filing income tax returns rather than franchise tax returns must adjust the amounts to enter in column b or c by reversing any exclusions of interest earned on obligations of the United States government. Column d. For those years in which income is reported in column c, enter, as a negative number, any net business losses from prior years which were used to offset that income. Apply only as much loss as is needed to reduce the income to zero. Also enter in column d any net business loss from a prior year that expired at the end of this taxable year as a result of the 5- or 15-year carryforward limitation. Column e. Enter the year or years in which the loss shown in column d was incurred. Offset the oldest losses first. Column f. Enter the total loss carryforward available at the end of each taxable year. This is the column f amount for the immediately preceding taxable year increased by any net business loss incurred in the taxable year and decreased by (1) any loss used to offset net income of the taxable year and (2) any loss that expired at the end of the taxable year. Enter the amount of loss shown on line 30, column f, on Form 4, page 1, line 12, or Form 5, page 1, line 6.
Column a. Starting with line 30, fill in the dates for the taxable years necessary to account for all of the Wisconsin net business losses that may affect the computation of the loss carryforward available for the current taxable year. For example, a calendar year corporation having no taxable years of less than 12 months and net business losses going back to 1978, would begin by entering "2007" on line 30 and continue by entering the dates of the prior years, ending with "1978" on line 1.